ASSIGNMENT TO ADMINISTRATIVE AGENT Sample Clauses

The "Assignment to Administrative Agent" clause designates a specific party, known as the administrative agent, to whom certain rights or interests under the agreement are assigned. In practice, this means that the administrative agent is empowered to act on behalf of other parties, such as lenders in a syndicated loan, to manage administrative tasks, enforce rights, or hold collateral. This clause streamlines the management of complex agreements by centralizing authority and responsibility, thereby reducing administrative burdens and ensuring consistent enforcement of the contract's terms.
ASSIGNMENT TO ADMINISTRATIVE AGENT. In the event of the foreclosure of this Mortgage or other transfer of the title to the Mortgaged Property in extinguishment of the Secured Indebtedness, all right, title and interest of Mortgagor in and to any insurance policy, or premiums or payments in satisfaction of claims or any other rights under these insurance policies and any other insurance policies covering the Mortgaged Property shall pass to the transferee of the Mortgaged Property.
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ASSIGNMENT TO ADMINISTRATIVE AGENT. The Lenders acknowledge that the Company has previously assigned to the Administrative Agent, and granted the Administrative Agent a continuing security interest in, all of its personal property, including its rights under this Agreement. In furtherance of the foregoing (and without limiting any right of the Administrative Agent under the Guaranty and Collateral Agreement (as defined in the Credit Agreement) or applicable law), the Company hereby assigns to the Administrative Agent, and grants to the Administrative Agent a security interest in, all of its rights under this Agreement, including, without limitation, the right to exercise the Put Right, the right to give notice of the exercise of the Put Right and the right to receive the proceeds of the purchase and sale of the Notes. The Lenders hereby acknowledge the foregoing assignment and grant, and the Company and the Lenders agree that the Administrative Agent shall have, and be permitted to exercise, all of the rights of the Company hereunder without any consent of the Company, any Lender or any other person or entity.
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ASSIGNMENT TO ADMINISTRATIVE AGENT. The Seller hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Borrower to the Administrative Agent for the benefit of the Secured Parties of or in all right, title and interest of the Borrower in, to and under the Receivables and Other Conveyed Property, and/or the assignment of any or all of the Borrower's rights and obligations hereunder to the Administrative Agent. All rights of the Borrower hereunder may be exercised by the Administrative Agent for the benefit of the Secured Parties or their assignees to the extent of their respective rights pursuant to such assignments. Any assignee (including, but not limited to, any Secured Party) is hereby intended by the parties hereto to be a third-party beneficiary of this Agreement.
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ASSIGNMENT TO ADMINISTRATIVE AGENT. ▇▇▇▇▇▇, as “Buyer” under the Original Master Repurchase Agreement, hereby assigns all of its rights, title and interest in and to the Purchased Items, Servicing Rights and all other collateral described in Section 6 thereunder to Administrative Agent, on behalf of Buyers.
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ASSIGNMENT TO ADMINISTRATIVE AGENT. Each of the Sellers hereby ---------------------------------- acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Borrower to the Administrative Agent for the benefit of the Secured Parties of or in all right, title and interest of the Borrower in, to and under the Receivables and Other Conveyed Property, and/or the assignment of any or all of the Borrower's rights and obligations hereunder to the Administrative Agent. All rights of the Borrower hereunder may be exercised by the Administrative Agent for the benefit of the Secured Parties or their assignees to the extent of their respective rights pursuant to such assignments. Any assignee (including, but not limited to, any Secured Party) is hereby intended by the parties hereto to be a third-party beneficiary of this Agreement.
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ASSIGNMENT TO ADMINISTRATIVE AGENT. The Lessor and each Lessee hereby (a) acknowledges that all of the rights of the Lessor under this Master Lease and the Lease Supplements (other than Shared Rights and the right to receive certain Excepted Payments) have been assigned by the Lessor to the Administrative Agent for the benefit of the Lenders pursuant to the Assignment of Leases and Rents to secure the obligations of the Lessor under the Loan Agreement and (b) agrees that the Administrative Agent may (x) exercise any rights granted to the Lessor and (y) accept payments otherwise payable to or receivable by the Lessor under this Master Lease (other than payments with respect to Excepted Payments payable to the Lessor).
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ASSIGNMENT TO ADMINISTRATIVE AGENT. GSBUSA, as “Buyer” under the Original Master Repurchase Agreement, hereby assigns all of its rights, title and interest in and to the Purchased Items, Servicing Rights and all other collateral described in Section 6 thereunder to Administrative Agent, on behalf of Buyers.
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Related to ASSIGNMENT TO ADMINISTRATIVE AGENT

