Commitments Assignment and Acceptance definition
Examples of Commitments Assignment and Acceptance in a sentence
Borrower, the Administrative Agent and the Lenders shall deem and treat the Persons listed as Lenders in the Register as the holders and owners of the Commitments listed therein for all purposes hereof, and no assignment or transfer of any such Commitment shall be effective, in each case unless and until a Commitments Assignment and Acceptance effecting the assignment or transfer thereof shall have been accepted by the Administrative Agent and recorded in the Register as provided above.
Upon the effective date of such Commitments Assignment and Acceptance, the Eligible Assignee named therein shall be a Lender for all purposes of this Agreement, with the Pro Rata Share of the Commitments therein set forth and, to the extent of such Pro Rata Share, the assigning Lender shall be released from its further obligations under this Agreement.
Upon the effective date of such Commitments Assignment and Acceptance, the Eligible Assignee named therein shall be a Lender for all purposes of this Agreement, with a Percentage and Commitment amount as therein (and herein, if such Eligible Assignee was already a Lender) set forth and, to the extent of the portion of the Commitment assigned, the assigning Lender shall be released from its further obligations under this Agreement.
Upon notice from Borrower, such Lender shall execute and deliver a Commitments Assignment and Acceptance covering that Lender’s Percentage of the Commitments in favor of such Eligible Assignee as Borrower may designate with the approval of the Administrative Agent, subject to payment in full by such Eligible Assignee of all principal, interest and fees and any other amount owing to such Lender through the date of assignment.
Upon the effective date of such Commitments Assignment and Acceptance, the assignee named therein shall be a Lender for all purposes of this Agreement, with a Percentage and Commitment amount as therein (and herein, if such assignee was already a Lender) set forth and, to the extent of the portion of the Commitment assigned, the assigning Lender shall be released from its further obligations under this Agreement.
Upon notice from Borrower, such Lender shall execute and deliver a Commitments Assignment and Acceptance covering that Lender’s Percentage of the Commitments in favor of such Qualified Institutional Lender as Borrower may designate with the approval of the Administrative Agent, subject to payment in full by such assignee of all principal, interest and fees and any other amount owing to such Lender through the date of assignment.
Borrower, the Administrative Agent and the Banks shall deem and treat the Persons listed as Banks in the Register as the holders and owners of the Commitments listed therein for all purposes hereof, and no assignment or transfer of any such Commitment shall be effective, in each case unless and until a Commitments Assignment and Acceptance effecting the assignment or transfer thereof shall have been accepted by the Administrative Agent and recorded in the Register as provided above.
After receipt of a completed Commitments Assignment and Acceptance executed by any Lender and an assignee, and receipt of an assignment fee of $3,500 from such Lender or assignee, the Administrative Agent shall, promptly following the effective date thereof, provide to the Borrowers and the Lenders a revised Schedule 1.1 giving effect thereto.
Assignee hereby confirms the representations and warranties made in Section 3 of the Commitments Assignment and Acceptance for the benefit of Administrative Agent and the Borrower.
After receipt of a completed Commitments Assignment and Acceptance executed by any Bank and an Eligible Assignee and the Notes subject to such assignment, and receipt of an assignment fee of $3,500 from such Bank or Eligible Assignee, the Administrative Agent shall, promptly following the effective date thereof, upon the request of any party, provide to Borrower and the Banks a revised Schedule 1.1 giving effect thereto.