Nautilus 2005 Annual Report Download - page 138

Download and view the complete annual report

Please find page 138 of the 2005 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 169

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169

(c) Minimum Amount . Each such assignment shall be in a minimum amount of the lesser of Five Million Dollars ($5,000,000) of the
assignor’s Commitment and interest herein or the entire amount of the assignor’s Commitment and interest herein.
(d) Assignment Fee
. Unless the assignment shall be to an affiliate of the assignor or the assignment shall be due to merger of the assignor
or for regulatory purposes, either the assignor or the assignee shall remit to Agent, for its own account, an administrative fee of Three
Thousand Five Hundred Dollars ($3,500).
(e) Assignment Agreement . Unless the assignment shall be due to merger of the assignor or a collateral assignment for regulatory
purposes, the assignor shall (i) cause the assignee to execute and deliver to Borrower and Agent an Assignment Agreement, and (ii) execute
and deliver, or cause the assignee to execute and deliver, as the case may be, to Agent such additional amendments, assurances and other
writings as Agent may reasonably require.
(f) Non-U.S. Assignee . If the assignment is to be made to an assignee that is organized under the laws of any jurisdiction other than the
United States or any state thereof, the assignor Lender shall cause such assignee, at least five Business Days prior to the effective date of such
assignment, (i) to represent to the assignor Lender (for the benefit of the assignor Lender, Agent and Borrower) that under applicable law and
treaties no taxes will be required to be withheld by Agent, Borrower or the assignor with respect to any payments to be made to such assignee
in respect of the Loans hereunder, (ii) to furnish to the assignor Lender (and, in the case of any assignee registered in the Register (as defined
below), Agent and Borrower) either U.S. Internal Revenue Service Form W-8ECI or U.S. Internal Revenue Service Form W-8BEN, as
applicable (wherein such assignee claims entitlement to complete exemption from U.S. federal withholding tax on all payments hereunder), and
(iii) to agree (for the benefit of the assignor, Agent and Borrower) to provide to the assignor Lender (and, in the case of any assignee registered
in the Register, to Agent and Borrower) a new Form W-8ECI or Form W-8BEN, as applicable, upon the expiration or obsolescence of any
previously delivered form, and to provide comparable statements in accordance with applicable U.S. laws and regulations and amendments
duly executed and completed by such assignee, and to comply from time to time with all applicable U.S. laws and regulations with regard to
such withholding tax exemption.
(g) Deliveries by Borrower . Upon satisfaction of all applicable requirements specified in subsections (a) through (f) above, Borrower
shall execute and deliver (i) to Agent, the assignor and the assignee, any consent or release (of all or a portion of the obligations of the assignor)
that is reasonably required to be delivered by Borrower in connection with the Assignment Agreement, and (ii) to the assignee, if requested,
and the assignor, if applicable, an appropriate Note or Notes. After delivery of the new Note or Notes, the assignor’s Note or Notes, if any,
being replaced shall be returned to Borrower marked “replaced”.
(h) Effect of Assignment . Upon satisfaction of all applicable requirements set forth in subsections (a) through (g) above, and any other
condition contained in this Section 10.10,
60