Sub-participation; subrogation assignment Clause Samples

Sub-participation; subrogation assignment. A Lender may sub-participate or include in a securitisation or similar transaction all or any part of its rights and/or obligations under or in connection with the Finance Documents (other than the Master Agreement) without the Borrower's prior consent and without serving a notice thereon and the Lenders may assign without the Borrower's prior consent and without serving a notice thereon, in any manner and terms agreed by the Majority Lenders, the Agent and the Security Trustee, all or any part of those rights to an insurer or surety who has become subrogated to them. The Borrower shall, and shall procure that each Security Party shall, do everything requested by the Agent or any Lender to assist and co-operate with that Lender to achieve a successful securitisation or similar transaction.

Sub-participation; subrogation assignment. The Issuer may sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents without the consent of, or any notice to, the Obligors; and the Issuer may assign, in any manner and terms agreed by it, all or any part of those rights to an insurer or surety who has become subrogated to them.

Sub-participation; subrogation assignment. A Lender may sub-participate part of its rights and/or obligations under or in connection with the Finance Documents provided however that the aggregate of such sub-participations at any time does not exceed 50 per cent. of the total rights and/or obligations of the Lenders under or in connection with the Finance Documents, without the consent of, or any notice to, any Borrower, any Security Party, the Agent and the Security Trustee; and the Lenders may assign, in any manner and terms agreed by all the Lenders, the Agent and the Security Trustee, all or any part of those rights to an insurer or surety who has become subrogated to them.

Sub-participation; subrogation assignment. The Lender may, with the prior consent of the Borrower, such consent not to be unreasonably withheld, sub-participate all or any part of its rights and/or obligations under, or in connection with, the Finance Documents; and the Lender may assign, in any manner and on terms agreed by it, all or any part of those rights to an insurer or surety which has become subrogated to them.

Sub-participation; subrogation assignment. A Lender may, sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents (including, for the avoidance of doubt, to a Fund); and the Lenders may assign, in any manner and terms agreed by the Majority Lenders, the Facility Agent and the Security Agent, all or any part of those rights to an insurer or surety who has become subrogated to them. A sub-participation or assignment pursuant to this Clause 26.21 (Sub-participation; subrogation assignment) shall be effected without the consent of the Borrowers other than in the case of a transfer to a Fund, in which case it shall be effected with the prior written consent of the Borrowers acting at its discretion, Provided that such consent shall not be required in respect of any sub-participation or assignment pursuant to this Clause 26.21 (Sub-participation; subrogation assignment) which takes place at any time following the lapse of a 30 Business Days’ period from the date of a notice of the Facility Agent to the Borrowers pursuant to sub-paragraph (a)(ii) of Clause 19.2(Actions following an Event of Default).

Sub-participation; subrogation assignment. (a) A Lender may sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents without the consent of, or any notice to, any Security Party, the Agent or the Security Trustee and (where an Event of Default has occurred and is continuing) any Borrower. Where no Event of Default has occurred and is continuing the Borrowers’ consent to such sub-participation shall be required, such consent not to be unreasonably withheld or delayed. (b) The Lenders may assign, in any manner and terms agreed by the Majority Lenders, the Agent and the Security Trustee, all or any part of those rights to an insurer or surety who has become subrogated to them.

Sub-participation; subrogation assignment. (a) A Lender may sub-participate or include in a securitisation or similar transaction all or any part of its rights and/or obligations under or in connection with the Finance Documents: (i) in circumstances where the Lender may, without responsibility to the sub-participant, exercise or refrain from exercising any or all of its rights, powers and discretions arising under or in connection with the Finance Documents, without the Borrowers' prior consent but after giving fifteen (15) days' notice to the Borrowers and without serving a notice thereon; and (ii) in all other cases, subject to the same conditions set out in Clause 26.2 (Transfer by a Lender). (b) The Lenders may assign without the Borrowers' prior consent but after giving fifteen (15) days' notice to the Borrowers and without serving a notice thereon all or any part of the rights referred to in the preceding sentence to an insurer or surety who has become subrogated to them.

Sub-participation; subrogation assignment. A Lender may sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents without the consent of, or any notice to, the Borrower, any other Security Party, the Agent or the Security Trustee; and the Lenders may assign, in any manner and terms agreed by the Majority Lenders, the Agent and the Security Trustee, all or any part of those rights to an insurer or surety who has become subrogated to them; provided that a Lender shall not sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents directly to an Excluded Entity without the consent of the Borrower.

Sub-participation; subrogation assignment. The Lender may sub-participate all or any part of its rights and/or obligations under or in connection with the Finance Documents without the consent of, or any notice to, the Borrower; and the Lender may assign, in any manner and terms agreed by it, all or any part of those rights to an insurer or surety who has become subrogated to them Provided that any sub-participation or assignment of any rights and/or obligations under or in connection with the Pledge and Security Agreement to a company or financial institution shall be subject to the prior written consent of the Borrower."; (p) the definition of, and references throughout to, each Finance Documents shall be construed as if the same referred to that Finance Document as amended and supplemented by this Third Supplemental Agreement; and (q) by construing references throughout to "this Agreement", "hereunder" and other like expressions as if the same referred to the Loan Agreement as amended and supplemented by this Third Supplemental Agreement.