Common use of Effect of redistribution Clause in Contracts

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 13 contracts

Sources: Credit Agreement, Credit Facilities Agreement (Amec PLC), Credit Facilities Agreement (Amec PLC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 13 contracts

Sources: Credit Facility Agreement, Facilities Agreement (Mittal Steel Co N.V.), Credit Facility Agreement (Telesystem International Wireless Inc)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 12 contracts

Sources: Facilities Agreement (Preem Holdings Ab Publ), Senior Credit Facility (Smurfit Kappa Funding PLC), Credit Facility Agreement (Valentia Telecommunications)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 7 contracts

Sources: Credit Facility Agreement, Credit Facility Agreement (Seaspan CORP), Credit Facility Agreement (PPL Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Owner under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties Lenders which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Owner will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Owner; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 5 contracts

Sources: Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (DryShips Inc.), Credit Facility Agreement (DryShips Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 4 contracts

Sources: Credit Facilities Agreement (Liberty Global, Inc.), Credit Facilities Agreement (Liberty Global, Inc.), Loan Facility Agreement (Evraz Group S.A.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, Lenders accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Sources: Supplemental Agreement (Enodis PLC), Credit Facility Agreement (Enodis PLC), Credit Facility Agreement (Smith & Nephew PLC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, Lenders accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Sources: Facility Agreement (Smith & Nephew PLC), Loan Agreement (Smith & Nephew PLC), Facility Agreement (Smith & Nephew PLC)

Effect of redistribution. (a) The Facility Agent Security Trustee must treat a redistribution as if it were a payment by the relevant Obligor Guarantor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent Security Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Guarantor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Guarantor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Security Trustee must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Sources: Sponsor Construction and Post Delivery Guarantee (Ocean Rig UDW Inc.), Sponsor Construction and Post Delivery Guarantee (Ocean Rig UDW Inc.), Guarantee Agreement (Ocean Rig UDW Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which that have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Sources: Revolving Credit Facility Agreement (MGM Resorts International), Revolving Credit Facility Agreement (MGM Resorts International), Revolving Credit Facility Agreement (MGM Resorts International)

Effect of redistribution. (a) The Facility Agent Security Trustee must treat a redistribution as if it were a payment by the relevant Obligor Guarantor under this Agreement Guarantee and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent Security Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Guarantor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Guarantor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Security Trustee must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Sponsor Guarantee (Ocean Rig UDW Inc.), Sponsor Guarantee (Ocean Rig UDW Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) aboveof this Clause 29.2, the recovering Finance Party will be subrogated to the rights of the Finance Parties which that have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) aboveof this Clause 29.2, the relevant Obligor Company will owe the recovering Finance Party a debt which that is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above of this Clause 29.2 will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Multicurrency Revolving Credit Facility (United States Steel Corp), Credit Facility Agreement (United States Steel Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which that have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Fifth Supplemental Agreement (MGM Resorts International), Supplemental Agreement (MGM Resorts International)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Credit Facility Agreement (PPL Corp), Credit Facility Agreement (PPL Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursementreimbursement and the obligations of the Company under this sub-clause will be adjusted accordingly.

Appears in 2 contracts

Sources: Revolving Credit Facility Agreement (Edizione Holding Spa), Revolving Credit Facility (Telecom Italia S P A)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, Parties (other than the recovering Finance Party, accordingly) in accordance with clause 17.7 (Partial payments). (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Facility Agreement (TTM Technologies Inc), Facility Agreement (TTM Technologies Inc)

