Common use of Consequences of Assignment Clause in Contracts

Consequences of Assignment. From and after the effective date specified in each Assignment and Acceptance Agreement and payment by such Assignee to such assignor Lender of an amount equal to the purchase price agreed between such transferor Lender and such Assignee provided that the parties have complied with Section 13.13(c) above, such Assignee shall be a Lender party to this Credit Agreement and, to the extent of the interest assigned by such Assignment and Acceptance Agreement, shall have all the rights and obligations of a Lender with a Commitment/Loans as set forth in such Assignment and Acceptance Agreement, and the assignor Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance Agreement, be released from its obligations hereunder to a corresponding extent (and, in the case of an Assignment and Acceptance Agreement covering all of the obligations under this Credit Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Section 4 hereof with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon the consummation of any assignment pursuant to Section 13.13(c) hereof, the transferor Lender, Administrative Agent and Borrowers shall make appropriate arrangements so that, if required, new Notes are issued to such Assignee and the transferor Lender.

Consequences of Assignment. From Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 12.11(e) hereof, from and after the effective date specified in each Assignment and Acceptance Assumption Agreement and payment by such Assignee to such assignor Lender of an amount equal to the purchase price agreed between such transferor Lender and such Assignee provided that the parties have complied with Section 13.13(c) aboveAssignee, such Assignee shall be a Lender party to this Credit Agreement and, to the extent of the interest assigned by such Assignment and Acceptance Assumption Agreement, shall have all the rights and obligations of a Lender with a Commitment/Loans as set forth in such Assignment and Acceptance Assumption Agreement, and the assignor Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance Assumption Agreement, be released from its obligations hereunder to a corresponding extent (and, in the case of an Assignment and Acceptance Assumption Agreement covering all of the obligations under this Credit Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Section 4 hereof with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon the consummation of any assignment pursuant to Section 13.13(c) hereofsubsection (c), the transferor Lender, Administrative Agent and Borrowers Borrower shall make appropriate arrangements so that, if required, new Notes are issued to such Assignee and the transferor Lender.