Common use of Participations Generally Clause in Contracts

Participations Generally. The Lender may, without the consent of the Borrower sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the Lender’s rights and obligations under this Agreement (including all or a portion of the Loans owing to it); provided that (A) the Lender’s obligations under this Agreement shall remain unchanged, (B) the Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower and the Lender shall continue to deal solely and directly in connection with the Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the Lender sells such a participation shall provide that the Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 2.12 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender.

Appears in 2 contracts

Samples: Assignment and Assumption (Reliant Energy Inc), Working Capital Facility (Reliant Energy Inc)

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Participations Generally. The Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) the such Lender’s obligations under this Agreement shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrower, the Administrative Agent and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to third sentence of Section 9.02(b) 11.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.10 and 2.11 and 2.12 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 11.8 as though it were a Lender.

Appears in 1 contract

Samples: Term Loan Agreement (ITC Holdings Corp.)

Participations Generally. The Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) the such Lender’s obligations under this Agreement shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrower, the Administrative Agent and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to second sentence of Section 9.02(b) 12.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.10 and 2.11 and 2.12 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Bridge Loan Agreement (ITC Holdings Corp.)

Participations Generally. The Lender may, without the consent of the Borrower Borrower, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) the Lender’s obligations under this Agreement shall remain unchanged, (B) the Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower and the Lender shall continue to deal solely and directly with the Lender in connection with the Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the Lender sells such a participation shall provide that the Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to third sentence of Section 9.02(b) 9.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 2.12 Section 2.7 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 9.8 as though it were a Lender.

Appears in 1 contract

Samples: Term Loan Agreement (ITC Holdings Corp.)

Participations Generally. The Any Lender may, without the consent of the Borrower Company, the Administrative Agent, the Swingline Lender or any Issuing Lender, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the such Lender’s rights and obligations under this Agreement (including all or a portion of the Loans owing to Commitments, Loans, Synthetic LC Funding Amount and Synthetic LC Credit-Linked Deposit held by it); provided that (A) the such Lender’s obligations under this Agreement shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Company, the Administrative Agent, the Issuing Lenders and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) 11.02(b), or the first proviso to Section 11.02(c), that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower Company agrees that each Participant shall be entitled to the benefits of Sections 2.102.14, 2.11 2.15, 3.14, 3.15, 11.03 and 2.12 11.04, as applicable, to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 11.12 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.16(d) and 3.16(c) as though it were a Lender.

Appears in 1 contract

Samples: Security Agreement (Foster Wheeler LTD)

Participations Generally. The Any Lender may, without the consent of the Borrower or the Mezzanine Agent, sell participations to one or more banks or other entities (a “Participant”"PARTICIPANT") in all or a portion of the such Lender’s 's rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided PROVIDED that (A) the such Lender’s 's obligations under this Agreement shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrower, the Mezzanine Agent, and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s 's rights and obligations under this Agreement. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided PROVIDED that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.12, 2.11 2.13 and 2.12 2.14 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Chartermac)

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Participations Generally. The Any Lender may, without the consent of the Borrower Borrowers, the Administrative Agent, any Issuing Lender or the Swingline Lender, sell participations to one or more banks or other entities (a "Participant") in all or a portion of the such Lender’s 's rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment and the Loans owing to it); provided that (A) the such Lender’s 's obligations under this Agreement and the other Loan Documents shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrowers, the Administrative Agent, the Issuing Lenders and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s 's rights and obligations under this AgreementAgreement and the other Loan Documents. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this AgreementAgreement or any other Loan Document; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b10.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.102.14, 2.11 2.15 and 2.12 2.16 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 10.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.17(c) as though it were a Lender.

Appears in 1 contract

Samples: Credit Agreement (1 800 Flowers Com Inc)

Participations Generally. The Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the such Lender’s rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitment and the Revolving Credit Loans owing to it); provided that (A) the such Lender’s obligations under this Agreement shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrower, the Administrative Agent and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to third sentence of Section 9.02(b) 12.1 that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 2.12 3.5 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 12.8 as though it were a Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (ITC Holdings Corp.)

Participations Generally. The Any Lender may, without the consent of the Borrower Borrower, Agent, Issuing Bank sell participations to one or more banks or other entities (a “Participant”) in all or a portion of the such Lender’s rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Term Loan Pro Rata Share and the Loans owing to it); provided that (A) the such Lender’s obligations under this Agreement and the other Loan Documents shall remain unchanged, (B) the such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower Borrower, Agent, Issuing Bank and the Lender other Lenders shall continue to deal solely and directly with such Lender in connection with the such Lender’s rights and obligations under this AgreementAgreement and the other Loan Documents. Any agreement or instrument pursuant to which the a Lender sells such a participation shall provide that the such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this AgreementAgreement or any other Loan Document; provided that such agreement or instrument may provide that the such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) 10.11 that affects such Participant. Subject to paragraph subclause (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.102.14, 2.11 2.15 and 2.12 2.16 (subject to the requirements and limitations of such Sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (COHEN & Co INC.)

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