Common use of Transfers and Participations Clause in Contracts

Transfers and Participations. Any Lender may, at any time, sell, transfer, assign or grant participations in the Obligations or any portion thereof; and such Lender may forward to each transferee and each prospective transferee all documents and information relating to such obligations, whether furnished by the Borrower or otherwise obtained, as such Lender determines necessary or desirable. The Borrower agrees that each transferee, regardless of the nature of any transfer to it, may exercise all rights (including, without limitation, rights of set-off) with respect to the Obligations held by it as fully as if such transferee were the direct holder thereof, subject to any agreements between such transferee and the transferor to such transferee. Each Lender agrees that each such transferee shall assume all of the obligations of the assigning Lender pursuant to the Credit Agreement Documents.

Appears in 2 contracts

Samples: Credit Agreement (Starboard Resources, Inc.), Credit Agreement (Starboard Resources, Inc.)

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Transfers and Participations. Any The Lender may, at any time, sell, transfer, assign or grant participations in the Obligations or any portion thereof; and such the Lender may forward to each transferee Transferee and each prospective transferee Transferee all documents and information relating to such obligations, whether furnished by the Borrower Borrowers or otherwise obtained, as such the Lender determines necessary or desirable. The Borrower agrees Borrowers agree that each transfereeTransferee, regardless of the nature of any transfer to it, may exercise all rights (including, without limitation, rights of set-off) with respect to the Obligations held by it as fully as if such transferee Transferee were the direct holder thereof, subject to any agreements between such transferee Transferee and the transferor to such transfereeTransferee. Each The Lender agrees that each such transferee Transferee shall assume all of the obligations of the assigning Lender pursuant to the Credit Agreement Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Pontotoc Production Inc), Credit Agreement (GMX Resources Inc)

Transfers and Participations. Any The Lender may, at any time, sell, transfer, assign or grant participations in the Obligations or any portion thereof; and such the Lender may forward to each transferee Transferee and each prospective transferee Transferee all documents and information relating to such obligations, whether furnished by the Borrower or otherwise obtained, as such the Lender determines necessary or desirable. The Borrower agrees that each transfereeTransferee, regardless of the nature of any transfer to it, may exercise all rights (including, without limitation, rights of set-off) with respect to the Obligations held by it as fully as if such transferee Transferee were the direct holder thereof, subject to any agreements between such transferee Transferee and the transferor to such transfereeTransferee. Each The Lender agrees that each such transferee Transferee shall assume all of the obligations of the assigning Lender pursuant to the Credit Agreement Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Fortune Natural Resources Corp)

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Transfers and Participations. Any The Lender may, at any time, sell, ---------------------------- transfer, assign or grant participations in the Obligations or any portion thereof; and such the Lender may forward to each transferee Transferee and each prospective transferee Transferee all documents and information relating to such obligations, whether furnished by the Borrower or otherwise obtained, as such the Lender determines necessary or desirable. The Borrower agrees that each transfereeTransferee, regardless of the nature of any transfer to it, may exercise all rights (including, without limitation, rights of set-off) with respect to the Obligations held by it as fully as if such transferee Transferee were the direct holder thereof, subject to any agreements between such transferee Transferee and the transferor to such transfereeTransferee. Each The Lender agrees that each such transferee Transferee shall assume all of the obligations of the assigning Lender pursuant to the Credit Agreement Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Canaan Energy Corp)

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