Common use of New Notes Clause in Contracts

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrower, at the applicable assignee’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31), a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).

Appears in 7 contracts

Samples: Credit Agreement (Global Net Lease, Inc.), Credit Agreement (Global Net Lease, Inc.), Senior Secured Credit Agreement (Healthcare Trust, Inc.)

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New Notes. Upon its their receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent Agents shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the AgentAgents, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note or Notes to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this Section 19.4, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Agents, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 5 contracts

Samples: Credit Agreement (BTHC VII Inc), Term Loan Credit Agreement (Whitehall Jewellers Inc), Subordinated Credit Agreement (Whitehall Jewelers Holdings, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, to the extent applicable, the Applicable Agent shall (a) record the information contained therein in the Applicable Register, and (b) give prompt notice thereof to the Borrowers. Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall shall, upon the request of such assignee made through the Applicable Agent, execute and deliver to the Applicable Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, upon the request of such assigning Lender made through the Applicable Agent, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 5 contracts

Samples: Senior Secured Syndicated Facility Agreement (Genesee & Wyoming Inc), Syndicated Facility Agreement (Genesee & Wyoming Inc), Syndicated Facility Agreement (Genesee & Wyoming Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the AgentIf requested, the Borrower, at the applicable assignee’s its own expense, shall shall, promptly upon its receipt thereof, execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered NotesNotes (after giving effect to any permanent reductions in the applicable Commitments), shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 4 contracts

Samples: Credit Agreement (CAI International, Inc.), Term Loan Agreement (CAI International, Inc.), Credit Agreement (SeaCube Container Leasing Ltd.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 4 contracts

Samples: Secured Term Loan Agreement (First Potomac Realty Trust), Secured Term Loan Agreement (First Potomac Realty Trust), Secured Term Loan Agreement (First Potomac Realty Trust)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agent, the The Borrower, at the applicable assignee’s its own expense, shall shall, promptly upon its receipt thereof, execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered NotesNotes (after giving effect to any permanent reductions in the applicable Commitments), shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 4 contracts

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Credit Agreement (SeaCube Container Leasing Ltd.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to Borrower and Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, upon Lender’s request and at the applicable assigneeLender’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Revolving Loan Note, Term Loan Note or both, as the case may be, to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Revolving Loan Note, Term Loan Note or both, as the case may be, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes of the same category, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 3 contracts

Samples: Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Real Estate Group Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to Borrower and Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, upon Lender’s request and at the applicable assigneeLender’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note Note, to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note Note, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes of the same category, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.), Term Credit Agreement (CorEnergy Infrastructure Trust, Inc.), Term Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 3 contracts

Samples: Credit and Term Loan Agreement (Flextronics International LTD), Revolving Credit and Term Loan Agreement (Stride & Associates Inc), Credit and Term Loan Agreement (Fargo Electronics Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Revolving Credit Note (or an indemnity agreement, as provided in §31)Swingline Note, a new Revolving Credit Note or Swingline Note, as applicable, to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Company and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.19.4, the Company shall deliver an opinion of counsel, addressed to the Banks and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 2 contracts

Samples: Loan Agreement (Holmes Group Inc), And Term Loan Agreement (Holmes Products Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Century Aluminum Co), Credit and Term Loan Agreement (Century Aluminum Co)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, to the extent applicable, the Applicable Agent shall (a) record the information contained therein in the Applicable Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall shall, upon the request of such assignee made through the Applicable Agent, execute and deliver to the Applicable Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, upon the request of such assigning Lender made through the Applicable Agent, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Genesee & Wyoming Inc), Revolving Credit and Term Loan Agreement (Genesee & Wyoming Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, (i) shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note and Swingline Note or Bid Rate Note, if applicable, to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunderhereunder and (ii) shall deliver an opinion from counsel to the Borrower in substantially the form delivered on the Closing Date pursuant to §12.9 as to such new Notes. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Boston Properties Inc), Revolving Credit Agreement (Boston Properties Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Michaels Stores Inc), Revolving Credit Agreement (Michaels Stores Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. Within thirty (30) days of issuance of any new Notes pursuant to this Section 11.15.4, the Borrower, at the expense of the assignee Lender (which expense shall not be reimbursed by Borrower), shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Hines Real Estate Investment Trust Inc), Credit Agreement (Hines Real Estate Investment Trust Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement --------- executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Company and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Leucadia National Corp), Revolving Credit Agreement (Leucadia National Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower and each Co-Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations Loans hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes and that they do not constitute a novation, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.18.4, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, and that the Obligations evidenced by the new Notes have the same validity, enforceability and priority as if given on the Effective Date, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Liberty Property Limited Partnership), Credit Agreement (Liberty Property Limited Partnership)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the REIT, the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon request of the Administrative Agent, within five (5) days of issuance of any new Notes pursuant to this Section 18.4, the Borrowers shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 2 contracts

