Assignment Losses Sample Clauses
The "Assignment Losses" clause defines how losses or liabilities are handled when contractual rights or obligations are transferred from one party to another. Typically, this clause specifies whether the original party remains responsible for any losses arising from the assignment, or if the assignee assumes full responsibility. For example, if a company assigns its contract to a third party, the clause may clarify who bears the risk if the assignee fails to perform. Its core function is to allocate risk and responsibility for losses, ensuring all parties understand their potential liabilities in the event of an assignment.
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Assignment Losses. If any assignment of a Eurodollar Loan is made other than on the last day of the Interest Period for such Loan as a result of a request by the Borrower pursuant to clause (d) of Section 2.14, the Borrower shall, within ten (10) Business Days of any written demand sent by the Administrative Agent on behalf of the Lender that is the assignee thereof to the Borrower, pay to the Administrative Agent for the benefit of such Lender any amounts determined by such Lender to be required to compensate such Lender for any additional losses, out-of-pocket costs, or expenses (other than any anticipated lost profits) actually incurred by such Lender as a result of such assignment, including any such loss, cost, or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund or maintain such Loan.
Assignment Losses. If any assignment of any Eurodollar Advance is made other than on the last day of the Interest Period for such Advance as a result of a request by the Borrower pursuant to clause (b) of Section 2.16, the Borrower shall, within three (3) Business Days of any written demand sent by the Administrative Agent on behalf of the Lender that is the assignee thereof to the Borrower, pay to the Administrative Agent for the benefit of such Lender any amounts determined by such Lender to be required to compensate such Lender for any additional losses, out-of-pocket costs, or expenses (other than any anticipated lost profits) which it may reasonably incur as a result of such assignment, including, without limitation, any such loss, cost, or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund or maintain such Advance.