Common use of Effect of redistribution Clause in Contracts

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

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 Lenders accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering 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 Lender is not able to rely on any rights of subrogation under paragraph (b) above, the Company relevant Obligor will owe the recovering Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. . (d) If: (i) a recovering Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to the Companyan Obligor; and (ii) the recovering Lender has paid a redistribution in relation to that recovery, each Finance Party must reimburse the recovering Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the re-there distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.

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 Lenders accordingly. (b) When the Facility Agent makes a distribution under paragraph (a) above, the recovering 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 Lender is not able to rely on any rights of subrogation under paragraph (b) above, the Company will owe the recovering Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged. . (d) If: (i) a recovering Lender must subsequently return a recovery, or an amount measured by reference to a recovery, to the Company; and (ii) the recovering Lender has paid a redistribution in relation to that recovery, each Finance Party must reimburse the recovering Lender all or the appropriate portion of the redistribution paid to that Finance Party, together with interest for the period while it held the re-re- distribution. In this event, the subrogation in paragraph (b) above will operate in reverse to the extent of the reimbursement.. --------------------------------------------------------------------------------