Effect of redistribution. (a) The Facility Security Agent must shall treat a redistribution as if it were a payment by the relevant Obligor under this Agreement proceeds of enforcement of the Transaction Security Documents and distribute it among the Finance Parties, other than the recovering Finance Party, accordinglyin accordance with this Agreement. (b) When the Facility Security Agent makes a distribution under paragraph (a) above, the recovering Finance Recovering Secured Party will be subrogated to the rights of the Finance Secured Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Recovering Secured Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Party will owe the recovering Finance Recovering Secured Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Recovering Secured Party must shall subsequently return a recovery, or an amount measured by reference to a recovery, to an ObligorObligor Party; and (ii) the recovering Finance Recovering Secured Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must Secured Party shall reimburse the recovering Finance Recovering Secured Party all or the appropriate portion of the redistribution paid to that Finance Secured Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Facility Agreement (GDS Holdings LTD), Facility Agreement (GDS Holdings LTD)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; Obligor and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Revolving Credit Facility (Quintana Maritime LTD), Credit Facility Agreement (Quintana Maritime LTD)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering each Finance Party will be subrogated to the rights of the Finance Parties which have has shared in that redistribution. (c) If and redistribution will assign to the extent recovering Lender that part of its own corresponding claim against the recovering Finance Party is not able relevant Obligor which equals its share in that redistribution and subsequently to rely on any rights of subrogation under paragraph (b) abovesuch assignments being effected, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable as and of the type originally discharged. (dc) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation assignments in paragraph (b) above will operate in reverse be reversed to the extent of the reimbursement.

Appears in 2 contracts

Sources: Credit Facility Agreement (Merck Kgaa /Fi), Credit Facility Agreement (E. Merck oHG)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, Lenders (other than the recovering Finance Party, Lender) accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) . If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Supplemental Agreement (Centex Development Co Lp), Credit Agreement (Centex Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant that Obligor under this Agreement First Facility Letter and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) aboveover, the relevant that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an the relevant Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, Party on the request of the Facility Agent, Agent must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above over will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: First Ekf Facility Letter (Votorantim Cimentos S.A.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Baidu, Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, Party accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, Party on the request of the Facility Agent, Agent must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Facility Agreement (Aquaventure Holdings LLC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Owner under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties Lenders which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Owner will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Owner; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre­distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Ocean Rig UDW Inc.)

Effect of redistribution. (a) The Facility Security Agent must shall treat a redistribution as if it were a payment by the relevant Obligor under this Agreement proceeds of enforcement of the Transaction Security Documents and distribute it among the Finance Parties, other than the recovering Finance Party, accordinglyin accordance with this Agreement. (b) When the Facility Security Agent makes a distribution under paragraph (a) above, the recovering Finance Recovering Secured Party will be subrogated to the rights of the Finance Secured Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Recovering Secured Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Party will owe the recovering Finance Recovering Secured Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Recovering Secured Party must shall subsequently return a recovery, or an amount measured by reference to a recovery, to an ObligorObligor Party; and (ii) the recovering Finance Recovering Secured Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must Secured Party shall reimburse the recovering Finance Recovering Secured Party all or the appropriate portion of the redistribution paid to that Finance Secured Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Facility Agreement (GDS Holdings LTD)

Effect of redistribution. (a) The Facility Administrative Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Administrative Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Administrative Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Photronics Inc)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.the

Appears in 1 contract

Sources: Credit Facility (Tele2 Ab)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. redistribution by each Finance Party (cother than the recovering Finance Party) If and assigning to the extent that the recovering Finance Party that part of its own corresponding claim hereunder which is not able allocable to rely on any rights its portion of subrogation under paragraph (b) abovethe redistribution, and subsequently to such assignments being effected the relevant Obligor Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (dc) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursementreimbursement (including the reversal of the assignments contemplated hereby).

Appears in 1 contract

Sources: Syndicated Facilities Agreement (Bayer Aktiengesellschaft)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with 95 CREDIT AGREEMENT interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Agreement (MGM Resorts International)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Oce N V)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering each Finance Party will be subrogated to the rights of the Finance Parties which have has shared in that redistribution. (c) If and redistribution will assign to the extent recovering Lender that part of its own corresponding claim against the recovering Finance Party relevant Obligor which is not able allocable to rely on any rights its portion of subrogation under paragraph (b) abovethe redistribution, and subsequently to such assignment being effected the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (dc) If: (i) a recovering Finance Party ▇▇▇▇▇▇ must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party ▇▇▇▇▇▇ has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation assignments in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Terex Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrowers under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrowers will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrowers; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Reducing Revolving Credit Facility (Seaspan CORP)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursementredistribution.

Appears in 1 contract

Sources: Credit Facilities (Imperial Tobacco Group PLC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor a Borrower under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facilities Agreement

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and arid to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an an. Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Eros International PLC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) . If: (ia) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an any Obligor; and (iib) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Agreement (Global Ship Lease, Inc.)

