Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required by Sections 10.03(a) and (b), and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans assigned to such Purchaser without any further consent or action by the Company, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. Any
Appears in 2 contracts
Sources: Credit Agreement (Valley National Gases Inc), Credit Agreement (Valley National Gases Inc)
Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required by Sections 10.03(a) 12.3.1 and (b)12.3.2, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans Outstanding Credit Exposure under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans Outstanding Credit Exposure assigned to such Purchaser without any further consent or action by the CompanyBorrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 12.
Appears in 2 contracts
Sources: Credit Agreement (Covansys Corp), Credit Agreement (Covansys Corp)
Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required by Sections 10.03(a) 12.3.1 and (b)12.3.2, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans Credit Extensions under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans Credit Extensions assigned to such Purchaser without any further consent or action by the CompanyBorrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 12.
Appears in 2 contracts
Sources: Credit Agreement (Tecumseh Products Co), Credit Agreement (Tecumseh Products Co)
Effect; Effective Date. Upon (i) delivery to the Administrative Agent of an assignment, together with any consents required by Sections 10.03(a) 15.3.1 and (b)15.3.2, and (ii) payment by the assignee of a $3,500 5,000 fee to the Administrative Agent for processing such assignment (unless such fee is waived by the Administrative Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans assigned to such Purchaser without any further consent or action by the CompanyBorrower, the Lenders or the Administrative Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 15.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 15.
Appears in 1 contract
Sources: Credit Agreement (MDC Holdings Inc)
Effect; Effective Date. Upon (i) delivery to the Administrative Agent of an assignment, together with any consents required by Sections 10.03(a) and (bSection 12.3(a), and (ii) payment of a $3,500 fee to the Administrative Agent for processing such assignment (unless such fee is waived by the AgentAdministrative Agent in its sole discretion), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans Outstanding Credit Exposure under the applicable assignment agreement constitutes "“plan assets" ” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "“plan assets" ” under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party theretohereto, and the transferor Lender shall be released with respect to the Commitment and Loans assigned to such Purchaser without any no further consent or action by the CompanyBorrower, the Lenders or the Agent. In Administrative Agent shall be required to release the case of an assignment covering all transferor Lender with respect to the percentage of the assigning Lender's rights Aggregate Commitment and obligations under this AgreementOutstanding Credit Exposure assigned to such Purchaser; provided, such however, that for the avoidance of doubt, the transferor Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, of those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreementLoan Documents. AnyUpon the consummation of any assignment to a Purchaser pursuant to this
Appears in 1 contract
Sources: Term Loan Credit Agreement
Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required by Sections 10.03(a) 12.3.1 and (b)12.3.2, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans Outstanding Credit Exposure under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans Outstanding Credit Exposure assigned to such Purchaser without any further consent or action by the CompanyBorrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. Anybut
Appears in 1 contract
Effect; Effective Date. Upon (ia) delivery to the Agent of an assignmentAssignment Agreement, together with any consents required by Sections 10.03(a) consents, and (b), and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser Assignee to the effect that none of the consideration used to make the purchase of the Commitment Commitments and Loans Outstanding Credit Exposure under the applicable assignment agreement Assignment Agreement constitutes "“plan assets" ” as defined under ERISA and that the rights and interests of the Purchaser Assignee in and under the Loan Documents will not be "“plan assets" ” under ERISA. On and after the effective date of such assignment, such Purchaser the Assignee shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment Commitments and Loans Outstanding Credit Exposure assigned to such Purchaser the Assignee without any further consent or action by the Companyany Borrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's ’s rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 17.3.
Appears in 1 contract
Sources: Loan Agreement (Lithia Motors Inc)
Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required by Sections 10.03(a) 17.1.3.1 and (b)17.1.3.2, and (ii) payment of a $3,500 fee to the Agent for processing such assignment of the fee provided in Section 17.3 (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender Bank party to this Agreement and any other Loan Document executed by or on behalf of the Lenders Banks and shall have all the rights and obligations of a Lender Bank under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender Bank shall be released with respect to the Commitment and Loans assigned to such Purchaser without any further consent or action by the CompanyBorrower, the Lenders Banks or the Agent. In the case of an assignment covering all of the assigning LenderBank's rights and obligations under this Agreement, such Lender Bank shall cease to be a Lender Bank hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Bank of rights or obligations under this Agreement that does not comply with this Section 17.1.3 shall be treated for purposes of this Agreement as a sale by such Bank of a participation in such rights and obligations in accordance with Section 17.1.2.
Appears in 1 contract
Sources: Third Amended and Restated Credit Agreement (NVR Inc)
Effect; Effective Date. Upon (ia) delivery to the Administrative Agent of an assignment, together with any consents required by Sections 10.03(a) 9.3.1 and 9.3.2, and (b), and (ii) payment of a $3,500 fee to the Administrative Agent for processing such assignment (unless such fee is waived by the Administrative Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans assigned to such Purchaser without any further consent or action by the CompanyBorrowers, the Lenders or the Administrative Agent. In the case of an assignment covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations Loans and all interest and fees with respect thereto and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 9.
