Benefit of Agreement Assignments Participations Sample Clauses
The 'Benefit of Agreement; Assignments; Participations' clause defines who is entitled to the rights and obligations under the agreement and governs the transferability of those rights. It typically specifies whether parties can assign their interests or allow third parties to participate in the agreement, such as through loan participations or assignments to affiliates. This clause ensures that only authorized parties benefit from or are bound by the agreement, and it provides a clear framework for how interests may be transferred, thereby preventing unauthorized transfers and maintaining control over contractual relationships.
Benefit of Agreement Assignments Participations. (a) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto; provided, however, that (i) no Credit Party may assign or transfer any of its rights, obligations or interest hereunder or under any other Credit Document without the prior written consent of the Lenders, (ii) although any Lender may grant participations in its rights hereunder, such Lender shall remain a “Lender” for all purposes hereunder (and may not transfer or assign all or any portion of its Commitments hereunder except as provided in Section 11.04(b)) and no participant shall constitute a “Lender” hereunder and (iii) no Lender shall transfer or grant any participation under which the participant shall have rights to approve any amendment to or waiver of this Agreement or any other Credit Document except to the extent such amendment or waiver would (x) extend the final scheduled maturity of any Loan or Note in which such participant is participating, or reduce the rate or extend the time of payment of interest or Commitment Commission thereon (except (I) in connection with a waiver of applicability of any post-default increase in interest rates and (II) that any amendment or modification to the financial definitions in this Agreement shall not constitute a reduction in the rate of interest for purposes of this clause (x)) or reduce the principal amount thereof, or increase the amount of the participant’s participation over the amount thereof then in effect (it being understood that a waiver of any Default or Event of Default or of a mandatory reduction in the Total Commitments shall not constitute a change in the terms of such participation, and that an increase in any Commitment or Loan shall be permitted without the consent of any participant if the participant’s participation is not increased as a result thereof), (y) consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement or (z) release all or substantially all of the Collateral under all of the Security Documents (except as expressly provided in the Credit Documents) securing the Loans hereunder in which such participant is participating. In the case of any such participation, the participant shall not have any rights under this Agreement or any of the other Credit Documents (the participant’s rights against such Lender in respect of such participation to be those set forth in the agreement ...
Benefit of Agreement Assignments Participations. 12.1. Successors and Assigns; Designated Lenders.
Benefit of Agreement Assignments Participations. (a) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto; provided, however, Borrower may not assign or transfer any of its rights, obligations or interest hereunder without the prior written consent of Lender and, provided further, that, although Lender may sell participations in its rights hereunder without the need for notice to, or consent of, Borrower, each participant must be a national or state-chartered bank and a participant shall not constitute a “lender” hereunder. In the case of any such participation, the participant shall not have any rights under this Agreement or any of the other Credit Documents (the participant’s rights in respect of such participation to be those set forth in the agreement executed by Lender in favor of the participant relating thereto) and all amounts payable by Borrower hereunder shall be determined as if Lender had not sold such participation and Lender’s obligations under the Credit Documents shall remain unchanged.
(b) Nothing in this Agreement shall prevent or prohibit Lender from pledging its Loans and Notes hereunder as security for the obligations of such Lender, including to a Federal Reserve Bank in support of borrowings made by Lender from such Federal Reserve.
Benefit of Agreement Assignments Participations. Successors and Assigns 58 12.2 Participations. 59 12.3 Assignments. 60 12.4 Dissemination of Information 61 12.5 Tax Treatment 61
Benefit of Agreement Assignments Participations. Section 15.1. Successors and Assigns Section 15.2. Participations Section 15.3. Assignments
Benefit of Agreement Assignments Participations. 12.1 Successors and Assigns
Benefit of Agreement Assignments Participations. Successors and Assigns 7686 12.2 Participations 7686 12.3 Assignments 7888 12.4 Dissemination of Information 7989
Benefit of Agreement Assignments Participations. Section 12.1 Successors and Assigns; Participations. *
Section 12.2 Dissemination of Information. *
Section 12.3 Tax Treatment. *
Benefit of Agreement Assignments Participations. 13.1. 13.2. PARTICIPATIONS 13.3. ASSIGNMENTS
Benefit of Agreement Assignments Participations. 13.1. 13.2. PARTICIPATIONS 13.3. ASSIGNMENTS 13.4. DESIGNATION OF LENDER TO MAKE COMPETITIVE BID LOANS 13.5. DISSEMINATION OF INFORMATION 13.6. TAX TREATMENT