Samples: Revolving and Term Credit Agreement (Heritage Property Investment Trust Inc), Revolving Credit Agreement and Guaranty (Heritage Property Investment Trust Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Company and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Hasbro Inc), Credit Agreement (Hasbro Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 2 contracts

Samples: Revolving Credit Agreement (McCormick & Schmick Holdings, L.L.C.), Multicurrency Revolving Credit Agreement (Borders Group Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignmentassignment in the case of Revolving Credit Loans and/or a portion of the Term Loan, the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note or Notes to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Revolving Credit Lender or Term Loan Lender has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Note or Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Note or Notes. Within thirty (30) days of issuance of any new Notes pursuant to this ss.18.4, if requested by the assignor or assignee Lender, the Borrowers shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Note or Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Nationsrent Inc), Credit and Term Loan Agreement (Nationsrent Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within Upon the request of such Eligible Assignee, the Borrower shall, within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrowerrequest and, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31), a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note (if so requested by the assigning Bank) to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes (if any) shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Petro Stopping Centers Holdings Lp), Credit and Term Loan Agreement (Petro Stopping Centers L P)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall record the information contained therein in the Register. Within five (5) Business Days after the later of (a) receipt of notice of such assignment from Administrative Agent and (b) a request from the Agentassignee to execute and deliver a new Note to the order of such assignee, the BorrowerBorrowers, at the applicable assignee’s own Borrowers’ expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §Section 31), a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower Parent (or the Borrower Borrowers shall receive an indemnity agreement, as provided in §Section 31).

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.), Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the RegisterRegister and (ii) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained maintained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned NotesNotes delivered at the time of execution of this Agreement. Within five (5) Business Days of issuance of any new Notes pursuant to this Article 14, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity, enforceability and binding effect thereof. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (American Skiing Co /Me)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrower, at the applicable assignee’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31), a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such 144 Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained maintained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an 'amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned NotesNotes delivered at the time of execution of this Agreement. Within five (5) Business Days of issuance of any new Notes pursuant to this Article 14, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity, enforceability and binding effect thereof. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (American Skiing Co /Me)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note or Notes to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Note or Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Note or Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.17.4, if requested by the assignor or assignee Bank, the Borrowers shall deliver an opinion of counsel, addressed to the Banks and the Agent, relating to the due authorization, execution and delivery of such new Note or Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Nationsrent Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption --------- executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, (i) shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunderhereunder and (ii) shall deliver an opinion from counsel to the Borrower in substantially the form delivered on the Closing Date pursuant to (S)11.7 as to such new Notes. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Beacon Properties L P)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Revolving Credit Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this §15.8, the Borrowers shall, upon the request of the assignee Lender, deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the assignee Lender. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Seneca Foods Corp /Ny/)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Lead Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sunglass Hut International Inc)

New Notes. Upon its receipt of an Assignment and Acceptance a Substitution Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment a request from the AgentAgent to do so, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Substitution Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Substitution Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Loan Agreement (Firstcity Financial Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within three (53) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hartman Commercial Properties Reit)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower. 19.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rollins Truck Leasing Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (Gramercy Capital Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Company and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 1 contract

Samples: Revolving Credit Agreement (Leucadia National Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment a request from the AgentAgent to do so, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned NotesNotes in all material respects. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).Borrower. 100

Appears in 1 contract

Samples: Loan Agreement (Procaccianti Hotel Reit, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, (together --------- with each Note subject to such assignment) or Instrument of Accession, as the case may be, executed by the parties thereto the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrowers and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee or Acceding Bank, as the case may be, in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee or Acceding Bank, as the case may be, pursuant to such Assignment and Acceptance Agreement or Instrument of Accession, as the case may be, and, in the event of an assignment, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.20.4, the Borrowers shall deliver an opinion of counsel, addressed to the Banks and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement acceptance executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this Section 15.15.4, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Senior Loan Agreement (NNN 2002 Value Fund LLC)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Loan Account and the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of such notice of such assignment from the AgentAssignee, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Revolving Credit Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Revolving Credit Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.15.3, the Borrowers shall deliver upon the request of the Lender an opinion oF counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Mayors Jewelers Inc/De

