Acceptance by Assignee Lender Sample Clauses

The "Acceptance by Assignee Lender" clause defines the requirement that any new lender, to whom a loan or interest is being assigned, must be formally accepted by the existing parties or the administrative agent. In practice, this means that before a lender can transfer its rights or obligations under a loan agreement to another party, the proposed assignee must meet certain qualifications or obtain approval, often through a written consent process. This clause ensures that only suitable and creditworthy entities become lenders, thereby protecting the interests of the borrower and other lenders and maintaining the integrity of the lending group.
Acceptance by Assignee Lender. By its execution of this Agreement, Assignee Lender irrevocably purchases, assumes and accepts such assignment and delegation and agrees to be a Lender with respect to the delegated interest under the Loan Documents and to be bound by the terms and conditions thereof. By its execution of this Agreement, Assignor Lender agrees, to the extent provided herein, to relinquish its rights and be released from its obligations and duties under the Credit Agreement.
View SourceView Similar (71)
Acceptance by Assignee Lender. By its execution of this Agreement, as of the Effective Date, Assignee Lender irrevocably purchases, assumes and accepts such assignment and delegation and agrees to be a Lender with respect to the delegated interest under the Loan Documents and to be bound by the terms and conditions thereof, and hereby makes and agrees to be bound by all of the representations, warranties and agreements set forth in Section 1 of Schedule II. By its execution of this Agreement, Assignor Lender agrees, to the extent provided herein, to relinquish its rights (excluding any rights which survive execution of this Agreement pursuant to Section 10.1(B) of the Credit Agreement) and be released from its obligations and duties under the Credit Agreement.
View SourceView Similar (2)
Acceptance by Assignee Lender. By its execution of this Agreement, Assignee Lender irrevocably purchases, assumes and accepts the transfer, assignment and delegation from Assignor Lender with respect to the Revolving Credit Loans, the Obligations, the Multi-Party Agreement, the Loan Documents, the Collateral and the Commitment on the terms and conditions provided in this Agreement (the "Assignment and Delegation"), and agrees to be bound by the terms and conditions thereof. Assignee Lender hereby unconditionally and absolutely releases and discharges Assignor Lender and agrees to indemnify and hold harmless Assignor Lender, from and against any and all duties, liabilities and other obligations of any kind whatsoever arising from, under or in connection with the Revolving Credit Loans, the Obligations, the Multi-Party Agreement, the Loan Documents, the Collateral and the Commitment assigned to, and/or assumed by Assignee Lender hereunder, to the extent that such duties, liabilities or other obligations relate to actions taken or omitted to be taken by or on behalf of Assignee Lender after the effectiveness of the Assignment and Delegation; provided, that such release and indemnification shall not apply to any duties, liabilities or other obligations arising from a breach of Assignor Lender's representations, warranties and covenants under Section 3.2 hereof. By its execution of this Agreement, Assignor Lender agrees, to the extent provided herein, to relinquish its rights and be released from those obligations and duties under the Multi-Party Agreement, the Loan Documents and the Commitment that have been assigned and delegated to Assignee Lender hereunder.
View Source

Related to Acceptance by Assignee Lender

  • Assumption by Assignee Any assignment of all or any portion of an Entire Interest in the Company permitted under this Article 10 shall be in writing, and shall be an assignment and transfer of all of the assignor’s rights and obligations hereunder with respect to the portion of the Entire Interest transferred, and the assignee shall expressly agree in writing to be bound by all of the terms of this Agreement and assume and agree to perform all of the assignor’s agreements and obligations existing or arising at the time of and subsequent to such assignment. Upon any such permitted assignment of all or any portion of an Entire Interest, and after such assumption, the assignor shall be relieved of its agreements and obligations hereunder arising after such assignment with respect to the interest transferred, and, in the case of a transfer of an Entire Interest, the assignee shall become a Member in place of the assignor. An executed counterpart of each such assignment of all or any portion of an Entire Interest in the Company and assumption of a Member’s obligations shall be delivered to each Member and to the Company. The assignee shall pay all expenses incurred by the Company in admitting the assignee as a Member. Except as otherwise expressly provided herein, no permitted assignment shall terminate the Company. As a condition to any assignment of all or any portion of an Entire Interest, the selling Member shall obtain such consents as may be required from third parties, if any, or waivers thereof. The other Members shall use reasonable efforts to cooperate with the selling Member in obtaining such consents or waivers.

  • Purchase by Assignee The Assignee reserves the right to bid for the property whether by itself or its agent or the Auctioneer (without payment of any deposit whatsoever). In the event the Assignee is declared the Purchaser, then the purchase price or so much as is applicable shall be set off against the indebtedness owing to the Assignee under the loan and security documentation on the date of sale, plus costs and expenses for the sale or incidental thereto.

  • Acceptance by Issuer The Issuer acknowledges its acceptance pursuant to this Agreement, of all right, title and interest in and to the Receivables and the other Transferred Assets conveyed by the Seller pursuant to this Agreement and declares and shall declare from and after the date hereof that the Issuer holds and shall hold such right, title and interest, upon the terms and conditions set forth in this Agreement.

  • Acceptance by the Transferee The Transferee agrees to comply with all covenants and restrictions applicable to a Holder of the 2012-1 SUBI Certificate and the interest in the 2012-1 SUBI represented thereby, whether set forth in the 2012-1 SUBI Certificate, in the SUBI Trust Agreement or otherwise, and assumes all obligations and liabilities, if any, associated therewith.

  • Acceptance by Recipient This Agreement must be signed by the Chief Executive Officer of the Recipient and returned to, and received by, the OPWC within forty-five (45) days of the date written on the first page of this Agreement. Failure of the Recipient to return a fully executed copy of this Agreement to the OPWC within the forty-five (45) day limit will result in this Agreement being declared null and void. However, upon the Recipient presenting the Director with a written explanation of the need to extend this forty-five (45) day limit, the Director, in his sole discretion, may extend the forty-five (45) day limit.