Common use of Effectiveness of Assignments Clause in Contracts

Effectiveness of Assignments. Subject to acceptance and recording thereof pursuant to paragraphs (b) and (c) below, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Bank under this Agreement, and the assigning Bank thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Bank’s rights and obligations under this Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the rights referred to in Sections 5.01, 5.04, 5.06 and 11.

Effectiveness of Assignments. Subject to acceptance and recording thereof pursuant to paragraphs (b) and paragraph (c) below, from and after the effective date specified in each Assignment and Assumption, Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Bank Lender under this Agreement, and the assigning Bank Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning BankLender’s rights and obligations under this Agreement, such Bank Lender shall cease to be a party hereto but shall continue to be entitled to the rights referred to in Sections 5.012.13, 5.042.14, 5.06 2.15 and 119.

Effectiveness of Assignments. Subject to acceptance and recording thereof pursuant to paragraphs (b) and paragraph (c) belowof this Section 9.04, from and after the effective date specified in each Assignment and Assumption, Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Bank Lender under this Agreement, and the assigning Bank Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning BankLender’s rights and obligations under this Agreement, such Bank Lender shall cease to be a party hereto but shall continue to be entitled to the rights referred to in Sections 5.01, 5.04, 5.06 and 11.benefits

Effectiveness of Assignments. Subject to acceptance and recording thereof pursuant to paragraphs paragraph (b) and (c) below, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Bank under this Agreement, and the assigning Bank thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Bank’s 's rights and obligations under this Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the rights referred to in Sections 5.01, 5.04, 5.05, 5.06 and 11.