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from Agent which includes a request for the Agentexecution of a new Note pursuant to this Section 18.3, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note payable to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note payable to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

New Notes. Upon its receipt of an Assignment and ---------- Acceptance Agreement executed by the parties to such assignment, (together with each Note subject to such assignment) or Instrument of Accession, as the case may be, executed by the parties thereto the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee or Acceding Bank, as the case may be, in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee or Acceding Bank, as the case may be, pursuant to such Assignment and Acceptance Agreement or Instrument of Accession, as the case may be, and, in the event of an assignment, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.20.4, the Borrower shall deliver an opinion of counsel, addressed to the Banks and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower. Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within twenty (20) Business Days after issuance of any new Notes pursuant to this §17.8, the Borrower shall deliver, upon the request of and at the sole expense of the assignee Lender, an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in Borrower. §31)17.9.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telephone & Data Systems Inc /De/)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to Borrower and Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, upon Lender's request and at the applicable assignee’s own Lender's expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note Note, to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note Note, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes of the same category, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrower, at the applicable assignee’s own expense, shall execute and deliver to the Agent, in exchange for each 115 surrendered original Note (or an indemnity agreement, as provided in §31), a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, (together --------- with each Note subject to such assignment) or Instrument of Accession, as the case may be, executed by the parties thereto the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee or Acceding Bank, as the case may be, in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee or Acceding Bank, as the case may be, pursuant to such Assignment and Acceptance Agreement or Instrument of Adherence, as the case may be, and, in the event of an assignment, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.17.4, the Borrower shall deliver an opinion of counsel, addressed to the Banks and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Fairfield Communities Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note or Notes to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Note or Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Note or Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.18.4, if requested by the assignor or assignee Lender, the Borrowers shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Note or Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Nationsrent Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement --------- executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within Upon the request of such Eligible Assignee, the Borrower shall, within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrowerrequest and, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31), a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note (if so requested by the assigning Bank) to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes (if any) shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).

Appears in 1 contract

Samples: And Term Loan Agreement (Petro Stopping Centers L P)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or in the case of an indemnity agreement, as provided in §31)assignment, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunderhereunder in the case of an assignment, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.20.4, the Borrower shall deliver an opinion of counsel, addressed to the Banks and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (HPSC Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note Note, if any, subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall shall, if requested by the assignee or assignor as provided below, execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an 117 amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes Notes, if any, shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Master Credit Agreement (Howard Hughes Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit and Security Agreement (Charter Municipal Mortgage Acceptance Co)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained maintained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to 91 100 the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned NotesNotes delivered at the time of execution of this Agreement. Within five (5) Business Days upon request, following issuance of any new Notes pursuant to this Section 19.4, the Borrower shall deliver an opinion of counsel, addressed to the Lenders and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity, enforceability and binding effect thereof and the applicability of the Guaranties to the new Note. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (Wci Communities Inc)

New Notes. Upon its receipt of an Assignment and ----------- Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of any Lender, the Borrower shall within five (5) days of the issuance of any new Notes pursuant to this Section 17.4, at the requesting Lender's expense, deliver an opinion of counsel, addressed to the Lenders and the Agents, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (United States Cellular Corp)

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New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Revolving Credit Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Company and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Revolving Credit Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Revolving Credit Notes shall provide that they are replacements for the surrendered Revolving Credit Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Revolving Credit Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Revolving Credit Notes. The surrendered original Revolving Credit Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Flextronics International LTD)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (1) record the information contained therein in the Register, and (2) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of such notice and upon receipt of such assignment new unexecuted Notes from the Agent, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to of the applicable Loan(s) assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its rights and obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount of the applicable Loan(s) retained by it hereunderthe assigning Lender. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned surrendered Notes. The surrendered original Notes shall will be canceled cancelled and returned promptly to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Loan Agreement (Edo Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expenseexpense and if requested in such notice, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Secured Term Loan Agreement (First Potomac Realty Trust)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (i) record the information contained therein in the Note Register, and (ii) give prompt notice thereof to the Company and the Holders (other than the assigning Holder). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, Administrative Agent in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee 79 -73- pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Holder has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender Holder in an amount equal to the amount of the Loans retained by it hereunderit. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of the recipient of new Notes or the Administrative Agent, within five (5) days of issuance of such new Notes pursuant to this Section 20.4, the Company shall deliver an opinion of counsel, which may be the general counsel of the Company, addressed to the recipients of the new Notes and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the recipients of the new Notes, the Administrative Agent and the Administrative Agent's Special Counsel. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 1 contract

