Common use of Allocation of Proceeds Clause in Contracts

Allocation of Proceeds. (a) If one or more Parties sustain a single loss for which recovery is received under the Policy, each Party shall receive that portion of the recovery which is sufficient in amount to indemnify that Party in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate to fully indemnify all Parties for such single loss. (b) If the recovery is inadequate to indemnify fully each Party for such single loss (other than the portion thereof subject to a deductible), the recovery shall be allocated among the Parties as follows: (i) Each Insured shall be allocated an amount equal to the lesser of its actual loss (net of any deductible) and its pro rata coverage as determined by calculating the assets of that Insured in proportion to the total assets of all Insureds; and (ii) The remaining portion of the recovery (if any) shall be allocated to each Insured for the portion of the loss not fully indemnified by the allocation under subparagraph (i) in the same proportion as the portion of each Insured’s loss which is not fully indemnified bears to the sum of the unindemnified loss of itself and each other Insured. If such allocation would result in any Insured’s receiving a portion of the recovery in excess of the loss actually sustained by it, the aggregate of such excess portion shall be reallocated to each other Insured if its losses would not be fully indemnified as a result of the foregoing allocation. (iii) All claims of the Insureds which have been duly proved and established under the Policy shall be satisfied in full before satisfaction of any claims of Domini, if any. (c) If the recovery made pursuant to subparagraphs (a) and (b) hereof reduces the total amount of coverage provided by the Policy because recovery is made from a portion of the Policy written on an “annual aggregate” basis: (i) The Parties agree to seek additional coverage to reinstate the reduction in coverage; or (ii) In the event any subsequent loss is sustained, any recovery by a Party in excess of the minimum amount allocated to it from coverage written on an “annual aggregate” basis shall be reallocated in the event of subsequent single loss among the Party or Parties sustaining the earlier loss(es) and the other Parties in accordance with subparagraphs (a) and (b) above; or (iii) Any recovery in excess of the minimum amount allocated from coverage written on an “annual aggregate” basis shall be paid into an escrow account and allocated in accordance with subparagraphs (a) and (b) above upon final determination of the aggregate losses for the policy year. (d) In the event that a recovery by a Party is less than its actual loss because of the applicability of a deductible clause that is applicable on an “annual aggregate” rather than a “per occurrence” basis and one or more other Parties sustain a subsequent loss or losses to which none or only the remaining portion of the deductible amount applies, the Party(ies) that sustained the earlier loss(es) shall be entitled to a portion of the recovery with respect to the later loss(es) such that the total burden of the deductible amount is borne between and/or among the Parties in accordance with the percentages set forth in Section 3(b) hereto.

Allocation of Proceeds. (a) If one or more Parties sustain a single loss for which recovery is received under the Policy, each Party shall receive that portion of the recovery which is sufficient in amount to indemnify that Party in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate to fully indemnify all Parties for such single loss. (b) If the recovery is inadequate to indemnify fully each Party for such single loss (other than the portion thereof subject to a deductible), the recovery shall be allocated among the Parties as follows: (i) Each Insured shall be allocated an amount equal to the lesser of its actual loss (net of any deductible) and its pro rata coverage as determined by calculating the assets of that Insured in proportion to the total assets of all Insureds; and (ii) The remaining portion of the recovery (if any) shall be allocated to each Insured for the portion of the loss not fully indemnified by the allocation under subparagraph (i) in the same proportion as the portion of each Insured’s 's loss which is not fully indemnified bears to the sum of the unindemnified loss of itself and each other Insured. If such allocation would result in any Insured’s 's receiving a portion of the recovery in excess of the loss actually sustained by it, the aggregate of such excess portion shall be reallocated to each other Insured if its losses would not be fully indemnified as a result of the foregoing allocation. (iii) All claims of the Insureds which have been duly proved and established under the Policy shall be satisfied in full before satisfaction of any claims of Domini, if any. (c) If the recovery made pursuant to subparagraphs (a) and (b) hereof reduces the total amount of coverage provided by the Policy because recovery is made from a portion of the Policy written on an “"annual aggregate” " basis: (i) The Parties agree to seek additional coverage to reinstate the reduction in coverage; or (ii) In the event any subsequent loss is sustained, any recovery by a Party in excess of the minimum amount allocated to it from coverage written on an “"annual aggregate” " basis shall be reallocated in the event of subsequent single loss among the Party or Parties sustaining the earlier loss(es) and the other Parties in accordance with subparagraphs (a) and (b) above; or (iii) Any recovery in excess of the minimum amount allocated from coverage written on an “"annual aggregate” " basis shall be paid into an escrow account and allocated in accordance with subparagraphs (a) and (b) above upon final determination of the aggregate losses for the policy year. (d) In the event that a recovery by a Party is less than its actual loss because of the applicability of a deductible clause that is applicable on an “"annual aggregate” " rather than a “"per occurrence” " basis and one or more other Parties sustain a subsequent loss or losses to which none or only the remaining portion of the deductible amount applies, the Party(ies) that sustained the earlier loss(es) shall be entitled to a portion of the recovery with respect to the later loss(es) such that the total burden of the deductible amount is borne between and/or among the Parties in accordance with the percentages set forth in Section 3(b) hereto.

