Common use of ASSIGNMENTS BY Clause in Contracts

ASSIGNMENTS BY. BANKS If any Bank assigns all or any of its rights and benefits under the Finance Documents in accordance with Clause 34.3 (Assignments and Transfers by Banks), then, unless and until the assignee has delivered a notice to the Agent confirming in favour of the other Finance Parties that it shall be under the same obligations towards each of them as it would have been under if it had been an original party hereto as a Bank (whereupon such assignee shall become a party hereto as a "Bank"), the Agent, the Arrangers, the other Banks and the Permitted Facilities Provider shall not be obliged to recognise such assignee as having the rights against each of them which it would have had if it had been such a party hereto. - 113 - 117

ASSIGNMENTS BY. BANKS If any Bank assigns all or any of its rights and benefits under the Finance Documents in accordance with Clause 34.3 (Assignments and Transfers by BanksASSIGNMENTS AND TRANSFERS BY BANKS), then, unless and until the assignee has delivered a notice to the Facility Agent confirming in favour of the Facility Agent, the Arrangers and the other Finance Parties Banks that it shall be under the same obligations towards each of them as it would have been under if it had been an original party hereto as a Bank (whereupon such assignee shall become a party hereto as a "Bank"), the Facility Agent, the Arrangers, Arrangers and the other Banks and the Permitted Facilities Provider shall not be obliged to recognise such assignee as having the rights against each of them which it would have had if it had been such a party hereto. - 113 - 117.