Notice of Assignment and Acceptance definition
Examples of Notice of Assignment and Acceptance in a sentence
Assignor and Assignee have caused this Notice of Assignment and Acceptance to be executed by their respective duly authorized officials, officers or agents as of the date first above mentioned.
A copy of a Notice of Assignment and Acceptance shall be delivered to the Administrative Agent with respect to any assignment.
The effective date of any such assignment shall be as specified in the Notice of Assignment and Acceptance, but not earlier than the date which is five Business Days after the date the Administrative Agent has received the Notice of Assignment and Acceptance.
Any Lender being replaced shall execute and deliver a Notice of Assignment and Acceptance covering that Lender's Commitment.
Assignor and Assignee have each caused this Notice of Assignment and Acceptance to be executed by its duly authorized officials, officers or agents as of the date first above mentioned.
Immediately upon each Assignee's making its processing fee payment under the Notice of Assignment and Acceptance, this Agreement, shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom.
Upon execution of a Notice of Assignment and Acceptance by such Eligible Assignee in which it agrees to abide by all of the terms, conditions and obligations applicable to a Bank herein and to have a Commitment as specified in such agreement, such Eligible Assignee shall be deemed a Bank hereunder to the same extent as if it were a signatory hereto and, thereafter, such Eligible Assignee shall for all purposes be considered a "Bank" hereunder.
Upon acceptance by Administrative Agent of such Notice of Assignment and Acceptance and approval thereto by Administrative Agent and Issuing Lender and payment of the requisite fee described below, the Eligible Assignee named therein shall be a Lender for all purposes of this Agreement, with the Pro Rata Share therein set forth and, to the extent of such Pro Rata Share, the assigning Lender shall be released from its further obligations under this Agreement.
The Agent shall record the information contained in the Notice of Assignment and Acceptance in the Register.
Upon acceptance by the Agent of such Notice of Assignment and Acceptance and consent thereto by Agent and the Company, if required, and payment of the requisite fee described below, the Eligible Assignee named therein shall be a Bank for all purposes of this Agreement, with the Pro Rata Share therein set forth and, to the extent of such Pro Rata Share, the assigning Bank shall be released from its further obligations under this Agreement.