Common use of Benefit of Agreement Assignments Participations Clause in Contracts

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. (a) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted 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 transfer, assign or sell non-voting 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” hereunderhereunder and Lender shall retain (and not grant participations or assignments in) at least 51% of the Revolving Loans, the Commitments and the Term Loan. 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. (a) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted 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 transfer, assign or sell non-voting 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” hereunderhereunder and Lender shall retain (and not grant participations or assignments in) at least 51% of the Revolving Loans, the Commitments and each Term Loan. 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. (a) This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted 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 transfer, assign or sell non-voting 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” hereunderhereunder and ▇▇▇▇▇▇ shall retain (and not grant participations or assignments in) at least 51% of the Revolving Loans, the Commitments and the Term Loan. 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.