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Auctions
Auctions contract clause examples

Assignment to the Borrower. Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Borrowings are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Borrower through # Dutch auctions open to all Lenders on a pro rata basis in accordance with the procedures of the type described in Section 2.05(e[[Borrower:Organization]] or (y[[Borrower:Organization]] notwithstanding Sections 2.12 and 2.13 or any other provision in this Agreement, open market purchase on a non-pro rata basis (which open market purchase shall also apply to any Group Term Loans of the same Class under other Group Credit Agreements[[Borrower:Organization]]; provided that in connection with assignments pursuant to [clauses (x) and (y) above][[Borrower:Organization]][[Borrower:Organization]],

Assignment to the Borrower. Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Borrowings are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Borrower through # Dutch auctions open to all Lenders on a pro rata basis in accordance with the procedures of the type described in Section 2.05(e[[Borrower:Organization]] or (y[[Borrower:Organization]] notwithstanding [Sections 2.12 and 2.13]3] or any other provision in this Agreement, open market purchase on a non-pro rata basis (which open market purchase shall also apply to any Group Term Loans of the same Class under other Group Credit Agreements[[Borrower:Organization]]; provided that in connection with assignments pursuant to [clauses (x) and (y) above][[Borrower:Organization]][[Borrower:Organization]],

Assignment to the Borrower. Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Borrowings are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Borrower through # Dutch auctions open to all Lenders on a pro rata basis in accordance with the procedures of the type described in Section 2.05(e[[Borrower:Organization]] or (y[[Borrower:Organization]] notwithstanding Sections 2.12 and 2.13 or any other provision in this Agreement, open market purchase on a non-pro rata basis (which open market purchase shall also apply to any Group Term Loans of the same Class under other Group Credit Agreements[[Borrower:Organization]]; provided that in connection with assignments pursuant to [clauses ([[Borrower:Organization]]) and ([[Borrower:Organization]]) above]e],

Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Loans are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to Holdings, the Borrower or any of its Subsidiaries through # “Dutch Auctions” open to all Lenders on a pro rata basis in accordance with procedures of the type described in ‎[Section 2.05(a)(v) or (y)])] notwithstanding Sections ‎2.12 and ‎2.13 or any other provision in this Agreement, open-market purchase on a pro rata or non-pro rata basis; provided that in connection with assignments pursuant to [clauses (x) and (y) above]e]:

Assignment to Consolidated Group Entities. Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Borrowings are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans constituting Term B Loans under this Agreement to a Holding Company or the Borrower through # Dutch auctions open to all Lenders on a pro rata basis in accordance with the procedures of the type described in Section 2.05(e[[Borrower:Organization]] or (y[[Borrower:Organization]] notwithstanding Sections 2.12 and 2.13 or any other provision in this Agreement, open market purchase on a non-pro rata basis (which open market purchase shall also apply to any Group Term Loans of the same Class under other Group Credit Agreements[[Borrower:Organization]]; provided that in connection with assignments pursuant to [clauses (x) and (y) above][[Borrower:Organization]][[Borrower:Organization]], if a Holding Company is the assignee, upon such assignment, transfer or contribution, such Holding Company shall automatically be deemed to have contributed the principal amount of such Term Loans, plus all accrued and unpaid interest thereon, to the Borrower; and if the assignee is the Borrower (including through contribution or transfer set forth in [clause ([[Borrower:Organization]]) above][[Borrower:Organization]], # the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, # the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation and extinguishment of the Term Loans then held by the Borrower and # the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of such notice, shall reflect the cancellation of the applicable Term Loans in the Register.

Any Lender may, so long as no Event of Default has occurred and is continuing, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to the Borrower or any Subsidiary of the Borrower through # Dutch auctions or other offers to purchase open to all Lenders on a pro rata basis in accordance with procedures of the type described in [Section 2.05(1)(e) or (y)])] open market purchases on a non-pro rata basis; provided that:

Assignment to Consolidated Group Entities. Any Lender may, so long as no Default has occurred and is continuing and, only to the extent purchased at a discount, no proceeds of Revolving Credit Borrowings are applied to fund the consideration for any such assignment, at any time, assign all or a portion of its rights and obligations with respect to Term Loans constituting Term B Loans under this Agreement to a Holding Company or the Borrower through # Dutch auctions open to all Lenders on a pro rata basis in accordance with the procedures of the type described in Section 2.05(e[[Borrower:Organization]] or (y[[Borrower:Organization]] notwithstanding Sections 2.12 and 2.13 or any other provision in this Agreement, open market purchase on a non-pro rata basis (which open market purchase shall also apply to any Group Term Loans of the same Class under other Group Credit Agreements[[Borrower:Organization]]; provided that in connection with assignments pursuant to [clauses ([[Borrower:Organization]]) and ([[Borrower:Organization]]) above]e], if a Holding Company is the assignee, upon such assignment, transfer or contribution, such Holding Company shall automatically be deemed to have contributed the principal amount of such Term Loans, plus all accrued and unpaid interest thereon, to the Borrower; and if the assignee is the Borrower (including through contribution or transfer set forth in [clause ([[Borrower:Organization]]) above][[Borrower:Organization]], # the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, # the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation and extinguishment of the Term Loans then held by the Borrower and # the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of such notice, shall reflect the cancellation of the applicable Term Loans in the Register.

(1) Any Lender may, at any time, assign all or a portion of its rights and obligations with respect to Term Loans under this Agreement to a Person who is or will become, after such assignment, an Affiliated Lender through # “Dutch Auctions” open to all Lenders of the applicable Class on a pro rata basis in accordance with analogous procedures of the type described in ‎[Section 2.05(a)(v) or (y)])] open-market purchases on a pro rata or non-pro rata basis and # any Affiliated Lender may, at any time, purchase all or a portion of the rights and obligations of a Defaulting Lender, in each case subject to the following limitations:

Any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement to a Person who is or will become, after such assignment, the Borrower or an Affiliated Lender through # Dutch auctions open to all Lenders in accordance with procedures of the type described in [Section 2.03(a)(iv) or (y)])] open market purchase on a non-pro rata basis, in each case subject to the following limitations:

Notwithstanding anything in this Agreement to the contrary, any Term Loan Lender may, at any time, assign all or a portion of its Term Loans on a non-pro rata basis to the Borrower or any Restricted Subsidiary through # Dutch Auctions open to all Lenders of a particular Class on a pro rata basis and/or # open market purchases, in each case so long as immediately upon the effectiveness of such assignment or purchase of Term Loans from a Lender to the Borrower or any Subsidiary, such Term Loans shall automatically and permanently be cancelled and shall thereafter no longer be outstanding for any purpose hereunder.

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