Appears in 1 contract
Sources: Credit Agreement (Metlife Inc)
Effect; Effective Date. Upon (ia) delivery to the Agent of an assignmentAssignment Agreement, together with any consents required by Sections 10.03(a) consents, and (b), and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser Assignee to the effect that none of the consideration used to make the purchase of the Commitment Commitments and Loans Outstanding Credit Exposure under the applicable assignment agreement Assignment Agreement constitutes "“plan assets" ” as defined under ERISA and that the rights and interests of the Purchaser Assignee in and under the Loan Documents will not be "“plan assets" ” under ERISA. On and after the effective date of such assignment, such Purchaser the Assignee shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment Commitments and Loans Outstanding Credit Exposure assigned to such Purchaser the Assignee without any further consent or action by the Companyany Borrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's ▇▇▇▇▇▇’s rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 17.4.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 17.3.
Appears in 1 contract
Sources: Loan Agreement (Lithia Motors Inc)
Effect; Effective Date. Upon (ia) delivery to the Agent of an assignmentAssignment Agreement, together with any consents required by Sections 10.03(a) and (b)consents, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser Assignee to the effect that none of the consideration used to make the purchase of the Commitment Commitments and Loans Outstanding Credit Exposure under the applicable assignment agreement Assignment Agreement constitutes "“plan assets" ” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "“plan assets" ” under ERISA. On and after the effective date of such assignment, such Purchaser the Assignee shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment Commitments and Loans Outstanding Credit Exposure assigned to such Purchaser the Assignee without any further consent or action by the Companyany Borrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's ’s rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 16.
Appears in 1 contract
Sources: Loan Agreement (Lithia Motors Inc)
Effect; Effective Date. Upon Upon
(i) delivery to the Agent of an assignmenta duly executed Assignment Agreement, together with any consents required by Sections 10.03(a12.3(a) and (b12.3(b), and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified by the Agent in such assignmentAssignment Agreement. The assignment Assignment Agreement shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans Credit Exposure under the applicable assignment agreement Assignment Agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignmentAssignment Agreement, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans Credit Exposure assigned to such Purchaser without any further consent or action by the CompanyBorrowers, the Lenders or the Agent. In the case of an assignment Assignment Agreement covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.3 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 12.
Appears in 1 contract
Effect; Effective Date. Upon (ia) delivery to the Agent of an assignmentAssignment Agreement, together with any consents required by Sections 10.03(a) and (b)consents, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser Assignee to the effect that none of the consideration used to make the purchase of the Commitment Commitments and Loans Outstanding Credit Exposure under the applicable assignment agreement Assignment Agreement constitutes "“plan assets" ” as defined under ERISA and that the rights and interests of the Purchaser Assignee in and under the Loan Documents will not be "“plan assets" ” under ERISA. On and after the effective date of such assignment, such Purchaser the Assignee shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment Commitments and Loans Outstanding Credit Exposure assigned to such Purchaser the Assignee without any further consent or action by the Companyany Borrower, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender's ’s rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of the applicable agreement. AnyAny assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 17.3.
Appears in 1 contract
Sources: Loan Agreement (Lithia Motors Inc)
Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents required assignment notice in the form of Exhibit B and a processing fee of $3,500 (unless otherwise agreed by Sections 10.03(a) and (bAgent in its discretion), and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date as specified in the notice, if it complies with this Section 13.3. From such assignment. The assignment shall contain a representation by effective date, (a) the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA. On and after the effective date of such assignment, such Purchaser Eligible Assignee shall for all purposes be a Lender party to this Agreement and any other under the Loan Document executed by or on behalf of the Lenders Documents, and shall have all the rights and obligations of a Lender thereunder and (b) the assigning Lender shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such assignment notice, relinquish its rights and be released from its obligations under the Loan DocumentsDocuments (and, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Commitment and Loans assigned to such Purchaser without any further consent or action by the Company, the Lenders or the Agent. In in the case of an assignment notice covering all or the remaining portion of the assigning such Lender's ’s rights and obligations under this Agreement, such Lender shall cease to be a Lender hereunder party hereto but shall continue to be entitled to the benefits ofof Sections 3.4, 3.7, 3.9, 5.8, and subject to14.2 and be obligated under Section 12.6 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon consummation of an assignment, those provisions the transferor Lender, Agent and Borrowers shall make appropriate arrangements for issuance of this Agreement and the other Loan Documents which survive payment of the Obligations and termination of replacement and/or new notes, if requested by the applicable agreementtransferee Lender. AnyThe transferee Lender shall comply with Section 5.9 and deliver, upon request, an administrative questionnaire satisfactory to Agent.
Appears in 1 contract
Sources: Loan, Security and Guaranty Agreement (Willbros Group, Inc.\NEW\)