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 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 Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the Company 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 Company 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:

Effect of redistribution. (a) The Facility Agent must treat a redistribution as if it were a payment by the Company 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 Company relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.