  • Payments to Administrative Agent A payment by the Borrower to the Administrative Agent hereunder or any of the other Loan Documents for the account of any Lender shall constitute a payment to such Lender. The Administrative Agent agrees promptly to distribute to each Lender such Lender’s pro rata share of payments received by the Administrative Agent for the account of the Lenders except as otherwise expressly provided herein or in any of the other Loan Documents.

  • Resignation of Administrative Agent and Successor Administrative Agent The Administrative Agent may resign at any time by giving ten days written notice thereof to the Lenders and the Borrower. If the Administrative Agent is a Defaulting Lender or an Affiliate of a Defaulting Lender, either the Required Lenders or the Borrower may, upon ten (10) days’ notice to the Borrower, the Lenders and the Administrative Agent, remove the Administrative Agent (such retiring or replaced Administrative Agent, the “Departing Administrative Agent”). The Administrative Agent shall have the right to appoint a financial institution (which shall be a commercial bank with an office in the U.S. having combined capital and surplus in excess of $1 billion) to act as Administrative Agent and/or Collateral Agent hereunder, with the written consent of the Borrower and the Required Lenders (not to be unreasonably withheld), and the Administrative Agent’s resignation shall become effective on the earliest of (i) 30 days after delivery of the notice of resignation, (ii) the acceptance of such successor Administrative Agent by the Borrower and the Required Lenders or (iii) such other date, if any, agreed to by the Borrower and the Required Lenders. Upon any such notice of resignation or any such removal, if a successor Administrative Agent has not already been appointed by the retiring Administrative Agent, the Required Lenders shall have the right, upon the written consent of the Borrower (not to be unreasonably withheld), to appoint a successor Administrative Agent. If neither the Required Lenders nor the Administrative Agent have appointed a successor Administrative Agent, the Required Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent; provided that until a successor Administrative Agent is so appointed by Required Lenders or the Administrative Agent, any collateral security held by the Administrative Agent in its role as Collateral Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents shall continue to be held by the retiring Collateral Agent as nominee until such time as a successor Collateral Agent is appointed. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the Departing Administrative Agent and the Departing Administrative Agent shall promptly (i) transfer to such successor Administrative Agent all sums, securities and other items of Collateral held under the Collateral Documents, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Administrative Agent under the Loan Documents, and (ii) execute and deliver to such successor Administrative Agent such amendments to financing statements, and take such other actions, as may be necessary or appropriate in connection with the assignment to such successor Administrative Agent of the security interests created under the Collateral Documents, whereupon such Departing Administrative Agent shall be discharged from its duties and obligations hereunder. Except as provided above, any resignation or removal of JPMorgan Chase Bank, N.A. or its successor as Administrative Agent pursuant to this Section shall also constitute the resignation or removal of JPMorgan Chase Bank, N.A. or its successor as Collateral Agent. After any Departing Administrative Agent’s resignation or replacement hereunder as Administrative Agent, the provisions of this ARTICLE 9 and all protective provisions of the other Loan Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent, but no successor Administrative Agent shall in any event be liable or responsible for any actions of its predecessor. Any successor Administrative Agent appointed pursuant to this Section shall, upon its acceptance of such appointment, become the successor Collateral Agent of all purposes hereunder.

  • Assignment by the Administrative Agent The Administrative Agent may from time to time assign the Secured Obligations to a successor Administrative Agent appointed in accordance with the Credit Agreement, and such successor shall be entitled to all of the rights and remedies of the Administrative Agent under this Agreement in relation thereto.

  • Resignation of Administrative Agent The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.

  • Successor Administrative Agent and Collateral Agent (a) The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the Lenders and the Company. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 8(a) or Section 8(f) with respect to any Borrower shall have occurred and be continuing) be subject to approval by the Company (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent and the term “Administrative Agent” shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective, and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders under this Agreement appoint a successor agent as provided for above. After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents.