02A Assignment and Assumption Clause Samples

02A Assignment and Assumption. (a) In consideration of the Borrower's acceptance of the obligations of the Original Borrower under this Agreement and the other Transaction Documents the sufficiency of which is hereby acknowledged, effective on the Effectiveness Date, the Original Borrower hereby assigns to the Borrower, without recourse, and the Borrower hereby accepts and assumes all of the Original Borrower's rights and obligations under this Agreement and the other Transaction Documents. (b) From and after the Effectiveness Date, (i) the Borrower shall be a party to and be bound by all of the terms of this Agreement and the other Transaction Documents and shall have the rights and obligations (including, without limitation, with respect to Advances and the pledge of Student Loans financed hereunder) of the Borrower thereunder and (ii) the Original Borrower shall relinquish its rights and be released from its obligations under this Agreement and the other Transaction Documents. (c) As of the Effectiveness Date, the Lender, the Alternate Lender and the Facility Agent hereby consent to such assignment and assumption.
View Source

Related to 02A Assignment and Assumption

  • Assignment and Assumption The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

  • Assignment and Assumption Agreement The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption Agreement, together with a processing and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire provided by the Administrative Agent.

  • Assignment and Assumption Consent Effective as of the First Amendment Effective Date, for agreed consideration, ▇▇▇ hereby irrevocably sells and assigns to MBL, and MBL hereby irrevocably purchases and assumes all rights and obligations in its capacity as Lender under the LC Reimbursement Agreement and other Credit Documents, including, without limitation, all of MBL’s rights and obligations with respect to the Collateral and Intercreditor Agreement and the Security Documents (as defined in the Collateral and Intercreditor Agreement, and such Security Documents together with the Collateral and Intercreditor Agreement are referred to herein as the “Security Documents”) (the “Lender Assignment”). Effective as of the First Amendment Effective Date and in accordance with Section 7.9 of the LC Reimbursement Agreement, the Account Party hereby consents to the Lender Assignment.

  • Assignment and Assumption of Contracts Two (2) counterpart originals of the Assignment and Assumption of Contracts, duly executed by Buyer.

  • Assignment and Assumption of Leases Two (2) counterparts of the Assignment and Assumption of Leases, executed, acknowledged and sealed by Purchaser;