Common use of Assignments and transfers by the Lender Clause in Contracts

Assignments and transfers by the Lender. (a) Subject to this Clause ‎23, a Lender (the “Existing Lender”) may, without the prior written consent of the Borrowers, assign, transfer or enter into any sub-participation in respect of any of its rights and obligations under or in connection with the Finance Documents, in whole or in part, to: (i) another bank or financial institution included in sections (2) to (4) of the first supplement of the Securities Law, 5728-1968 and any ‘investment basket’ (‘S▇▇ Hashkaot’) comprising the activities of any such entities in connection with the consolidation of any of their investment activity, or any of their affiliates, (but except for any hedge funds) or similar entities regulated under any foreign law; or to a fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets, and is acceptable to the Borrower, which consent shall not be unreasonably withheld or delayed; or – (ii) if a Default has occurred and is continuing – to any other entity. (the “New Lender”). (b) The New Lender shall become a Party as a “Lender”. (c) Notwithstanding anything provided under this Clause ‎23, the Lender may without consulting with or obtaining consent from the Borrowers, at any time: (i) charge, assign or otherwise create Security Interest in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of the Lender; (ii) enter into any securitization or risk transfer transaction.