Common use of Assignability as Collateral Clause in Contracts

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it to the Federal Reserve Bank and the U.S. Treasury as collateral security pursuant to Regulation A of the Federal Reserve Board and any operating Circular issued by such Federal Reserve Bank or to any central bank as collateral security in accordance with applicable law; provided that any payment in respect of such assigned Loans or Notes made by any Co-Borrower to or for the account of the assigning or pledging Lender in accordance with the terms of this Agreement shall satisfy such Co-Borrower’s obligations hereunder in respect of such assigned Loans or Notes to the extent of such payment; provided, further, that no such assignment shall release the assigning Lender from its obligations hereunder and in no event shall the Federal Reserve Bank or any central bank be considered a “Lender” hereunder.

Assignability as Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Document to the contrary, any Lender may assign all or any portion of the Loans or Notes held by it to the Federal Reserve Bank and the U.S. United States Treasury as collateral security pursuant to Regulation A of the Federal Reserve Board and any operating Circular circular issued by such Federal Reserve Bank or to any central bank as collateral security in accordance with applicable lawlaw or other central bank having jurisdiction over such Lender; provided that any payment in respect of such assigned Loans or Notes made by any Co-Borrower to or for the account of the assigning or pledging Lender in accordance with the terms of this Agreement shall satisfy such Co-Borrower’s obligations hereunder in respect of such assigned Loans or Notes to the extent of such payment; provided, further, that no such assignment shall release the assigning Lender from its obligations hereunder and in no event shall the Federal Reserve Bank or any central bank be considered a “Lender” hereunder.