Common use of Borrower Assignment Clause in Contracts

Borrower Assignment. Pursuant to and in accordance with Section 10.06(g) of the Credit Agreement, for an agreed consideration, the Initial Borrower hereby irrevocably assigns to the New Borrower, and the New Borrower hereby irrevocably assumes from the Initial Borrower, as of the Effective Date all of the debts, liabilities, obligations, covenants and duties of the Initial Borrower arising under the Loan Documents or otherwise with respect to any Advance or Letter of Credit. The New Borrower hereby becomes the “Borrower” for all purposes under the Credit Agreement and the other Loan Documents.