Common use of Assignments by Banks Clause in Contracts

Assignments by Banks. If any Bank assigns all or any of its rights and benefits under the Finance Documents in accordance with Clause 38.3 (Assignments and Transfers by Banks), then, unless and until the assignee has delivered a notice to the Facility Agent and the Security Agent confirming in favour of the Facility Agent, the Security Agent, the Arranger, the other Banks and the Obligors that it shall be under the same obligations towards each of them as it would have been under if it had been an original party hereto as a Bank (whereupon such assignee shall become a party hereto as a "Bank"), the Facility Agent, the Security Agent, the Arranger, the other Banks and the Obligors shall not be obliged to recognise such assignee as having the rights against each of them which it would have had if it had been such a party hereto.

Assignments by Banks. If any Bank assigns all or any of its rights and benefits under the Finance Documents in accordance with Clause 38.3 35.3 (Assignments and Transfers by Banks), then, unless and until the assignee has delivered a notice to the Facility Agent and the Security Agent confirming in favour of the Facility Agent, the Arranger, the Security Agent, the Arranger, the other Banks and the Obligors that it shall be under the same obligations towards each of them as it would have been under if it had been an original party hereto to the Finance Documents as a Bank (whereupon such assignee shall become a party hereto to the Finance Documents as a "Bank"), the Facility Agent, the Arranger, the Security Agent, the Arranger, the other Banks and the Obligors shall not be obliged to recognise such assignee as having the rights against each of them which it would have had if it had been such a party heretoto the Finance Documents.

Assignments by Banks. If any Bank assigns all or any of its rights and benefits under the Finance Documents in accordance with Clause 38.3 30.3 (Assignments and Transfers by Banks), then, unless and until the assignee has delivered a notice to the Facility Agent and the Security Agent confirming in favour of the Facility Agent, the Security AgentOriginal Mandated Lead Arrangers, the Arranger, Security Trustee and the other Banks and the Obligors that it shall be under the same obligations towards each of them as it would have been under if it had been an original party hereto as a Bank (whereupon such assignee shall become a party hereto as a "“Bank"”), the Facility Agent, the Security AgentOriginal Mandated Lead Arrangers, the Arranger, Security Trustee and the other Banks and the Obligors shall not be obliged to recognise such assignee as having the rights against each of them which it would have had if it had been such a party hereto.