Payments on Assignment Effective Date Clause Samples
The "Payments on Assignment Effective Date" clause establishes the requirement for certain payments to be made as of the date an assignment becomes effective. Typically, this clause specifies that any outstanding amounts owed under the original agreement must be settled, or that a specific payment is due, when the rights and obligations are transferred to a new party. For example, if a contract is assigned from one company to another, the assignee may be required to pay any accrued fees or a lump sum on the effective date of the assignment. This clause ensures that financial obligations are clear and settled at the time of assignment, preventing disputes over unpaid amounts and facilitating a smooth transition between parties.
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Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee, and the assumption by Assignee, of the Assigned Rights and Obligations, on the Assignment Effective Date Assignee shall pay to Assignor such amounts as are specified in any written agreement or exchange of letters between them and additionally shall pay to Administrative Agent a assignment processing fee of $4,500.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of Assignee's Share of Assignor's Participating Commitment and Funded Participant's Interest as set forth above, Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents Assignee's Share of the principal amount of the Funded Participant's Interest of Assignor outstanding on the Assignment Effective Date.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to, and the assumption by Assignee of, the Assigned Rights and Obligations, on the Assignment Effective Date: (a) Assignee shall pay to Assignor the principal amount of all Loans made by Assignor pursuant to the Credit Agreement that are attributable to the Assigned Rights and Obligations and outstanding on the Assignment Effective Date; (b) each of Assignor and Assignee shall pay to the other such amounts (if any) as are specified in any written agreement or exchange of letters between them; and (c) Assignee shall pay to Administrative Lender an assignment processing and recordation fee of $_________.
Payments on Assignment Effective Date. (a) In consideration of the assignment by Assignor to Assignee of Assignee's Share and the Loans attributable to Assignee's Share as set forth above, (i) Assignee agrees to pay to Assignor on the Assignment Effective Date an amount in U.S. Dollars which represents the principal amount of the Loans attributable to Assignee's Share made by Assignor pursuant to the Credit Agreement and outstanding on the Assignment Effective Date and (ii) Assignor agrees to pay to Assignee the assignment fee (if any) specified in Annex I hereto on the Assignment Effective Date.
(b) The Agent shall have received, along with the Notice of Assignment, a recordation fee of $3,500 if required pursuant to Section 11.04 of the Credit Agreement.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of Assignee's Share of Assignor's Commitment and Loans as set forth above, [(a)] Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents Assignee's Share of the principal amount of the respective Loans made by Assignee pursuant to the Credit Agreement and outstanding on the Assignment Effective Date [plus interest accrued thereon as of the Assignment Effective Date]2 [and (b) Assignor agrees to pay to Assignee within three Business Days after the Assignment Effective Date the Facility Fee specified in Annex I hereto](3).
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of Assignee's Share of Assignor's Loan Commitment, Loans and LCs as set forth above, (a) Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents Assignee's Share of the principal amount of Loans made by Assignor pursuant to the Loan Agreement and outstanding on the Assignment Effective Date and (b) Assignor agrees to pay to Assignee the Closing Fee (if any) specified in Annex I hereto on the date specified in Annex I hereto.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of Assignee's Share of Assignor's outstanding Revolving Loan Commitment and Advances as set forth above, Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents Assignee's Share of the principal amount of the respective Advances made 260 by Assignor pursuant to the Revolving Loan Commitment and Term Loans, in each case, as outstanding on the Assignment Effective Date.
Payments on Assignment Effective Date. On the Assignment Effective Date, Assignee shall pay to Assignor (a) the principal amount of all Loans made by Assignor pursuant to the Credit Agreement that are attributable to the Assigned Rights and Obligations and outstanding on the Assignment Effective Date, (b) the amount of all Drawing Payments for which Assignor has reimbursed Issuing Bank that are attributable to the Assigned Rights and Obligations and outstanding on the Assignment Effective Date, and (c) the amount of all Term Drawing Payments for which Assignor has reimbursed Issuing Bank that are attributable to the Assigned Rights and Obligations and outstanding on the Assignment Effective Date. Each of Assignor and Assignee shall pay to the other such amounts (if any) as are specified in any written agreement or exchange of letters between them. Assignee (or Assignor if so agreed in writing by Assignor) shall pay to Agent an assignment registration and processing fee of $2,000.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of Assignee's Share of Assignor's Maximum Revolving Loan Amount, Revolving Loans and Letter of Credit Obligations as set forth above, (a) Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents Assignee's Share of the principal amount of Revolving Loans made by Assignor pursuant to the Loan Agreement and outstanding on the Assignment Effective Date and purchase a participation in the Letter of Credit Obligations outstanding on the Assignment Effective Date and (b) Assignor agrees to pay to Assignee the Fees (if any) specified in Annex I hereto on the date specified in Annex I hereto.
Payments on Assignment Effective Date. In consideration of the assignment by Assignor to Assignee of the Assigned Loans as set forth above, Assignee agrees to pay to Assignor on or prior to the Assignment Effective Date an amount specified by Assignor in writing on or prior to the Assignment Effective Date which represents the [amount specified in the Put Agreement] principal amount of the Assigned Loans outstanding on the Assignment Effective Date [plus interest accrued thereon as of the Assignment Effective Date].