Ratable Benefit Sample Clauses

The Ratable Benefit clause defines how benefits, such as payments, credits, or reductions, are distributed proportionally among parties based on a predetermined formula or share. In practice, this means that if a benefit arises—such as a refund, rebate, or cost savings—it is allocated to each party in proportion to their respective contributions, investments, or usage levels. This clause ensures fairness and transparency by preventing any party from receiving more than their equitable share, thereby reducing disputes and aligning incentives among all involved.
Ratable Benefit. This Guaranty is for the ratable benefit of the Lenders, each of which shall share any proceeds of this Guaranty pursuant to the terms of the Credit Agreement.
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Ratable Benefit. This Guaranty is for the ratable benefit of each Guarantied Party, each of which shall share any proceeds of this Guaranty pursuant to the terms of Section 2.11(d) of the Loan Agreement.
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Ratable Benefit. All collateral from time to time securing the Obligations shall exist for the ratable benefit of the Lenders. The interest of each Lender in the collateral from time to time existing shall be pro rata according to each Lender's Pro Rata Share of the outstanding principal Obligations owing to the Lenders, but the interest of each Lender in the collateral shall rank equally in priority with the interest of each other Lender. Irrespective of the time, order or method of attachment or perfection of the Lien, and irrespective of anything contained in any filing or agreement to which any of the Lenders is a party, any Lien in favor of any of the Lenders in any of the collateral described in the Loan Documents which arises out of any prior or subsequent transaction shall be subordinate to the Lien in such collateral in favor of the Lenders under the Loan Documents.
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Ratable Benefit. The Collateral Agent shall hold the Collateral for the ratable benefit of the Secured Parties (in proportion to the principal amount of Notes held by each Secured Party). Distributions with regard to the Collateral (including any Proceeds) shall be made and applied to the Obligations as provided in Section 7.4 and this Section 8.3.
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Related to Ratable Benefit

  • Sole Benefit The rights and benefits set forth in this Agreement and the other Loan Documents are for the sole and exclusive benefit of the parties hereto and thereto and may be relied upon only by them.

  • Equal and Ratable Benefit The Loans and Commitments established pursuant to this paragraph shall constitute Loans and Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guarantees and security interests created by the Security Documents. The Loan Parties shall take any actions reasonably required by the Administrative Agent to ensure and/or demonstrate that the Lien and security interests granted by the Security Documents continue to be perfected under the UCC or otherwise after giving effect to the establishment of any such Class of Term Loans or any such new Commitments.

  • Secured Parties Each Secured Party that is not a party to the Credit Agreement who obtains the benefit of this Agreement shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Affiliates shall be entitled to all of the rights, benefits and immunities conferred under Article IX of the Credit Agreement.

  • Collateral Agent May Perform; Collateral Agent Appointed Attorney-in-Fact If any Pledgor shall fail to perform any covenants contained in this Agreement (including such Pledgor’s covenants to (i) pay the premiums in respect of all required insurance policies hereunder, (ii) pay and discharge any taxes, assessments and special assessments, levies, fees and governmental charges imposed upon or assessed against, and landlords’, carriers’, mechanics’, workmen’s, repairmen’s, laborers’, materialmen’s, suppliers’ and warehousemen’s Liens and other claims arising by operation of law against, all or any portion of the Pledged Collateral, (iii) make repairs, (iv) discharge Liens or (v) pay or perform any obligations of such Pledgor under any Pledged Collateral) or if any representation or warranty on the part of any Pledgor contained herein shall be breached, the Collateral Agent may (but shall not be obligated to) do the same or cause it to be done or remedy any such breach, and may expend funds for such purpose; provided, however, that the Collateral Agent shall in no event be bound to inquire into the validity of any tax, Lien, imposition or other obligation which such Pledgor fails to pay or perform as and when required hereby and which such Pledgor does not contest in accordance with the provisions of the Credit Agreement. Any and all amounts so expended by the Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 11.03 of the Credit Agreement. Neither the provisions of this Section 11.2 nor any action taken by the Collateral Agent pursuant to the provisions of this Section 11.2 shall prevent any such failure to observe any covenant contained in this Agreement nor any breach of representation or warranty from constituting an Event of Default. Each Pledgor hereby appoints the Collateral Agent its attorney-in-fact, with full power and authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time in the Collateral Agent’s discretion to take any action and to execute any instrument consistent with the terms of the Credit Agreement, this Agreement and the other Security Documents which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof (but the Collateral Agent shall not be obligated to and shall have no liability to such Pledgor or any third party for failure to so do or take action). The foregoing grant of authority is a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof.

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