Common use of Equitable Allocation Clause in Contracts

Equitable Allocation. If as a result of any reorganization, recapitalization or other corporate change in Borrower, or as a result of any amendment, waiver or modification of the terms and conditions governing the Guaranty or any of the Guaranteed Obligations, or for any other reason, the obligations under this Section 5 become inequitable, the parties hereto shall promptly modify and amend this Section 5 to provide for an equitable allocation of obligations. All such modifications and amendments shall be in writing and signed by all parties hereto.

Appears in 1 contract

Sources: Guaranty Agreement (Caraustar Industries Inc)

Equitable Allocation. If as a result of any reorganization, recapitalization or other corporate change in Borrower▇▇▇▇▇▇ or any of its Subsidiaries, or as a result of any amendment, waiver or modification of the terms and conditions governing the Guaranty or any of the Guaranteed Obligations, or for any other reason, the obligations contributions under this Section 5 become inequitable, the parties hereto shall promptly modify and amend this Section 5 to provide for an equitable allocation of obligationscontributions. All such modifications and amendments shall be in writing and signed by all parties heretothe Guarantors, ▇▇▇▇▇▇, and the Guaranteed Parties.

Appears in 1 contract

Sources: Real Estate Term Credit Agreement (Hughes Supply Inc)