Common use of Permitted Participants; Effect Clause in Contracts

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Revolving Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s Lend▇▇’▇ ▇▇▇s ights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may Bank may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than Persons that are not, and that are not Affiliates of a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for in the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) home building business (“"Participants”") participating interests in any Loan owing to such LenderBank, any Note held by such LenderBank, any Term Loan Commitment of such Lender Bank or any other interest of such Lender Bank under the Loan DocumentsDocuments in an amount of not more than one half (1/2) of its Commitment, so long as immediately following such sale the selling Bank shall retain at least $10,000,000.00 of its Commitment (subject to reduction by Borrower pursuant to Section 2.5 (d)). In the event of any such sale by a Lender Bank of participating interests to a Participant, such Lender’s Bank's obligations under the Loan Documents shall remain unchanged, such Lender Bank shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender Bank shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had Bank has not sold such participating interests, and the Borrower Borrower, Agent and the Administrative Agent Issuing Bank shall continue to deal solely and directly with such Lender Bank in connection with such Lender’s ▇▇▇▇▇s Bank's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with Applicable Law, at any time sell to one or more banks or other entities financial institutions (other than each a natural Person, or "Participant") a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or participating interest in any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan Obligations owing to such Lender, any Note held by such Lender, any Term Loan Revolver Commitment of such Lender or any other interest of such Lender under any of the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement and any of the Notes shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents. If a Lender sells a participation to a Person other than an Affiliate of such Lender, then such Lender shall give prompt written notice thereof to Borrower and the other Lenders.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”"PARTICIPANTS") participating interests in any Loan owing to such Lender, any Note promissory note issued hereunder held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof such note for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with Applicable Law, at any time sell to one or more banks or other entities financial institutions (other than each a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or "Participant") participating interest in any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan Obligations owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under any of the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely - 84 - 90 responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower Borrowers under this Agreement and any of the Notes shall be determined as if such Lender had not sold such participating interests, and the Borrower Borrowers and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents. If a Lender sells a participation to a Person other than an Affiliate of such Lender, then such Lender shall give prompt written notice thereof to Borrowers and the other Lenders.

Permitted Participants; Effect. Any Lender may may, in the ------------------------------ ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“"Participants”") participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Lender's Percentage of Facility Letters of Credit, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents, in each case, with no consent of or notice to any party. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s ▇’s rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents, in each case, with no consent of or notice to any party. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s Lend▇▇’▇ ▇▇▇s ights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ------------------------------ ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“"Participants”") participating ------------ interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Lender's interest in any Facility Letter of Credit Obligation, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower each Loan Party and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Revolving Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“"Participants”") participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan the Commitment of such Lender Lender, or any other interest of such Lender under the Loan Documents; provided, however, that, except in the case (i) of a sale of a participation in a Competitive Bid Loan or (ii) a sale of a Participation to any other Lender, such participations shall require the consent of the Company and shall each be in a minimum amount of $5,000,000. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower Obligors under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower Obligors and the Administrative Agent Agents shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with Applicable Law, at any time sell to one or more banks or other entities financial institutions (other than each a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or “Participant”) participating interest in any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan Obligations owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under any of the DIP Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the DIP Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the DIP Loan Documents, all amounts payable by the Borrower Credit Parties under this Agreement and any of the Notes shall be determined as if such Lender had not sold such participating interests, and the Borrower Credit Parties and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s rights and obligations under the DIP Loan Documents. If a Lender sells a participation to a Person other than an Affiliate of such Lender, then such Lender shall give prompt written notice thereof to Borrowers and the other Lenders.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than Persons that are not, and that are not Affiliates of a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for in the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) home building business (“"Participants”") participating interests in any Loan owing to such LenderLender (which may include, in the case of the 110 Swing Line Bank, any Swing Line Loan), any Note held by such Lender, any Term Loan Commitment of such Lender (or in the case of the Swing Line Bank, any Swing Line Commitment) or any other interest of such Lender under the Loan DocumentsDocuments in an amount of not less than $5,000,000. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower Borrower, the Agent and the Administrative Agent Issuing Bank shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in ------------------------------ the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries"Participants") (“Participants”) ------------ participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest interest, right and/or obligation of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents, in each case, with no consent of or notice to any party. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s and obligations under the Loan Documents.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with Applicable Law, at any time sell to one or more banks or other entities financial institutions (other than each a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or "Participant") participating interest in any of the Borrower’s Affiliates or Subsidiaries) (“Participants”) participating interests in any Loan Obligations owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under any of the Loan DocumentsFinancing Agreements. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents Financing Agreements shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan DocumentsFinancing Agreements, all amounts payable by the Borrower Borrowers under this Agreement and any of the Notes shall be determined as if such Lender had not sold such participating interests, and the Borrower Borrowers and the Administrative Agent Agents shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan DocumentsFinancing Agreements. If a Lender sells a participation to a Person other than an Affiliate of such Lender, then such Lender shall give prompt written notice thereof to Borrowers, the Agents and the other Lenders.

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks banks, financial institutions, pension funds, or any other funds or entities (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (“"Participants”") participating interests in any Loan owing to such Lender, any Note held by such Lender, any Term Loan Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.. Any Lender selling such participation interests in the Loan to any Participant shall remain the party entitled to enforce Borrower's obligations arising under Article 4 and Borrower shall have no liability whatsoever to any Participants under such Article 4. ncbcrex.htm 14534489\V-10

Permitted Participants; Effect. Any Lender may may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities (other than Persons that are not, and that are not Affiliates of a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for in the primary benefit of, a natural Person, any Defaulting Lender, or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) home building business (“"Participants”") participating interests in any Loan owing to such LenderLender (which may include, in the case of the Swing Line Bank, any Swing Line Loan), any Note held by such Lender, any Term Loan Commitment of such Lender (or in the case of the Swing Line Bank, any Swing Line Commitment) or any other interest of such Lender under the Loan DocumentsDocuments in an amount of not less than $5,000,000. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s 's obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall 103 remain the owner of its Loans and the holder of any such Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrower under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrower Borrower, the Agent and the Administrative Agent Issuing Bank shall continue to deal solely and directly with such Lender in connection with such Lender’s ▇▇▇▇▇s 's rights and obligations under the Loan Documents.