Common use of Benefit of Certain Provisions Clause in Contracts

Benefit of Certain Provisions. The Borrower agrees that each Participant shall be entitled to the benefits of Article III to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 12.3.1. A Participant shall not be entitled to receive any greater payment under Article III than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 3.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.5 as though it were a Lender.

Appears in 2 contracts

Samples: Assignment Agreement (WGL Holdings Inc), Assignment Agreement (Washington Gas Light Co)

AutoNDA by SimpleDocs

Benefit of Certain Provisions. The Borrower agrees that each Participant shall be entitled to the benefits of Article III to the same extent as if it were a Lender and had 50 acquired its interest by assignment pursuant to Section 12.3.1. A Participant shall not be entitled to receive any greater payment under Article III than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 3.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.5 as though it were a Lender.

Appears in 1 contract

Samples: Assignment Agreement (Washington Gas Light Co)

AutoNDA by SimpleDocs

Benefit of Certain Provisions. The Borrower agrees that each Participant shall be entitled to the benefits of Article III to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 12.3.1. A Participant shall not be entitled to receive any greater payment under Article III than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Non-U.S. Lender if it were a Lender shall not be entitled to the benefits of Section 3.5 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.5 as though it were a Lender.. 52

Appears in 1 contract

Samples: Assignment Agreement (WGL Holdings Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.