Common use of Participations Generally Clause in Contracts

Participations Generally. Any Lender may, without the consent of either Borrower, the Administrative Agent or the Letter of Credit Issuer, sell participations to one or more banks or other entities (a "Participant") in all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided that (A) such Lender's obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each Borrower, the Administrative Agent, the Letter of Credit Issuer and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of Section 12.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 3.5 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (ITC Holdings Corp.)

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Participations Generally. Any Lender may, without the consent of either Borrower, the Administrative Agent or the Letter of Credit IssuerAgent, Issuing Bank sell participations to one or more banks or other entities (a "Participant") in all or a portion of such Lender's ’s rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Revolving Credit Commitment Term Loan Pro Rata Share and the Revolving Credit Loans owing to it); provided that (A) such Lender's ’s obligations under this Agreement and the other Loan Documents shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each Borrower, the Administrative Agent, the Letter of Credit Issuer Issuing Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's ’s rights and obligations under this AgreementAgreement and the other Loan Documents. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this AgreementAgreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of first proviso to Section 12.1 10.11 that affects such Participant. Subject to paragraph subclause (c)(ii) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.14, 2.11 2.15 and 3.5 2.16 (subject to the requirements and limitations of such Sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (COHEN & Co INC.)

Participations Generally. Any Lender may, without the consent of either Borrower, the Administrative Agent Borrower or the Letter of Credit IssuerSenior Agent, sell participations to one or more banks or other entities (a "ParticipantPARTICIPANT") in all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided PROVIDED that (A) such Lender's obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each the Borrower, the Administrative Senior Agent, the Letter of Credit Issuer and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided PROVIDED that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of first proviso to Section 12.1 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.12, 2.11 2.13 and 3.5 2.14 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Senior Loan Agreement (Chartermac)

Participations Generally. Any The Lender may, without the consent of either the Borrower, the Administrative Agent or the Letter of Credit Issuer, sell participations to one or more banks or other entities (a "Participant") in all or a portion of such the Lender's ’s rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided that (A) such the Lender's ’s obligations under this Agreement shall remain unchanged, (B) such the Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each Borrower, the Administrative Agent, the Letter of Credit Issuer and the other Lenders Borrower shall continue to deal solely and directly with such the Lender in connection with such the Lender's ’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a the Lender sells such a participation shall provide that such the Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such the Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of Section 12.1 9.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 3.5 Section 2.7 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 9.8 as though it were a Lender.

Appears in 1 contract

Samples: Term Loan Agreement (ITC Holdings Corp.)

Participations Generally. Any Lender may, without the consent of either Borrower, the Administrative Agent Borrower or the Letter of Credit IssuerMezzanine Agent, sell participations to one or more banks or other entities (a "ParticipantPARTICIPANT") in all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided PROVIDED that (A) such Lender's obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each the Borrower, the Administrative Mezzanine Agent, the Letter of Credit Issuer and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided PROVIDED that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of first proviso to Section 12.1 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.12, 2.11 2.13 and 3.5 2.14 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Chartermac)

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Participations Generally. Any Lender may, without the consent of either the Borrower, the Administrative Agent or the Letter of Credit Issuerany Issuing Lender, sell participations to one or more banks or other entities (other than to a "natural person, a Disqualified Lender or any Loan Party or any of its Affiliates) (a “Participant") in all or a portion of such Lender's ’s rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided that (A) such Lender's ’s obligations under this Agreement and the other Loan Documents shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each the Borrower, the Administrative Agent, the Letter of Credit Issuer Issuing Lenders and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's ’s rights and obligations under this AgreementAgreement and the other Loan Documents. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this AgreementAgreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of first proviso to Section 12.1 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.16, 2.11 2.17 and 3.5 2.18 (subject to the same extent as if it were a Lender requirements and had acquired its interest by assignment limitations of such Sections, including the requirement to provide the forms and certificates pursuant to paragraph Section 2.18(e) (b) of this Section. To it being understood that the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 as though it were a Lender.documentation required under

Appears in 1 contract

Samples: Credit Agreement (Eventbrite, Inc.)

Participations Generally. Any Lender may, without the consent of either the Borrower, the Administrative Agent or the Letter of Credit Issuerany Issuing Bank, sell participations to one or more banks or other entities (a "Participant") in all or a portion of such Lender's ’s rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment Commitments and the Revolving Credit Loans owing to held by it); provided that (A) such Lender's ’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each the Borrower, the Administrative Agent, the Letter of Credit Issuer Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's ’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of first proviso to Section 12.1 10.02(b) that affects such Participant. Subject to paragraph (c)(iie)(ii) of this SectionSection 10.04, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.13, 2.11 2.14 and 3.5 2.15 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this SectionSection 10.04. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 10.08 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.16(d) as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (Nextel Communications Inc)

Participations Generally. Any Lender may, without the consent of either Borrower, the Borrower or the Administrative Agent or the Letter of Credit IssuerAgent, sell participations to one or more banks or other entities (a "Participant") in all or a portion of such Lender's ’s rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided that (A) such Lender's ’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) each the Borrower, the Administrative Agent, the Letter of Credit Issuer Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's ’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the third sentence of Section 12.1 11.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, each the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.10 and 2.11 and 3.5 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.8 11.8 as though it were a Lender.

Appears in 1 contract

Samples: Term Loan Agreement (ITC Holdings Corp.)

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