Proportionate Sharing Sample Clauses
The Proportionate Sharing clause establishes that parties involved in a joint venture or shared arrangement will divide benefits, costs, or liabilities according to their respective shares or contributions. In practice, this means that if multiple parties invest different amounts or hold varying percentages of interest, each will receive profits or bear losses in direct proportion to their stake. This clause ensures fairness and transparency by aligning each party’s financial responsibility and reward with their level of participation, thereby preventing disputes over unequal distribution.
Proportionate Sharing. If any Bank shall obtain --------------------- payment of any principal of or interest on any Advances by any means (including through the exercise of any right of set-off, banker's lien or counterclaim or similar right or otherwise or through the exercise of any right under any Loan Document), and, as a result of such payment, such Bank shall have received a greater percentage of the principal or interest then due hereunder by the Borrower to such Bank than its proportionate share thereof, it shall promptly purchase a participation from such other Banks (or in interest due thereon, as the case may be) in such amounts, and make such other adjustments from time to time as shall be equitable, to the end that all the Banks shall share the benefit of such excess payment (net of any expenses which may be incurred by such Bank in obtaining or preserving such excess payment) in proportion to the principal and/or interest on the Advances held by each of the Banks. To such end, all the Banks shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. The Borrower agrees that any Bank so purchasing a participation (or direct interest) in the Advances made by other Banks (or in interest due thereon, as the case may be) may exercise any and all rights of set-off, banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Bank were a direct holder of Advances in the amount of such participation. Nothing in this Agreement shall require any Bank to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. If under any applicable bankruptcy, insolvency or other similar law, any Bank receives a secured claim in lieu of a set-off to which this Section 2.20 applies, such Bank shall, to the extent practicable exercise its rights in respect of such secured claim in a manner consistent with the rights of the Banks entitled under this Section 2.20 to share in the benefits of any recovery on such secured claim.
Proportionate Sharing. 55 33.1 Sharing .......................................................... 55 33.2 Refusal to join in action ........................................ 55 34.
Proportionate Sharing. Subject to clause 24.2 and clause 24.5 and except to the extent that this Agreement expressly provides for the direct payment to that Lender of such amount whenever any Lender receives or recovers (whether by way of set-off, banker’s lien or otherwise) all or part of any amount due from the Borrower or any other Obligor under this Agreement otherwise than by way of a distribution by the Agent, then:
(a) that Lender shall promptly pay the amount received or recovered to the Agent; and
(b) that amount shall be deemed to have been a payment to the Agent for the account of all the Lenders and not a payment to that Lender for its own account, and to that extent the liability of the Borrower to that Lender shall not be reduced by that amount, other than to the extent of any distribution received by that Lender under this Agreement.
Proportionate Sharing. Whenever any Lender receives or recovers (whether by way of set-off, banker's lien or otherwise) all or part of any amount due from any Borrower under any Transaction Document otherwise than by way of a distribution by the Facility Agent under this agreement or by the Security Agent under the Security, then:
(a) that Lender shall promptly pay the amount received or recovered to the Facility Agent; and
(b) that amount shall be deemed to have been a payment to the Facility Agent for the account of all the Lenders and not a payment to that Lender for its own account, and to that extent the liability of the relevant Borrower to that Lender shall not be reduced by that amount, other than to the extent of any distribution received by that Lender under this agreement.
Proportionate Sharing. (a) Whenever any Secured Creditor receives or recovers any money in respect of any sum due from the Issuing Trustee under a Secured Document in any way (including without limitation by set-off) except those referred to in clause 12.13 or through distribution by the Security Trustee under this Deed (the RECEIVED MONEYS) after the Charge has been enforced:
(1) the Secured Creditor must immediately notify the Security Trustee;
(2) the Secured Creditor must immediately pay that money to the Security Trustee (unless the Security Trustee directs otherwise). As between each Class A Noteholder, such payments (if any) are to be made pari passu and rateably;
(3) the Security Trustee must treat the payment as if it were a payment by the Issuing Trustee on account of all sums then payable to the Secured Creditors; and
(4) the payment or recovery will be taken to have been a payment for the account of the Security Trustee and not to the Secured Creditor for its own account, and to that extent the liability of the Issuing Trustee to the Secured Creditor will not be reduced by the recovery or payment, other than -------------------------------------------------------------------------------- page 37 Security Trust Deed - SMHL Global Fund [ ]-[ ] to the extent of any distribution received by the Secured Creditor under paragraph 12.14(a)(3); and
Proportionate Sharing. If the Noteholders determine by Resolution that the Company is unable to satisfy all outstanding obligations to all of the Noteholders and Optionholders in full on the due date or within any agreed grace period, then on and from that day (Determinate Date):
Proportionate Sharing. 68 36.1 Sharing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 36.2 Refusal to join in action . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 36.3 Sharing when Secured Financing or Bills repaid directly . . . . . . . . . . . . . . . . 68
Proportionate Sharing