Effect of redistribution. (a) The Facility Agent Trustee must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Loan Note Facility (Babylon Holdings LTD)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Owner under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties Lenders which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Owner will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Owner; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Ocean Rig UDW Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Company will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Facility Agreement (Pencil Acquisition Corp.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligora Borrower; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility (Vivendi Universal)

Effect of redistribution. (a) The Facility Agent Trustee must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.. 113 (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Loan Agreement (Babylon Holdings LTD)

Effect of redistribution. (a) The Global Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesParties under the Global Facility, other than the recovering Finance Party, accordingly. (b) When the Global Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (UTi WORLDWIDE INC)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution.. 87 21 July 2005 (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Seaspan CORP)

Effect of redistribution. (a) The Facility Agent Trustee must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly.. 124 (b) When the Facility Agent Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Loan Agreement (Babylon Holdings LTD)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an any Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre- distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Facility Agreement (Global Ship Lease, Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance PartyParty must, on within three Business Days of demand by the request of recovering Lender through the Facility Agent, must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Multicurrency Revolving Credit and Guarantee Facility (Rhodia)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorany Borrower; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistributionre-distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Global Ship Lease, Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligora Borrower; and (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse to the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Facility Agreement (Danaos Corp)

Effect of redistribution. (a) The Facility Senior Agent must treat a redistribution as if it were a payment by the relevant Obligor Borrower under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Senior Agent makes a distribution under paragraph (a‎(a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately due and payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Common Terms Agreement (Sunpower Corp)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor under this Agreement and distribute it among the Finance PartiesLenders, other than the recovering Finance PartyLender, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party Lender will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party Lender is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; andand Table of Contents (ii) the recovering Finance Party Lender has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Facilities Agreement (Mittal Steel Co N.V.)

Effect of redistribution. (a) The Facility Agent must shall treat a redistribution Redistribution as if it were a payment by the relevant Obligor under this Agreement a Senior Finance Document and distribute it among the Senior Finance Parties, Parties (other than the recovering Recovering Finance Party, ) accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above), the recovering Recovering Finance Party will be subrogated to the rights of the Senior Finance Parties which have shared in that redistributionRedistribution. (c) If and to the extent that the recovering Recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above), the relevant Obligor will owe the recovering Recovering Finance Party a debt which is equal to the redistributionRedistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Recovering Finance Party must has to subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligor; and (ii) the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Senior Finance Party (other than the Recovering Finance Party, on the request of the Facility Agent, must ) shall reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Senior Finance Party, together with interest for the period while it held the redistributionamount to be reimbursed. In this that event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Senior Credit Agreement (Shurgard Storage Centers Inc)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Obligor Company under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) aboveof this Clause 31.2, the recovering Finance Party will be subrogated to the rights of the Finance Parties which that have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) aboveof this Clause 31.2, the relevant Obligor Company will owe the recovering Finance Party a debt which that is equal to the redistribution, immediately payable and of the type originally discharged.. 0040772-0000066 BT:1030359.12 73 (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above of this Clause 31.2 will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Multicurrency Revolving Credit Facility (United States Steel Corp)

Effect of redistribution. (a) The Facility Agent Security’ Trustee must treat a redistribution as if it were a payment by the relevant Obligor Guarantor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent Security Trustee makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Obligor Guarantor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Guarantor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Security Trustee must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Guarantee Agreement (Ocean Rig UDW Inc.)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant Relevant Obligor under this Agreement and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) above, the relevant Relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an a Relevant Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, on the request of the Facility Agent, Party must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Term and Revolving Credit Facility Agreement (Kellwood Co)

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the relevant that Obligor under this Agreement Second Facility Letter and distribute it among the Finance Parties, other than the recovering Finance Party, accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in that redistribution. (c) If and to the extent that the recovering Finance Party is not able to rely on any rights of subrogation under paragraph (b) aboveover, the relevant that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. (d) If: (i) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an the relevant Obligor; and (ii) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party, Party on the request of the Facility Agent, Agent must reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the redistribution. In this event, the subrogation in paragraph (b) above over will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Second Ekf Facility Letter (Votorantim Cimentos S.A.)