Allocation of Proceeds. (a) If one or more Parties Insureds sustain a single loss for which recovery is received under the Policy, each Party Insured shall receive that portion of the recovery which is sufficient in amount to indemnify that Party Insured in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate to fully indemnify all Parties Insureds for such single loss. (b) If the recovery is inadequate to indemnify fully each Party Insured for such single loss (other than the portion thereof subject to a deductible), the recovery shall be allocated among the Parties Insureds as follows: (i) Each Insured shall be allocated an amount equal to the lesser of its actual loss (net of any deductible) and its pro rata the minimum amount of coverage as determined by calculating the assets of that Insured allocated to it in proportion to the total assets of all Insuredsaccordance with Schedule A attached hereto; and (ii) The remaining portion of the recovery (if any) shall be allocated to each Insured for the portion of the loss not fully indemnified by the allocation under subparagraph (i) in the same proportion as the portion of each Insured’s 's loss which is not fully indemnified bears to the sum of the unindemnified loss of itself and each the other Insured. If such allocation would result in any either Insured’s 's receiving a portion of the recovery in excess of the loss actually sustained by it, the aggregate of such excess portion shall be reallocated to each the other Insured if its losses would not be fully indemnified as a result of the foregoing allocation. (iii) All claims of the Insureds which have been duly proved and established under the Policy shall be satisfied in full before satisfaction of any claims of Domini, if any. (c) If the recovery made pursuant to subparagraphs (a) and (b) hereof reduces the total amount of coverage provided by the Policy because recovery is made from a portion of the Policy written on an “"annual aggregate” " basis: (i) The Parties Insureds agree to seek additional coverage to reinstate the reduction in coverage; or (ii) In the event any subsequent loss is sustained, any recovery by a Party an Insured in excess of the minimum amount allocated to it in accordance with Schedule A from coverage written on an “"annual aggregate” " basis shall be reallocated in the event of subsequent single loss among the Party Insured or Parties Insureds sustaining the earlier loss(es) and the other Parties Insureds in accordance with subparagraphs (a) and (b) above; or (iii) Any recovery in excess of the minimum amount allocated in accordance with Schedule A from coverage written on an “"annual aggregate” " basis shall be paid into an escrow account and allocated in accordance with subparagraphs (a) and (b) above upon final determination of the aggregate losses for the policy year. (d) In the event that a recovery by a Party an Insured is less than its actual loss because of the applicability of a deductible clause that is applicable on an “"annual aggregate” " rather than a “"per occurrence” " basis and one or more other Parties Insureds sustain a subsequent loss or losses to which none or only the remaining portion of the deductible amount applies, the Party(iesInsured(s) that sustained the earlier loss(es) shall be entitled to a portion of the recovery with respect to the later loss(es) such that the total burden of the deductible amount is borne between and/or among the Parties Insureds in accordance with the percentages set forth in Section 3(b) Schedule A hereto.

Allocation of Proceeds. (a) If one or more Parties Insureds sustain a single loss for which recovery is received under the Policy, each Party Insured shall receive that portion of the recovery which is sufficient in amount to indemnify that Party Insured in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate to fully indemnify all Parties Insureds for such single loss. (b) If the recovery is inadequate to indemnify fully each Party Insured for such single loss (other than the portion thereof subject to a deductible), the recovery shall be allocated among the Parties Insureds as follows: (i) Each Insured shall be allocated an amount equal to the lesser of its actual loss (net of any deductible) and its pro rata the minimum amount of coverage as determined by calculating the assets of that Insured allocated to it in proportion to the total assets of all Insuredsaccordance with Schedule A attached hereto; and (ii) The remaining portion of the recovery (if any) shall be allocated to each Insured for the portion of the loss not fully indemnified by the allocation under subparagraph (i) in the same proportion as the portion of each Insured’s loss which is not fully indemnified bears to the sum of the unindemnified loss of itself and each the other Insured. If such allocation would result in any either Insured’s receiving a portion of the recovery in excess of the loss actually sustained by it, the aggregate of such excess portion shall be reallocated to each the other Insured if its losses would not be fully indemnified as a result of the foregoing allocation. (iii) All claims of the Insureds which have been duly proved and established under the Policy shall be satisfied in full before satisfaction of any claims of Domini, if any. (c) If the recovery made pursuant to subparagraphs (a) and (b) hereof reduces the total amount of coverage provided by the Policy because recovery is made from a portion of the Policy written on an “annual aggregate” basis: (i) The Parties Insureds agree to seek additional coverage to reinstate the reduction in coverage; or (ii) In the event any subsequent loss is sustained, any recovery by a Party an Insured in excess of the minimum amount allocated to it in accordance with Schedule A from coverage written on an “annual aggregate” basis shall be reallocated in the event of subsequent single loss among the Party Insured or Parties Insureds sustaining the earlier loss(es) and the other Parties Insureds in accordance with subparagraphs (a) and (b) above; or (iii) Any recovery in excess of the minimum amount allocated in accordance with Schedule A from coverage written on an “annual aggregate” basis shall be paid into an escrow account and allocated in accordance with subparagraphs (a) and (b) above upon final determination of the aggregate losses for the policy year. (d) In the event that a recovery by a Party an Insured is less than its actual loss because of the applicability of a deductible clause that is applicable on an “annual aggregate” rather than a “per occurrence” basis and one or more other Parties Insureds sustain a subsequent loss or losses to which none or only the remaining portion of the deductible amount applies, the Party(iesInsured(s) that sustained the earlier loss(es) shall be entitled to a portion of the recovery with respect to the later loss(es) such that the total burden of the deductible amount is borne between and/or among the Parties Insureds in accordance with the percentages set forth in Section 3(b) Schedule A hereto.

