Example ContractsClausesassignments to borrower affiliatesVariants
Remove:

Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least (unless otherwise agreed by Agent in its discretion); and # the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.

Permitted Assignments AAssignments. Any Lender may at any time assign to an Eligible Assigneeone or more banks or other entities other than Ineligible Institutions (“Purchasers”) all or any part of its rights and obligations under the Loan Documents,Documents. Such assignment shall be substantially in the form of [Exhibit G] or in such other form as long asmay be agreed to by the parties thereto. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate of a Lender or an Approved Fund shall either be in an amount equal to the entire applicable Commitment and Loans of the assigning Lender or (unless each of the Borrowers and the Agent otherwise consents) be in an aggregate amount not less than ; provided, that # the foregoing consent of the Borrowers shall not be required if a Default has occurred and is continuing, and # each Borrower shall be deemed to have consented to any such assignment is of a constant, and not a varying, percentage ofunless it shall object thereto by written notice to the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregatewithin 10 Business Days after having received notice thereof. The amount of the Commitments retained byassignment shall be based on the transferor Lender is at least (unless otherwise agreed by Agent in its discretion); and #Commitment or outstanding Loans (if the partiesCommitment has been terminated) subject to eachthe assignment, determined as of the date of such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limitor as of the right of a Lender to pledge or assign any rights under“Trade Date,” if the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release“Trade Date” is specified in the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.assignment.

Permitted Assignments AAssignments. Any Lender may at any time assign to an Eligible Assigneeone or more banks or other entities other than Ineligible Institutions (“Purchasers”) all or any part of its rights and obligations under the Loan Documents,Documents. Such assignment shall be substantially in the form of [Exhibit G] or in such other form as long as # eachmay be agreed to by the parties thereto. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate of a constant,Lender or an Approved Fund shall either be in an amount equal to the entire applicable Commitment and not a varying, percentageLoans of the transferor Lender’s rightsassigning Lender or (unless each of the Company and obligations under the Loan Documents and,Agent otherwise consents) be in the case of a partial assignment, is in a minimum principalan aggregate amount ofnot less than (unless otherwise agreed; provided, that # the foregoing consent of the Company shall not be required if a Default has occurred and is continuing, and # the Company shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregatewithin 10 Business Days after having received notice thereof. The amount of the Commitments retained byassignment shall be based on the transferor Lender is at least (unless otherwise agreed by Agent in its discretion); and #Commitment or outstanding Loans (if the partiesCommitment has been terminated) subject to eachthe assignment, determined as of the date of such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limitor as of the right of a Lender to pledge or assign any rights under“Trade Date,” if the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall releaseTrade Date” is specified in the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.assignment.

Permitted Assignments AAssignments. Any Lender may at any time assign to an Eligible Assigneeone or more banks or other entities other than Ineligible Institutions (“Purchasers”) all or any part of its rights and obligations under the Loan Documents,Documents. Such assignment shall be substantially in the form of [Exhibit G] or in such other form as long as # eachmay be agreed to by the parties thereto. Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate of a constant,Lender or an Approved Fund shall either be in an amount equal to the entire applicable Commitment and not a varying, percentageLoans of the transferor Lender’s rightsassigning Lender or (unless each of the Company and obligations under the Loan Documents and,Agent otherwise consents) be in the case of a partial assignment, is in a minimum principalan aggregate amount ofnot less than (unless otherwise agreed; provided, that # the foregoing consent of the Company shall not be required if a Default has occurred and is continuing, and # the Company shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregatewithin 10 Business Days after having received notice thereof. The amount of the Commitments retained byassignment shall be based on the transferor Lender is at least (unless otherwise agreed by Agent in its discretion); and #Commitment or outstanding Loans (if the partiesCommitment has been terminated) subject to eachthe assignment, determined as of the date of such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limitor as of the right of a Lender to pledge or assign any rights under“Trade Date,” if the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall releaseTrade Date” is specified in the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.assignment.

Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under

the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retainedand the other rights and obligations of the assigning Lender hereunder and under the other Loan Documents subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to Agent) shall be in a minimum amount (unless waived by Agent) of (except such minimum amount shall not apply to # an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related Fund of such Lender or # a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such new Lender to the transferor Lenderextent that the aggregate amount to be assigned to all such new Lenders is at least (unless otherwise agreed by Agent in its discretion)); and # the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.

Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under

the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retainedand the other rights and obligations of the assigning Lender hereunder and under the other Loan Documents subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to Agent) shall be in a minimum amount (unless waived by Agent) of (except such minimum amount shall not apply to # an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related Fund of such Lender, or # a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such new Lender to the transferor Lenderextent that the aggregate amount to be assigned to all such new Lenders is at least (unless otherwise agreed by Agent in its discretion); and # the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.),

Permitted Assignments A Lender may assign to an Eligible Assignee any of its rights and obligations under

the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess of that amount; # except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retainedand the other rights and obligations of the assigning Lender hereunder and under the other Loan Documents subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to Agent) shall be in a minimum amount (unless waived by Agent) of (except such minimum amount shall not apply to # an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related Fund of such Lender or # a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such new Lender to the transferor Lenderextent that the aggregate amount to be assigned to all such new Lenders is at least (unless otherwise agreed by Agent in its discretion); and # the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the right of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.),

Permitted Assignments A

Any Lender maymay, with the prior written consent of Agent (which consent shall not be unreasonably withheld) and, so long as no Event of Default has occurred and is continuing, prior written consent of Borrowers, assign and delegate to one or more Eligible Assignees (provided that no consent of Agent or any Borrower shall be required in connection with any assignment and delegation by a Lender to an Eligible AssigneeAffiliate of such Lender and no consent of any Borrower shall be required in connection with any assignment and delegation by a Lender to another Lender) (each an “Assignee”) all, or any ratable part of itsall, of the Revolving Loans, the Commitments and the other rights and obligations under the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, issuch Lender hereunder, in a minimum principal amount of (unless otherwise agreed by Agent(provided that, unless an assignor Lender has assigned and delegated all of its Revolving Loans and Commitments, no such assignment and/or delegation shall be permitted unless, after giving effect thereto, such assignor Lender retains a Commitment in its discretion) and integral multiplesa minimum amount of ); provided, however, that Borrowers and Agent may continue to deal solely and directly with such Lender in excessconnection with the interest so assigned to an Assignee until # written notice of that amount;such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to Borrowers and Agent by such Lender and the Assignee; # exceptsuch Lender and its Assignee shall have delivered to Borrowers and Agent an Assignment and Acceptance in the caseform of an assignment in whole of a Lender’s rights[Exhibit B] (“Assignment and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least (unless otherwise agreed by Agent in its discretion);Acceptance”), together with any Note or Notes subject to such assignment; and # the partiesassignor Lender or Assignee has paid to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limitAgent a processing fee in the rightamount of a Lender to pledge or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto..

Permitted Assignments A

Any Lender may at any time assign to anone or more Eligible Assignee anyAssignees all or a portion of its rights and obligations under the Loan Documents, as long as # each assignment is of a constant, and not a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of (unless otherwise agreed by Agent in its discretion) and integral multiples of in excess ofthis Agreement; provided that amount; # except in the case of an assignment in wholeto a Lender or an Affiliate of a Lender or an Approved Fund with respect to a Lender, the aggregate amount of such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent shall not be less than , in the case of any assignment in respect of any Term Loans (provided, however, that concurrent assignments to or by Approved Funds will be treated as a single assignment for the purpose of meeting the minimum transfer requirements), # each of the Administrative Agent (except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund (but subject to [clause (iv)] below)), and, so long as no Event of Default has occurred and is continuing, the Borrower consents to such assignment, # each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations,obligations under this Agreement with respect to the aggregate amountLoans or the Term Commitment assigned, except that this [clause (iii)] shall not prohibit any Lender from assigning all or a portion of the Commitments retained by the transferor Lender is at least (unless otherwise agreed by Agent in its discretion);rights and obligations among separate Facilities on a non-pro rata basis, # the parties (other than the Borrower unless its consent to such assignment is required hereunder) to each such assignment shall execute and deliver to Agent, for its acceptance and recording,the Administrative Agent an Assignment and Acceptance. Nothing hereinAssumption together with a processing and recordation fee of (which fee # the Borrower shall limitnot have an obligation to pay except as required in [Section 3.07] and # may be waived or reduced by the right of aAdministrative Agent in its discretion) and # the assigning Lender shall deliver any Notes evidencing such Loans to pledgethe Borrower or assign any rights under the Loan Documents to secure obligations of such Lender, including a pledge or assignment to a Federal Reserve Bank; provided, however, that no such pledge or assignment shall release the Lender from its obligations hereunder nor substitute the pledge or assignee for such Lender as a party hereto.Administrative Agent if requested.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.