Lender Transactions Sample Clauses
The 'Lender Transactions' clause defines and governs the types of financial transactions that a lender is permitted to engage in under the agreement. It typically outlines the scope of activities such as making loans, advancing funds, or participating in syndications, and may specify any restrictions or conditions that apply to these transactions. For example, it might clarify whether the lender can assign or transfer its interests to other parties. The core function of this clause is to ensure clarity and set boundaries around the lender's rights and obligations, thereby preventing misunderstandings or disputes regarding permissible lender activities.
Lender Transactions. (a) Each Current Lender hereby sells, transfers and assigns to the other Current Lenders and the New Lenders, and each other Current Lender and each New Lender hereby purchases, assumes and undertakes from such Current Lender, without recourse and without representation or warranty (except as provided in this Section 1) a percentage equal to the percentage set forth opposite such Lender's name on Schedule I hereto under the column "Pro Rata Shares Purchased on the First Amendment Effective Date" of (i) the Maximum Loan Amount of such Current Lender and (ii) all related rights, benefits, obligations, liabilities and indemnities of such Current Lender under and in connection with the Credit Agreement, as amended hereby, each Guaranty, the Mortgages, each other Security Document and the other Loan Documents and all Collateral and other security for the Obligations.
(b) Upon the effectiveness of this First Amendment and by its execution and delivery hereof, each of the New Lenders shall be a party to the Credit Agreement, as amended hereby, shall have all the rights and obligations of a "Lender" under the Credit Agreement, as amended hereby, and the other Loan Documents as if each were a signatory thereto, and shall agree, and does hereby agree, to be bound by the terms and conditions set forth in the Credit Agreement, as amended hereby, and the other Loan Documents to which the Lenders are a party, in each case, as if each were a signatory thereto.
(c) Each of the New Lenders hereby represents and warrants as follows:
(i) such New Lender has fully reviewed the terms of the Credit Agreement, this First Amendment and the other Loan Documents, copies of which, together with copies of the documents which were required to be delivered as a condition to the making of the initial Loans thereunder, have been delivered to such New Lender by the Administrative Agent, and such New Lender has independently and without reliance upon any other Lender or the Administrative Agent, and based on such information as such New Lender has deemed appropriate, made its own credit analysis and decision to enter into this First Amendment and (ii) if such New Lender is not incorporated, formed or organized under the laws of the United States of America or a state thereof, such New Lender has contemporaneously herewith delivered to the Administrative Agent and the Company such documents as are required by the Credit Agreement, including Section 10.10 of the Credit Agreement. Each of the...