Assignment by Withdrawing Lender Sample Clauses
The 'Assignment by Withdrawing Lender' clause allows a lender who is exiting a loan agreement to transfer its rights and obligations to another party. In practice, this means that if a lender decides to withdraw from the lending arrangement, it can assign its share of the loan, including any outstanding principal and interest, to a new lender, subject to any required consents or conditions outlined in the agreement. This clause facilitates the smooth transition of lender interests, ensuring continuity for the borrower and the remaining lenders, and addresses the practical need for flexibility in syndicated or multi-lender financing arrangements.
Assignment by Withdrawing Lender. A Withdrawing Lender shall be obliged, at the request of the Borrower and subject to the Withdrawing Lender receiving payment in full of all amounts owing to it under this Agreement concurrently with the effectiveness of an assignment, to assign, without recourse or warranty and by an Assignment and Acceptance, all of its rights and obligations hereunder to any Replacement Lender nominated by the Borrower and willing to accept such assignment; provided that such assignee satisfies all the requirements of this Agreement and such assignment is consented to by the Administrative Agent, which consent shall not be withheld or delayed unreasonably.
Assignment by Withdrawing Lender. A Withdrawing Lender shall be obliged, at the request of the Borrower or the Administrative Agent (and subject to the Withdrawing Lender receiving payment in full of an amount equal to the sum of (1) the principal of, and all accrued interest on, all outstanding Loans of the Withdrawing Lender, plus (2) all accrued, but theretofore unpaid, fees owing to the Withdrawing Lender pursuant to Section 2.4, plus (3) all other amounts due and owing to the Withdrawing Lender under, or with respect to, this Agreement and the other Credit Documents, or such other amount as to which the Withdrawing Lender shall agree), as of the Scheduled Commitment Termination Date, to assign, without recourse or warranty (other than a warranty as to unencumbered ownership of the Loans so being assigned) all of its rights and obligations (including its Commitment) hereunder to another financial institution chosen by the Borrower; provided, that such assignment shall be made pursuant to and satisfy all the requirements of Section 9.4(b) (it being understood that no Withdrawing Lender shall be required to pay the assignment fee referred to therein), and such assignment is otherwise consented to by the Administrative Agent and the Borrower. Any such financial institution shall, pursuant to the terms of Section 9.4(b), thereafter be a Lender for all purposes of this Agreement, and the Commitment and Loans so assigned shall be extended pursuant to Section 2.3.1.
Assignment by Withdrawing Lender. A Withdrawing Lender shall be obliged, at the request of ▇▇▇▇▇▇▇ and subject to the Withdrawing Lender receiving payment in full of all amounts owing to it under this Agreement concurrently with the effectiveness of an assignment, to assign, without recourse or warranty and pursuant to the terms of Section 11.11.1 hereof, all of its rights and obligations hereunder to any Replacement Lender nominated by the Borrower and willing to accept such assignment provided that if the Replacement Lender or the Withdrawing Lender shall suffer any loss as a result of such assignment during an Interest Period, ▇▇▇▇▇▇▇ shall reimburse such Lender therefor. The amount of any such loss shall be certified to ▇▇▇▇▇▇▇ by such Lender, which certificate shall be conclusive absent manifest error.