Common use of Ratable Sharing Clause in Contracts

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 14 contracts

Sources: Credit Agreement (Ameriprise Financial Inc), Amendment and Restatement and Additional Term Loan Assumption Agreement (Skilled Healthcare Group, Inc.), Credit Agreement (Ameriprise Financial Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 6 contracts

Sources: Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. 10.1B or 10.1C. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 5 contracts

Sources: Credit Agreement (Propex International Holdings II Inc.), Credit Agreement (Ruths Hospitality Group, Inc.), Credit Agreement (Propex Fabrics Inc.)

Ratable Sharing. Subject to Sections 20.4 and 20.5, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers’ lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers’ lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrowers agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrowers in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 5 contracts

Sources: Secured Loan Agreement, Secured Loan Agreement (Sentio Healthcare Properties Inc), Secured Loan Agreement (Sentio Healthcare Properties Inc)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of, premium, if any, or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.17 shall not be construed to apply to (1A) any payment made by Company the Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans to any Eligible Assignee assignee or Participant pursuant Participant, other than to subsection 10.1B. Company expressly the Borrowers or any of the Restricted Subsidiaries (as to which the provisions of this Section shall apply). Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Second Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), Second Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), Second Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Purchaser shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any Purchased Receivable or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive other obligations hereunder resulting in such Purchaser receiving payment or reduction of a proportion of the aggregate amount payable under any Purchased Receivable to such Purchaser greater than its Asset Interest would warrant as provided herein, then such Purchaser receiving such greater proportion shall (a) notify the Administrative Agent of principalsuch fact, interest, amounts payable and (b) purchase (for cash) participations in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents Purchasers’ Asset Interests (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender not in respect excess of the Aggregate Amounts Due to applicable Purchase Price thereof), or make such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all Lenders the Purchasers ratably in proportion to accordance with the Aggregate Amounts Due aggregate amount owing to them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section shall not be construed to apply to (1A) any payment made by Company a Seller pursuant to and in accordance with the express terms of this Agreement hereof, or (2B) any payment obtained by a Lender Purchaser as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Purchased Receivables to any Eligible Assignee assignee or Participant participant including, without limitation, any assignments effectuated pursuant to subsection 10.1B. Company expressly Section 2.1(c). Each Seller consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable Law, that any purchaser of an assignment so purchased Purchaser acquiring a participation pursuant to the foregoing arrangements may exercise any and all against such Seller rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that Lender had complied with such Purchaser were a direct creditor of such Seller in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Master Accounts Receivable Purchase Agreement (Caci International Inc /De/), Master Accounts Receivable Purchase Agreement (CSRA Inc.), Master Accounts Receivable Purchase Agreement (Computer Sciences Government Services Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of, premium, if any, or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.17 shall not be construed to apply to (1A) any payment made by Company the Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans or participations in Letters of Credit to any Eligible Assignee assignee or Participant pursuant Participant, other than to subsection 10.1B. Company expressly the Borrowers or any of the Restricted Subsidiaries (as to which the provisions of this Section shall apply). Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Bank shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any Purchased Receivable or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive other obligations hereunder resulting in such Bank receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” any Purchased Receivable to such Lender) that is Bank greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender Bank receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent of such fact, and each (b) purchase (for cash) participations in the other Lender Banks’ Pro Rata Shares of the receipt Purchased Receivable (not in excess of the applicable Purchase Price thereof), or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all Lenders the Banks ratably in proportion to accordance with the Aggregate Amounts Due aggregate amount owing to them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 7.7 shall not be construed to apply to (1A) any payment made by the Company pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Bank), or (2B) any payment obtained by a Lender Bank as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Purchased Receivables to any Eligible Assignee assignee or Participant pursuant participant, other than to subsection 10.1B. Company expressly any Facility Party (as to which the provisions of this Section shall apply). Each Facility Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Bank acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Facility Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that Lender had complied with such Bank were a direct creditor of each Facility Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Master Accounts Receivable Purchase Agreement, Master Accounts Receivable Purchase Agreement (Scotts Miracle-Gro Co), Master Accounts Receivable Purchase Agreement (Scotts Miracle-Gro Co)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 4 contracts

Sources: Credit Agreement (Dictaphone Corp /De), Credit Agreement (Atlas Air Inc), Credit Agreement (Atlas Air Inc)

Ratable Sharing. Subject to SECTIONS 11.3 and 11.4, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided PROVIDED, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents SECTION 11.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Credit Agreement (Chelsea Gca Realty Inc), Term Loan Agreement (Chelsea Gca Realty Inc), Term Loan Agreement (Chelsea Gca Realty Partnership Lp)

Ratable Sharing. Subject to Sections 11.03 and 11.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Obligations, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, set-off, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 11.14 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 12.04, the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Credit Agreement (Manufactured Home Communities Inc), Term Loan Agreement (Manufactured Home Communities Inc), Credit Agreement (Manufactured Home Communities Inc)

Ratable Sharing. Subject to Sections 11.3 and 11.4, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 11.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 4 contracts

Sources: Term Loan Agreement (Chelsea Property Group Inc), Credit Agreement (CPG Partners Lp), Credit Agreement (Chelsea Property Group Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 2.03(g), 3.03, 3.04, 4.01(f), 4.02(f) and 4.03), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their applicable Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in Sections 2.03(g), 3.03, 3.04, 4.01(f), 4.02(f) and 4.03 or the Collateral), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, set-off, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 13.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 13.05, the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 3 contracts

Sources: Credit Agreement (Foamex Capital Corp), Credit Agreement (Foamex Capital Corp), Credit Agreement (Foamex Capital Corp)

