Common use of Lender Assignments Clause in Contracts

Lender Assignments. Each Lender may assign all or a portion of its rights and obligations under this Agreement, the Notes and the other Credit Documents, to any Eligible Assignee, upon execution and delivery to Agent, for its acceptance and recording in the Register, of an Assignment and Assumption Agreement, together with surrender of any Note or Notes subject to such assignment and a processing and recordation fee of $3,000.00 payable to Administrative Agent. No such assignment shall be for less than $5,000,000 of the Commitments unless it is to another Lender or any Affiliate of the Lender making such assignment or a Federal Reserve Bank or it constitutes the entire remaining Commitment of the assigning Lender.