Common use of Lender Assignments Clause in Contracts

Lender Assignments. Each Lender may assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Credit Agreement, the Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned), with the consent of the Agent (such consent not to be unreasonably withheld or delayed) and upon execution and delivery to the Agent, for its acceptance and recording in the Register, of an agreement in substantially the form of Exhibit F (an "Assignment And Assumption Agreement"), together with surrender of any Revolving Note or Revolving Notes subject to such assignment and a processing and recordation fee of $5,000, such assignment shall be effective and Annex I hereto shall be deemed to be modified accordingly. No such assignment shall be for less than $5,000,000 of the Commitments unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the Borrowers, the Agent or any other Lender.)

Appears in 2 contracts

Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Metal Management Inc)

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Lender Assignments. Each Lender may assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Credit Agreement, the Post-Petition Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned), with the consent of the Agent (such consent not to be unreasonably withheld or delayed) and upon execution and delivery to the Agent, for its acceptance and recording in the Register, of an agreement in substantially the form of Exhibit F EXHIBIT E (an "Assignment And Assumption AgreementASSIGNMENT AND ASSUMPTION AGREEMENT"), together with surrender of any Post-Petition Revolving Note or Post-Petition Revolving Notes subject to such assignment and a processing and recordation fee of $5,0002,500, such assignment shall be effective and Annex ANNEX I hereto shall be deemed to be modified accordingly. No such assignment shall be for less than $5,000,000 10,000,000 of the Commitments unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the Borrowers, the Agent or any other Lender.)

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

Lender Assignments. Each Lender may assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Credit Agreement, the Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned), with the consent of the Agent and, in the case of any such assignment to a bank or financial institution not disclosed to the Funds Administrator on or prior to the Closing Date, the consent of the Funds Administrator (such consent which consent, in the case of the Funds Administrator, shall not to be unreasonably withheld or delayed) ), and upon execution and delivery to the Agent, for its acceptance and recording in the Register, of an agreement in substantially the form of Exhibit F EXHIBIT G (an "Assignment And Assumption AgreementASSIGNMENT AND ASSUMPTION AGREEMENT"), together with surrender of any Revolving Note or Revolving Notes subject to such assignment and a processing and recordation fee of $5,0002,500, such assignment shall be effective and Annex ANNEX I hereto shall be deemed to be modified accordingly. No such assignment shall be for less than $5,000,000 10,000,000 of the Commitments unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the Borrowers, the Agent or any other Lender.)

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

Lender Assignments. Each Lender may assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Credit Agreement, the Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned), with the consent of the Agent (such consent not to be unreasonably withheld or delayed) and upon execution and delivery to the Agent, for its acceptance and recording in the Register, of an agreement in substantially the form of Exhibit EXHIBIT F (an "Assignment And Assumption AgreementASSIGNMENT AND ASSUMPTION AGREEMENT"), together with surrender of any Revolving Note or Revolving Notes subject to such assignment and a processing and recordation fee of $5,000, such assignment shall be effective and Annex ANNEX I hereto shall be deemed to be modified accordingly. No such assignment shall be for less than $5,000,000 10,000,000 of the Commitments unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the Borrowers, the Agent or any other Lender.)

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

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Lender Assignments. Each Lender may assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Credit Agreement, the Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned), with the consent of the Agent (such consent not to be unreasonably withheld or delayed) and upon execution and delivery to the Agent, for its acceptance and recording in the Register, of an agreement in substantially the form of Exhibit EXHIBIT F (an "Assignment And Assumption AgreementASSIGNMENT AND ASSUMPTION AGREEMENT"), together with surrender of any Revolving Note or Revolving Notes subject to such assignment and a processing and recordation fee of $5,000, such assignment shall be effective and Annex ANNEX I hereto shall be deemed to be modified accordingly. No such assignment of (i) Revolving Loans shall be for less than $5,000,000 10,000,000 of the Revolving Loan Commitments or (ii) Term Loans shall be for less than $1,000,000 of the Term Loan Commitment, in each case, unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the Borrowers, the Agent or any other Lender.)

Appears in 1 contract

Samples: Credit Agreement (Metal Management Inc)

Lender Assignments. Each Lender may assign to one or more banks or other financial institutions or other Persons all or a portion of its rights and obligations under this Credit Agreement, the Revolving Notes and the other Credit Documents (which shall be of a constant and not a varying percentage of the Loans and Commitment assigned)Documents, with the consent of the Agent and each of the Lenders and concurrent notice to the Borrower, but without the consent of the Borrower (such consent not except to the extent that the assignor may seek to be unreasonably withheld released from its Commitment or delayed) other obligations hereunder), and upon execution and delivery to the Agent, for its acceptance and recording in the RegisterRegister (as defined below), of an agreement in substantially the form of Exhibit F C (an "Assignment And and Assumption Agreement"), together with surrender of any Revolving Note or Revolving Notes subject to such assignment and the payment to the Agent of a processing and recordation fee of $5,000, such assignment shall be effective and Annex I hereto shall be deemed to be modified accordingly3,500. No such assignment shall be for less than $5,000,000 2,000,000 (or the entire amount of such Lender's Commitment, if less) of the Commitments unless it is to another Lender or is an assignment of all of such Lender's rights and obligations under this Credit Agreement. (This Section does not apply to branches and Affiliates of a Lender, it being understood that a Lender may make, carry or transfer Revolving Loans at or for the account of any of its branch offices or Affiliates without consent of the BorrowersBorrower, the Agent or any other Lender.) -36- (c)

Appears in 1 contract

Samples: Credit Agreement (Alterra Healthcare Corp)

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