Samples: Senior Subordinated Note Purchase Agreement (Transtechnology Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Revolving Credit Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Revolving Credit Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Revolving Credit Notes shall provide that they are replacements for the surrendered Revolving Credit Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Revolving Credit Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Revolving Credit Notes. The surrendered original Revolving Credit Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Flextronics International LTD)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Loan Account and the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of such notice of such assignment from the AgentAssignee, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Revolving Credit Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Revolving Credit Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this Section 15.3, the Borrowers shall deliver upon the request of the Lender an opinion of counsel, addressed to the Lenders and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Fao Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement --- ----- executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of any Bank, the Borrower shall within five (5) days of the issuance of any new Notes pursuant to this section 15.4, at the requesting Bank's expense, deliver an opinion of counsel, addressed to the Banks and the Agents, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telephone & Data Systems Inc /De/)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of any Bank, the Borrower shall within five (5) days of the issuance of any new Notes pursuant to this Section 15.4, at the requesting Bank's expense, deliver an opinion of counsel, addressed to the Banks and the Agents, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telephone & Data Systems Inc /De/)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice and delivery of such assignment from new Notes to the AgentBorrowers for execution, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within ten (10) Business Days of issuance of any new Notes pursuant to this Section 19.4, the Borrowers shall deliver an opinion of counsel, addressed to the Banks and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance reasonably satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Terex Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Recording Credit Note Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower Borrower. Such execution and delivery of new and replacement Notes shall be at Borrower's sole cost with respect to the first two (or 2) such assignments hereafter. Thereafter, the Borrower Agent shall receive an indemnity agreement, as provided pay the Borrower's reasonable out-of-pocket expenses in §31)connection with the preparation and delivery of such Notes.

Appears in 1 contract

Samples: Revolving Credit Agreement (Aegis Realty Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expenseexpense and if requested in such notice, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (First Potomac Realty Trust)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they 80 are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Loan Agreement (Metallurg Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five three (53) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assigneesuch Eligible Assignee’s own expenseexpense (not to exceed $500), shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (TNP Strategic Retail Trust, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Dollar Tree Stores Inc)

New Notes. Upon its receipt an assignment of an Assignment and Acceptance Agreement executed by the parties Lender pursuant to such assignment, together with each Note subject to such assignmentthis Section, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrower, at the applicable assignee’s own expense, Borrower shall execute and deliver to the Agentnew lender, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee new lender in an amount equal to the amount assigned to assumed by such assignee new lender pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. Within seven Business Days of issuance of any new Notes pursuant to this subsection, if so requested by Lender, the Borrower shall deliver an opinion of counsel, addressed to Lender, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, substantially in the same form as the corresponding portion of the legal opinion delivered on the date hereof. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower. The Borrower shall receive an indemnity agreement, as provided be reimbursed for reasonable expenses incurred in §31)connection with obtaining such opinion of counsel.

Appears in 1 contract

Samples: Loan Agreement (Urban Cool Network Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Loan Account and the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of such notice of such assignment from the AgentAssignee, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Revolving Credit Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Revolving Credit Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this ss.15.3, the Borrowers shall deliver upon the request of the Lender an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Mayors Jewelers Inc/De)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of any Bank, the Borrower shall within five (5) days of the issuance of any new Notes pursuant to this Section 15.4, at the requesting Bank's expense, deliver an opinion of counsel, addressed to the Banks and the Administrative Agents, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Banks. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (United States Cellular Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. Within thirty (30) days of issuance of any new Notes pursuant to this Section 10.15.4, the Borrower, at the expense of the assignee Lender (which expense shall not be reimbursed by Borrower), shall deliver an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Hines Real Estate Investment Trust Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Stock Pledge Agreement (Metallurg Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower. Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this §15.4, the Borrower shall deliver upon the request of the assignee Lender an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Barnes Group Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to the Borrowers, and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall shall, in respect of U.S. Loans only, execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this Section 22.5, the Borrowers shall deliver an opinion of counsel, addressed to the Lenders, and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and cancelledand returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit (Weider Nutrition International Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to Lead Borrower and Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, upon Lender’s request and at the applicable assigneeLender’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note Note, to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note Note, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes of the same category, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Term Credit Agreement (Emeritus Corp\wa\)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Lender in an amount equal to the amount assigned to assumed by such assignee Lender pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Buca Inc /Mn)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignmentan assigning Lender and an assignee in accordance with Section 11.1, together with each Note any Notes subject to such assignmentassignment and the processing and recordation fee referred to in Section 11.1(iv), the Agent shall shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit C hereto, (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the RegisterRegister and (iii) give prompt notice thereof to the Borrowers. Within five (5) Business Days after its receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, Agent in exchange for each the surrendered original Note (or an indemnity agreement, as provided in §31), a Notes its new Note Notes to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to such assignee Revolving Credit Commitment and Loan assumed by it pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations a Revolving Credit Commitment or Loans hereunder, a new Note Notes to the order of the assigning Lender in an amount amounts equal to the amount Revolving Credit Commitment and Loans retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the such surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled Exhibits A and returned to the Borrower (or the Borrower shall receive an indemnity agreementB hereto, as provided in §31)the case may be.

