Rights of the Transferee Clause Samples
The "Rights of the Transferee" clause defines the legal entitlements and privileges that are granted to a party who receives an interest, asset, or obligation from another party under an agreement. This clause typically outlines what the transferee can do with the transferred rights, such as using, selling, or enforcing them, and may specify any limitations or conditions attached to those rights. By clearly delineating the scope of the transferee's rights, the clause ensures both parties understand the extent of the transfer and helps prevent future disputes over ownership or usage.
Rights of the Transferee. The parties hereto (other than the New Shareholder) agree that there shall be accorded to the New Shareholder with effect from the Transfer Date all the rights of the Transferor with respect to the Transferred Interest (in each case without prejudice to the rights of the Transferor under the Shareholder's Agreement in respect of any breach by any other party thereto of its obligations thereunder at any time prior to the Transfer Date) as if the New Shareholder had been a party to the Shareholder's Agreement at the date of execution thereof and, with effect from the Transfer Date, the Transferor shall cease to be entitled to those rights.
Rights of the Transferee. The parties hereto (other than the New Shareholder) agree that there shall be accorded to the New Shareholder with effect from the Transfer Date all the rights of a Shareholder with respect to the New Interest as if the New Shareholder had been a party to the Shareholder's Agreement at the date of execution thereof and, with effect from the Transfer Date.
Rights of the Transferee. (a) At any time:
(i) the Transferee may notify any or all of the Obligors of Medallion Loans of the Transferee’s ownership interest in Medallion Loans and direct such Obligors, or any of them, that payment of all amounts payable under any Medallion Loans be made directly to the Servicer, the Collection Account or otherwise as the Transferee shall elect;
(ii) the Transferor shall, at the Servicer’s, the Transferee’s or the Custodian’s request and at the Transferor’s expense, give notice of the Transferee’s interest in Medallion Loans to each Obligor and direct that payments be made directly to the Servicer, the Collection Account or otherwise as the Transferee shall elect; and
(iii) the Transferor shall, at the Servicer’s, the Transferee’s or the Custodian’s request, assemble all Records which the Transferee reasonably believes are necessary or appropriate for the administration and enforcement of Medallion Loans, and shall make the same available to the Transferee at a place selected by the Transferee or its designee.
(b) The Transferor hereby authorizes the Transferee and the Servicer at any time to take any and all steps in the Transferor’s name and on behalf of the Transferor necessary or desirable, in the determination of the Transferee and/or the Servicer, to collect all amounts due under any and all Medallion Loans, including, without limitation, endorsing the Transferor’s name on checks and other instruments representing Collections and enforcing such Medallion Loans.
Rights of the Transferee. Each Originator hereby authorizes the Transferee and the Servicer or their respective designees or assignees under the Contribution Agreement or the Credit Agreement (including, without limitation, the Borrower and the Administrative Agent) to take any and all steps in such Originator’s name reasonably necessary or desirable, in their respective determination, to collect all amounts due under any and all Transferred Receivables contributed or otherwise conveyed or purported to be conveyed by it hereunder, including, without limitation, endorsing the name of such Originator on checks and other instruments representing Collections and enforcing such Transferred Receivables and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment; provided, however, the Administrative Agent or any other assignee under this Agreement shall not take any of the foregoing actions unless a Termination Event or an Amortization Event has occurred and is continuing.
Rights of the Transferee. (a) Except as set forth in Sections 6.1 with respect to the repurchase or Substitution of certain Loan Assets, the Transferee shall have no obligation to account for, replace, substitute or return any Transferred Assets to the Transferor. The Transferee shall have no obligation to account for or to return Interest Collections or Principal Collections, or any interest or other finance charge collected pursuant thereto, to the Transferor, irrespective of whether such Interest Collections and Principal Collections and charges are in excess of the Purchase Price for such Transferred Assets.
(b) The Transferee shall have the right to further assign, transfer, deliver, hypothecate, subdivide or otherwise deal with the Transferred Assets and all of the Transferee’s right, title and interest in, to and under this Agreement, pursuant to the Loan Agreement.
(c) The Transferee shall have the sole right to retain any gains or profits created by buying, selling or holding the Transferred Assets and shall have the sole risk of and responsibility for losses or damages created by such buying, selling or holding.
Rights of the Transferee. (a) Except as set forth in Sections 6.1 and 6.2 with respect to the Repurchase or Substitution of certain Portfolio Investments, the Transferee shall have no obligation to account for, replace, substitute or return any Conveyed Assets to the Transferor. The Transferee shall have no obligation to account for or to return Interest Proceeds or Principal Proceeds, or any interest or other finance charge collected pursuant thereto, to the Transferor, irrespective of whether such Interest Proceeds and Principal Proceeds and charges are in excess of the Purchase Price for such Conveyed Assets.
(b) The Transferee shall have the right to further assign, transfer, deliver, hypothecate, subdivide or otherwise deal with any Conveyed Assets and all of the Transferee’s right, title and interest in, to and under this Agreement, pursuant to this Agreement or the Credit Agreement.
(c) The Transferee shall have the sole right to retain any gains or profits created by buying, selling or holding any Conveyed Assets and shall have the sole risk of and responsibility for losses or damages created by such buying, selling or holding.