Common use of Section 3.4.1 Clause in Contracts

Section 3.4.1. Each Assignee shall execute and deliver to the Administrative Agent and the Borrower a counterpart joinder in the form of Exhibit M hereto and Assignor shall pay or caused to be paid to the Administrative Agent, solely for the account of the Administrative Agent, an assignment fee of $3,000. Upon the execution and delivery of such counterpart joinder, (A) such Assignee shall, on the date and to the extent provided in such counterpart joinder, become a "Lender" party to this Agreement for all purposes of this Agreement and shall have all the rights and obligations of a Lender with a Commitment as set forth in such counterpart joinder, and the transferor Lender shall, on the date and to the extent provided in such counterpart joinder, be released from its obligations hereunder to a corresponding extent (and, in the case of an assignment 49 55 covering all of the remaining portion of an assigning Lender's rights and obligations under this Agreement, such transferor shall cease to be a party hereto but shall continue to be entitled to any fees accrued for its account hereunder and not yet paid), (B) the Borrower shall issue to such Assignee a Revolving Credit Note in the amount of such Assignee's Commitment and a Competitive Bid Note in the amount equal to the Commitment Amount, each dated the Closing Date or such other date as may be specified by such Assignee and otherwise completed in substantially the form of Exhibit A-1 and Exhibit A-2, respectively; (C) the Administrative Agent shall distribute to the Borrower, the Lenders and such Assignee an amended Schedule 1 hereto reflecting such changes, and (D) this Agreement shall be deemed appropriately amended to reflect (i) the status of such Assignee as a party hereto and (ii) the status and rights of the Lenders and Administrative Agent hereunder.

Section 3.4.1. Each Assignee shall execute and deliver to the Administrative Agent and the Borrower a counterpart joinder in the form of Exhibit M hereto and Assignor shall pay or caused to be paid to the Administrative Agent, solely for the account of the Administrative Agent, an assignment fee of $3,000. Upon the execution and delivery of such counterpart joinder, (A) such Assignee shall, on the date and to the extent provided in such counterpart joinder, become a "Lender" party to this Agreement for all purposes of this Agreement and shall have all the rights and obligations of a Lender with a Commitment as set forth in such counterpart joinder, and the transferor Lender shall, on the date and to the extent provided in such counterpart joinder, be released from its obligations hereunder to a corresponding extent (and, in the case of an assignment 49 55 covering all of the remaining portion of an assigning Lender's rights and obligations under this Agreement, such transferor shall cease to be a party hereto but shall continue to be entitled to any fees accrued for its account hereunder and not yet paid), (B) the Borrower shall issue to such Assignee a Revolving Credit Note in the amount of such Assignee's Commitment and a Competitive Bid Note in the amount equal to the Commitment 50 143 Amount, each dated the Closing Date or such other date as may be specified by such Assignee and otherwise completed in substantially the form of Exhibit A-1 and Exhibit A-2, respectively; (C) the Administrative Agent shall distribute to the Borrower, the Lenders and such Assignee an amended Schedule 1 hereto reflecting such changes, and (D) this Agreement shall be deemed appropriately amended to reflect (i) the status of such Assignee as a party hereto and (ii) the status and rights of the Lenders and Administrative Agent hereunder.