Appears in 1 contract

Samples: Loan and Security Agreement (General Datacomm Industries Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from the Agent, the Borrower, at the applicable assignee’s their own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note (if requested by the subject Lender) payable to the order of such assignee and its registered assigns in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note payable to the order of the assigning Lender and its registered assigns in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (Highlands REIT, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement --------- executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Value Health Inc / Ct)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Staples Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower. Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note with respect to the Borrower to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Credit Agreement (Wichita Manufacturing Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this §14.4, the Borrower shall deliver upon the request of the assignee Lender an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance reasonably satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Safety Insurance Group Inc)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (i) record the information contained therein in the Register, and (ii) give prompt notice thereof to TransTechnology and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerTransTechnology, at the applicable assignee’s its own expense, shall execute and deliver to the Agent, Agent in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note or Notes to the order of the assigning Lender in an amount equal to the amount retained by it hereunderhereunder as a Lender. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such in Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Upon the request of the recipient of new Notes or the Agent, within five (5) days of issuance of such new Notes pursuant to this Section 20.4, TransTechnology shall deliver an opinion of counsel, which may be the general counsel of TransTechnology, addressed to the recipients of the new Notes and the Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the recipients of the new Notes, the Agent and the Agent's Special Counsel. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)TransTechnology.

Appears in 1 contract

Samples: Credit Agreement (Transtechnology Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement assignment executed by the parties to such assignment, together with each Note (if any) subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to Borrower and Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, upon Lender’s request and at the applicable assigneeLender’s own expense, shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note Note, to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement assignment and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note Note, to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered NotesNotes of the same category, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31).Borrower. 119

Appears in 1 contract

Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement Assumption executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five Unless done simultaneously with the Assignment and Assumption, within two (52) Business Days after receipt of notice of such assignment from the Agentnotice, the Borrower, at the applicable assignee’s its own expense, (i) shall execute and deliver to the Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Revolving Credit Note, a new Revolving Credit Note or Bid Rate Note, if applicable, to the order of such assignee the Eligible Assignee in an amount equal to the amount assigned to assumed by such assignee Eligible Assignee pursuant to such Assignment and Acceptance Agreement Assumption and, if the assigning Lender Bank has retained some portion of its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to the order of the assigning Lender Bank in an amount equal to the amount retained by it hereunderhereunder and (ii) shall deliver an opinion from counsel to the Borrower in substantially the form delivered on the Closing Date pursuant to §12.9 as to such new Notes. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrower.

Appears in 1 contract

Samples: Assignment and Assumption (Boston Properties LTD Partnership)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Credit Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Company and the Lenders (other than the assigning Lender). Within five (5) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerCompany, at the applicable assignee’s its own expense, shall execute and deliver to the Credit Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee Assignee in an amount equal to the amount assigned to assumed by such assignee Assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Company.

Appears in 1 contract

Samples: Mortgage Warehousing and Security Agreement (Ares Commercial Real Estate Corp)

New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrowers and the Lenders (other than the assigning Lender). Within five (5) US or Canadian (as applicable) Business Days after receipt of notice of such assignment from the Agentnotice, the BorrowerBorrowers, at the applicable assignee’s its own expense, shall execute and deliver to the Administrative Agent, in exchange for each surrendered original Note (or an indemnity agreement, as provided in §31)Note, a new Note to the order of such assignee in an amount equal to the amount assigned to assumed by such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. Within five (5) days of issuance of any new Notes pursuant to this (Section)20.8, the Borrowers shall deliver upon the request of the assignee Lender an opinion of counsel, addressed to the Lenders and the Administrative Agent, relating to the due authorization, execution and delivery of such new Notes and the legality, validity and binding effect thereof, in form and substance satisfactory to the Lenders. The surrendered original Notes shall be canceled cancelled and returned to the Borrower (or the Borrower shall receive an indemnity agreement, as provided in §31)Borrowers.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Genesee & Wyoming Inc)

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