Common use of Participations by Lender Clause in Contracts

Participations by Lender. Lender may at any time sell to one or more financial institutions participating interests in any of Lender’s Obligations or Commitment; provided, however, that (a) no such participation shall relieve Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers shall continue to deal solely and directly with Lender in connection with Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 4 contracts

Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)

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Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers the Borrower shall continue to deal solely and directly with the Lender in connection with the Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 2 contracts

Samples: Financing Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sensytech Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers the Borrower shall continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 2 contracts

Samples: Financing and Security Agreement (ARGON ST, Inc.), Financing and Security Agreement (Healthextras Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or Revolving Credit Commitment; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) the Borrowers shall continue to deal solely and directly with the Lender in connection with the Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 2 contracts

Samples: Financing and Security Agreement (Spacehab Inc \Wa\), Financing and Security Agreement (Spacehab Inc \Wa\)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) the Borrowers shall continue to deal solely and directly with the Lender in connection with the Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 2 contracts

Samples: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Argan Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) the Borrowers shall continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 2 contracts

Samples: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Versar Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions Acceptable Financial Institutions participating interests in any of the Lender’s Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers the Borrower shall continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Healthextras Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers the Borrower shall continue to deal solely and directly with such Lender in connection with the Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant , and (d) unless there shall have no rights vis-à-vis Borrowers under this Agreementexist an Event of Default at the time of sale, the purchaser shall be a Financial Institution or an affiliate of a Financial Institution.

Appears in 1 contract

Samples: Financing and Security Agreement (Glasstech Inc)

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Participations by Lender. Lender may at any time sell to one or more financial institutions participating interests in any of Lender’s Obligations or Commitment; provided, however, that (a) no such participation shall relieve Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers Borrower shall continue to deal solely and directly with Lender in connection with Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Senior Living Inc)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under 47 49 any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) the Borrowers shall continue to deal solely and directly with Lender th eLender in connection with the Lender’s 's rights and obligations under this Agreement AGreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Polk Audio Inc)

Participations by Lender. Lender may at any time sell to one or more financial institutions participating interests in any of Lender’s 's Obligations or Commitment; provided, however, that (a) no such participation shall relieve Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers Borrower shall continue to deal solely and directly with Lender in connection with Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-àa-vis Borrowers the Borrower under this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Gp Strategies Corp)

Participations by Lender. The Lender may at any time sell to one or more financial institutions participating interests in any of the Lender’s 's Obligations or Commitment; provided, however, that (a) no such participation shall relieve the Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) the Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers the Borrower shall continue to deal solely and directly with the Lender in connection with the Lender’s 's rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 1 contract

Samples: Financing Agreement (Trex Co Inc)

Participations by Lender. Lender may at any time sell to one or more financial institutions participating interests in any of Lender’s Obligations or CommitmentCommitments; provided, however, that (a) no such participation shall relieve Lender from its obligations under this Agreement or under any of the other Financing Documents to which it is a party, (b) Lender shall remain solely responsible for the performance of its obligations under this Agreement and under all of the other Financing Documents to which it is a party, and (c) Borrowers Borrower shall continue to deal solely and directly with Lender in connection with Lender’s rights and obligations under this Agreement and the other Financing Documents. A participant shall have no rights vis-à-vis Borrowers under this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Liquidity Services Inc)

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