Assignments and transfers by the Lender. (a) The Lender may, subject to the following provisions of this Subclause, at any time assign or transfer (including by way of novation) any of its rights and obligations under this Agreement to any other person (the New Lender). (b) A transfer of obligations will be effective only if the New Lender confirms to the Company that it is bound by the terms of this Agreement as the Lender. On the transfer becoming effective in this manner the Lender will be released from its obligations under this Agreement to the extent that they are transferred to the New Lender.
Appears in 2 contracts
Sources: Credit Facility Agreement (Signature Eyewear Inc), Credit Facility Agreement (Signature Eyewear Inc)