Assignment by the Lender. (1) The rights, benefits and obligations of the Lender under or in respect of this Agreement or any other Loan Document may, in whole or in part be assigned by the Lender with the prior written consent of the Borrower; provided however, if an Event of Default has occurred and is continuing, the Lender may assign or otherwise transfer its rights, benefits and obligations in respect of this Agreement or any other Loan Document to any Person, without the prior written consent of any Credit Party. (2) An assignment by the Lender of its rights hereunder will not constitute a repayment, discharge, rescission, extinguishment or novation of the Loan or interest therein, and the obligations so assigned shall continue to be the same obligations and not new obligations.
Appears in 3 contracts
Sources: Credit Agreement (Valens Company, Inc.), Credit Agreement (SNDL Inc.), Credit Agreement (Valens Company, Inc.)