CCRT » Topics » ASSIGNMENTS

This excerpt taken from the CCRT 10-Q filed Aug 3, 2005.

ASSIGNMENTS

 

Restrictions on Assignments.  Except as specifically provided herein and in the Transaction Documents, neither the Borrower, the Seller, the Guarantor, CCRT, the Servicer, CAR, the Administrative Agent, the Collateral Agent, the Custodian nor Backup Servicer may assign any of their respective rights or obligations hereunder or any interest herein without the prior written consent of the Administrative Agent and the Required Lenders.  No Noncommitted Lender shall assign any of its Advances or rights hereunder without the consent of its Committed Lenders and the consent of the Borrower; and no Committed Lender may assign any of its Advances or rights or commitments hereunder without the consent of the related Noncommitted Lenders and the consent of the Borrower.  Any Lender may furnish any information concerning the Borrower, the Seller, the Servicer, the Guarantors, CAR or CCRT or the Transaction Documents to prospective assignees or participants; provided that prior to furnishing any such information, any such prospective assignee or participant shall have executed a confidentiality agreement in which it agrees to comply with the provisions of Section 18.14.

 

Documentation.  Each Lender shall deliver to each assignee an assignment, in such form as such Lender and the related assignee may agree, duly executed by such Lender assigning any such rights, obligations, Advance or Note to the assignee; and such Lender shall promptly execute and deliver all further instruments and documents, and take all further action, that the assignee may reasonably request, in order to perfect, protect or more fully evidence the assignee’s right, title and interest in and to the items assigned, and to enable the assignee to exercise or enforce any rights hereunder or under the Notes evidencing such Advance.

 

Rights of Assignee.  Upon the foreclosure of any assignment of any Advances made for security purposes, or upon any other assignment of any Advance from any Lender pursuant to this Article XVI, the respective assignee receiving such assignment shall have all of the rights of such Lender hereunder with respect to such Advances and all references to the Lender or Investors in Section 6.1 shall be deemed to apply to such assignee.

 

Notice of Assignment.  Each Lender shall provide notice to the Borrower, the Servicer and the Seller of any assignment hereunder by such Lender to any assignee.  Each Lender authorizes the related Agent to, and such Agent agrees that it shall, endorse the Notes to reflect any assignments made pursuant to this Article XVI or otherwise, together with a copy of the executed assignments, which shall include the address, contact information, and payment instructions for the assignee.

 

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