Contribution from Other Guarantors Clause Samples

The 'Contribution from Other Guarantors' clause establishes the right of a guarantor to seek proportional reimbursement from other guarantors if one guarantor pays more than their fair share of a guaranteed obligation. In practice, if multiple parties have guaranteed the same debt and one is required to pay a larger portion due to the creditor's demand, this clause allows that party to recover the excess from the other guarantors. Its core function is to ensure fairness among guarantors by distributing liability equitably and preventing any single guarantor from bearing an undue burden.
Contribution from Other Guarantors. Each Guarantor that makes a payment or distribution under its Guarantee shall be entitled to a contribution from each other Guarantor in a pro rata amount based on the net assets of each Guarantor, determined in accordance with generally accepted accounting principles in effect in the United States of America as of the date hereof.
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Contribution from Other Guarantors. Each Guarantor that ---------------------------------- makes a payment or distribution under its Security Guarantee shall be entitled to a contribution from each other Guarantor in a pro rata amount based on the net assets of each Guarantor, determined in accordance with GAAP.
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Contribution from Other Guarantors. Each Guarantor that ---------------------------------- makes a payment or distribution under its Security Guarantee shall be entitled to a contribution from each other Guarantor in a pro rata amount based on the net assets of each Guarantor, determined in accordance with GAAP.
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Related to Contribution from Other Guarantors

  • When Can I Make Contributions You may make annual contributions to your ▇▇▇▇ ▇▇▇ any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your ▇▇▇▇ ▇▇▇ even after you attain RMD age. In addition, rollover contributions and transfers (to the extent permitted as discussed below) may be made at any time, regardless of your age.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.