Allocation of Proceeds. Any proceeds of Collateral received by the Administrative Agent (i) not constituting (A) a specific payment of principal, interest, fees or other sum payable under the Loan Documents (which shall be applied as specified by the Borrower) or (B) a mandatory prepayment (which shall be applied in accordance with Section 2.10) or (ii) after an Event of Default has occurred and is continuing and the Administrative Agent so elects or the Required Lenders so direct, such funds shall be applied ratably first, to pay any fees, indemnities, or expense reimbursements including amounts then due to the Administrative Agent and the Issuing Bank from the Borrower, second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower, third, to pay interest then due and payable on the Loans ratably, fourth, to prepay principal on the Loans and unreimbursed LC Disbursements and any other amounts owing with respect to Banking Services Obligations and Swap Obligations ratably, fifth, to pay an amount to the Administrative Agent equal to 105% of the aggregate undrawn face amount of all outstanding Letters of Credit and the aggregate amount of any unpaid LC Disbursements, to be held as cash collateral for such Obligations, and sixth, to the payment of any other Secured Obligation due to the Administrative Agent or any Lender by the Borrower. Notwithstanding the foregoing, amounts received from any Loan Party shall not be applied to any Excluded Swap Obligation of such Loan Party. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless a Default is in existence, none of the Administrative Agent or any Lender shall apply any payment which it receives to any Eurocurrency Loan of a Class, except (a) If one on the expiration date of the Interest Period applicable to any such Eurocurrency Loan or more Parties sustain a single loss for which recovery is received under (b) in the Policyevent, each Party and only to the extent, that there are no outstanding ABR Loans of the same Class and, in any event, the Borrower shall receive that pay the break funding payment required in accordance with Section 2.15. The Administrative Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the recovery which is sufficient in amount to indemnify that Party in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate to fully indemnify all Parties for such single lossSecured Obligations. (b) If the recovery is inadequate to indemnify fully each Party for such single loss (other than the portion thereof subject to a deductible), the recovery shall be allocated among the Parties as follows: (i) Each Insured shall be allocated an amount equal to the lesser of its actual loss (net of any deductible) and its pro rata coverage as determined by calculating the assets of that Insured in proportion to the total assets of all Insureds; and (ii) The remaining portion of the recovery (if any) shall be allocated to each Insured for the portion of the loss not fully indemnified by the allocation under subparagraph (i) in the same proportion as the portion of each Insured’s loss which is not fully indemnified bears to the sum of the unindemnified loss of itself and each other Insured. If such allocation would result in any Insured’s receiving a portion of the recovery in excess of the loss actually sustained by it, the aggregate of such excess portion shall be reallocated to each other Insured if its losses would not be fully indemnified as a result of the foregoing allocation. (iii) All claims of the Insureds which have been duly proved and established under the Policy shall be satisfied in full before satisfaction of any claims of Domini, if any. (c) If the recovery made pursuant to subparagraphs (a) and (b) hereof reduces the total amount of coverage provided by the Policy because recovery is made from a portion of the Policy written on an “annual aggregate” basis: (i) The Parties agree to seek additional coverage to reinstate the reduction in coverage; or (ii) In the event any subsequent loss is sustained, any recovery by a Party in excess of the minimum amount allocated to it from coverage written on an “annual aggregate” basis shall be reallocated in the event of subsequent single loss among the Party or Parties sustaining the earlier loss(es) and the other Parties in accordance with subparagraphs (a) and (b) above; or (iii) Any recovery in excess of the minimum amount allocated from coverage written on an “annual aggregate” basis shall be paid into an escrow account and allocated in accordance with subparagraphs (a) and (b) above upon final determination of the aggregate losses for the policy year. (d) In the event that a recovery by a Party is less than its actual loss because of the applicability of a deductible clause that is applicable on an “annual aggregate” rather than a “per occurrence” basis and one or more other Parties sustain a subsequent loss or losses to which none or only the remaining portion of the deductible amount applies, the Party(ies) that sustained the earlier loss(es) shall be entitled to a portion of the recovery with respect to the later loss(es) such that the total burden of the deductible amount is borne between and/or among the Parties in accordance with the percentages set forth in Section 3(b) hereto.