Common use of Assignments and Participations in Loans Clause in Contracts

Assignments and Participations in Loans. A) Each Lender may assign its rights and delegate its obligations under this Agreement to an Eligible Assignee; provided, that (a) such Lender shall first obtain the written consent of Agent, which shall not be unreasonably withheld, (b) the amount of Commitments and Loans of the assigning Lender being assigned shall in no event be less than the lesser of (i) $5,000,000 or (ii) the entire amount of the Commitments and Loans of such assigning Lender and (c)

Appears in 2 contracts

Sources: Loan and Security Agreement (Spincycle Inc), Loan and Security Agreement (Spincycle Inc)