Common use of Assignment of Loans Clause in Contracts

Assignment of Loans. BANK shall have the unrestricted right at any ------------------- time or from time to time, and without BORROWER's consent, to assign all or any portion of its right and obligations hereunder to one or more banks or other financial institutions (each, an "Assignee"), and BORROWER agrees that it shall execute, or cause to be executed, such documents, including without limitation, amendments to this Agreement and to any other documents, instruments and agreements executed in connection herewith as BANK shall deem necessary to effect the foregoing. In addition, at the request of BANK and any such Assignee, BORROWER shall issue one or more new promissory notes, as applicable, to any such Assignee and, if BANK has retained any of its rights and obligations hereunder following such assignment, to BANK, which new promissory notes shall be issued in replacement of, but not in discharge of, the liability evidenced by the promissory note held by BANK prior to such assignment and shall reflect the amount of the respective commitments and loans held by such Assignee and BANK after giving effect to such assignment. Upon the execution and delivery of appropriate assignment documentation, amendments and any other documentation required by BANK in connection with such assignment, and the payment by Assignee of the purchase price agreed to by BANK, and such Assignee, such Assignee shall be a party to this Agreement and shall have all of the rights and obligations of BANK hereunder (and under any and all other guaranties, documents, instruments and agreements executed in connection herewith) to the extent that such rights and obligations have been assigned by BANK pursuant to the assignment documentation between BANK and such Assignee, and BANK shall be released from its obligations hereunder and thereunder to a corresponding extent.

Assignment of Loans. BANK Bank shall have the unrestricted right at any ------------------- time or from time to time, and without BORROWER's Borrower’s or any Guarantor’s consent, to assign all or any portion of its right and obligations hereunder to one or more banks or other financial institutions (each, an "“Assignee"”), and BORROWER Borrower and each Guarantor agrees that it shall execute, or cause to be executed, such documents, including without limitation, amendments to this Agreement and to any other documents, instruments and agreements executed in connection herewith as BANK Bank shall deem necessary to effect the foregoing. In addition, at the request of BANK Bank and any such Assignee, BORROWER Borrower shall issue one or more new promissory notes, as applicable, to any such Assignee and, if BANK Bank has retained any of its rights and obligations hereunder following such assignment, to BANKBank, which new promissory notes shall be issued in replacement of, but not in discharge of, the liability evidenced by the promissory note held by BANK Bank prior to such assignment and shall reflect the amount of the respective commitments and loans held by such Assignee and BANK Bank after giving effect to such assignment. Upon the execution and delivery of appropriate assignment documentation, amendments and any other documentation required by BANK Bank in connection with such assignment, and the payment by Assignee of the purchase price agreed to by BANKBank, and such Assignee, such Assignee shall be a party to this Agreement and shall have all of the rights and obligations of BANK Bank hereunder (and under any and all other guaranties, documents, instruments and agreements executed in connection herewith) to the extent that such rights and obligations have been assigned by BANK Bank pursuant to the assignment documentation between BANK Bank and such Assignee, and BANK Bank shall be released from its obligations hereunder and thereunder to a corresponding extent.