Purchasing Lender Sample Clauses
The 'Purchasing Lender' clause defines the rights and obligations of a lender who acquires an interest in a loan from another lender under a loan agreement. Typically, this clause outlines the process by which a lender can purchase all or part of another lender's share, including any required consents, notice procedures, and the effective date of the transfer. For example, it may specify that the purchasing lender assumes all rights to receive payments and is bound by the same obligations as the original lender. The core function of this clause is to facilitate the transferability of loan interests among lenders, thereby providing flexibility and liquidity within syndicated lending arrangements.
Purchasing Lender. (a) Each Lender, in the ordinary course of its commercial banking business and in accordance with applicable law, at any time may sell, assign and delegate to any Affiliate of such Lender and/or, with the consent of the Agent and ERC US (which in each case shall not be unreasonably withheld or delayed and shall not be required of ERC US after the occurrence during the continuance of an Event of Default), to one or more additional banks or financial institutions (each, a "Purchasing Lender") all or any part (but not less than $5,000,000 in aggregate of such Lender's rights and obligations under this Agreement, the Notes and the other Loan Documents (provided, that any such sale, assignment and delegation shall be made with respect to each Loan and the Commitment and Term Loan Commitment of such Lender hereunder) pursuant to an agreement ("Assignment and Acceptance") executed by the Purchasing Lender and such Lender. Such Assignment and Acceptance shall specify an effective date which is not less than five Business Days after the date of execution thereof. Upon such execution, delivery, and acceptance, from and after the effective date determined pursuant to such Assignment and Acceptance and payment by the assigning Lender of a $3,000 administrative fee to the Agent for its own account with respect to each Purchasing Lender party to such Assignment and Acceptance, (A) the Purchasing Lender thereunder shall be a party hereto and, to the extent of the Commitments assigned and Loans sold pursuant to such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with a Commitment as set forth therein, and (B) the assigning Lender thereunder shall, to the extent of the Commitments assigned pursuant to such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender's rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto). Such Assignment and Acceptance shall be deemed to amend this Agreement to the extent, and only to the extent, necessary to reflect the addition of such Purchasing Lender as a Lender and the resulting adjustment of Commitments arising from the purchase by such Purchasing Lender of all or a portion of the rights and obligations of such assigning Lender under this Agreement and the Notes. On or prior to the effective date determined pursuant to such ...
Purchasing Lender. 71 Section 9.1
Purchasing Lender. 62 Section 9.2
Purchasing Lender. TRANSFEROR LENDER:
Purchasing Lender. (other than a Purchasing Lender that is a Defaulting Lender or that would be a Defaulting Lender upon becoming a Lender hereunder) all or part of its rights and obligations under this Agreement pursuant to a duly executed Assignment and Assumption; provided that (i) if such sale is not to one or more existing Lenders or an Affiliate thereof, such sale shall be in a minimum amount of $10,000,000 unless each of the Administrative Agent, and for so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents and (ii) the Commitment retained (if any) by such transferor Lender after such sale shall be at least $10,000,000 unless each of the Administrative Agent, and for so long as no Event of Default has occurred and is continuing, the Borrower, otherwise consents. Notwithstanding the foregoing, any Lender may sell to one or more Lenders or Purchasing Lenders designated by the Borrower all of its Commitment and/or all of its rights and obligations under this Agreement pursuant to an Assignment and Assumption as described in the preceding sentence in connection with a purchase thereof effected pursuant to Section 2.18. Upon (A) the execution of such Assignment and Assumption, (B) delivery of an executed copy thereof to the Administrative Agent, (C) recordation of such transfer in the Register and (D) payment by such Purchasing Lender to the Administrative Agent of a registration and processing fee of $4,000 if such Purchasing Lender is not a Lender prior to the execution of such Assignment and Assumption and $2,000 otherwise (provided that the Administrative Agent in its sole discretion may elect to waive such fee) and (E) payment to the Administrative Agent of any additional amounts required by Section 9.6(e), from and after
Purchasing Lender. 66 Section 9.2 Disclosure of Information...............................................................68 Section 9.3 Pledges to Federal Reserve Bank.........................................................68
Purchasing Lender. 64 Section 9.2 Disclosure of Information . . . . . . . . . . . . . . . 66 Section 9.3 Pledges to Federal Reserve Bank . . . . . . . . . . . . 66
Purchasing Lender. 67 Section 9.2 Participations...........................................69 Section 9.3