Assignment by Lenders. a. Each Subordinated Debt Party acknowledges and agrees that each of the Senior Lenders shall have the right, subject to the terms of the Loan Documents, to assign, sell, participate or otherwise transfer all or any portion of its rights and benefits under the Loan Documents, and in connection therewith, this Agreement, or both, and any Lien without the consent of the Subordinated Debt Parties. This Agreement shall extend to and inure to the benefit of each of the Senior Lenders and their respective successors and assigns permitted pursuant to the terms of the Loan Documents.
Appears in 8 contracts
Samples: Subordination Agreement, Credit Agreement and Extension Agreement, Credit Agreement and Extension Agreement (Midcoast Energy Partners, L.P.)