Ratable Sharing. Lenders Banks hereby agree among themselves that that, except as otherwise provided in the Collateral Documents with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-set off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender such Bank hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such LenderBank) that which is greater than the proportion received by any other Lender Bank in respect of the Aggregate Amounts Due to such other LenderBank, then the Lender Bank receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender Bank of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders Banks so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Banks in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender Bank is thereafter recovered from such Lender Bank upon the bankruptcy or reorganization of Company such Borrower or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender Bank ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. Each Borrower expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set off or counterclaim with respect to such assignment any and all monies owing by each Borrower to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 3 contracts

Sources: Credit and Guaranty Agreement (Xerium Technologies Inc), Credit and Guaranty Agreement (Xerium Technologies Inc), Credit and Guaranty Agreement (Xerium Technologies Inc)

Ratable Sharing. Lenders Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made Notes purchased and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-set off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender such Holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” to such LenderHolder) that which is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender Holder of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments Notes (which it shall be deemed to have purchased from each seller of an assignment a Note simultaneously upon the receipt by such seller of its portion of such payment) of in the ratable Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of Company the Issuer or otherwise, those purchases to that extent shall be rescinded and the purchase prices paid for such assignments Notes shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. The Issuer expressly consents to the foregoing arrangement and agrees that any purchaser Holder of an assignment a Note so purchased may exercise any and all rights of a Lender as banker’s lien, set off or counterclaim with respect to such assignment any and all monies owing by the Issuer to that Holder with respect thereto as fully as if that Lender had complied with Holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderNote held by that Holder.

Appears in 3 contracts

Sources: Note Purchase Agreement (Energy & Exploration Partners, Inc.), Note Purchase Agreement (Energy & Exploration Partners, Inc.), Note Purchase Agreement (Energy & Exploration Partners, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the amounts described in Section 5.2(f) and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their applicable Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the amounts described in Section 5.2(f) and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their applicable Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 3 contracts

Sources: Term Loan Agreement (Washington Prime Group, L.P.), Term Loan Agreement (Washington Prime Group, L.P.), Term Loan Agreement (WP Glimcher Inc.)

Ratable Sharing. Lenders hereby Subject to the last sentence of this Section 10.05, the Banks agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of them shallprincipal of or interest on the Syndicated Loans and amounts payable in respect of the facility fees, equitable adjustment will be made so that, in effect, all such amounts will be shared among the Banks proportionately to their respective pro rata Shares whether received by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Syndicated Loans, (ii) if any of them shall exercise any right of counterclaim, setoff, banker's lien or similar right with respect to amounts owed by any Borrower hereunder or under the Loan Documents Syndicated Loans, then the Bank shall apportion the amount recovered as a result of the exercise of such right in accordance with each Bank's pro rata Share, and (iii) if any of them shall thereby through the exercise of any right of counterclaim, set off, banker's lien or otherwise, otherwise or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalprincipal and interest due with respect to the Syndicated Loans held by the Bank, interestor any amount payable hereunder, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender holder of the Syndicated Loans in respect of the Aggregate Amounts Due aggregate amount of principal and interest due with respect to such other Lenderthe Syndicated Loans held by it, or any amount payable hereunder, then the Lender Bank receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, payments shall (iy) notify each other Bank and the Administrative Agent and each other Lender of the receipt of such payment receipt and (iiz) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to Syndicated Loans held by the other Lenders holders so that all such recoveries of Aggregate Amounts Due principal and interest with respect to the Syndicated Loans shall be shared by all Lenders in proportion proportionate to the Aggregate Amounts Due to them; their pro rata Shares provided that (A) that, if all or part of such proportionately greater payment received by such purchasing Lender holder is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseholder, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that holder to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. Each Borrower expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation in any such Syndicated Loan so purchased and any other subsequent holder of a participation in any Syndicated Loan otherwise acquired may exercise any and all rights of a Lender as banker's lien, set off or counterclaim with respect to any and all moneys owing by such assignment Borrower to that holder as fully as if that Lender had complied with holder were a holder of such Syndicated Loan in the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions participation held by that holder. Notwithstanding the foregoing, upon the occurrence and during the continuance of a Potential Event of Default or an Event of Default, the ratable sharing arrangements set forth above)in this Section 10.05 shall be based on each Bank's pro rata share of all Syndicated Loans outstanding at such time, rather than on each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderBank's pro rata Share.

Appears in 3 contracts

Sources: 364 Day Credit Agreement (Textron Inc), Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for including the assignment (other than an assignment pursuant to this subsection 10.5) application of or funds arising from the sale existence of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth aboveDefaulting Lender), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 3 contracts

Sources: Credit Agreement (Ferroglobe PLC), Credit Agreement (Globe Specialty Metals Inc), Credit Agreement (Hexcel Corp /De/)

Ratable Sharing. Subject to Sections 25.4 and 25.5, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers’ lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers’ lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 3 contracts

Sources: Construction Loan Agreement, Construction Loan Agreement (Dupont Fabros Technology, Inc.), Construction Loan Agreement (Republic Property Trust)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 3 contracts

Sources: Credit Agreement (FTD Group, Inc.), Credit Agreement (FTD Inc), Credit Agreement (FTD Group, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 15.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 3 contracts

Sources: Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/)

Ratable Sharing. Lenders hereby agree among themselves that that, except as otherwise provided in Section 2.16(h), if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon securitypayment, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 3 contracts

Sources: Third Lien Loan and Guaranty Agreement (Reliant Pharmaceuticals, Inc.), Second Lien Loan and Guaranty Agreement (Reliant Pharmaceuticals, Inc.), Third Lien Loan and Guaranty Agreement (Reliant Pharmaceuticals, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit -105- 113 treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative the Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. The Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by the Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Revolving Credit Agreement (America West Airlines Inc), Revolving Credit Agreement (America West Airlines Inc)

Ratable Sharing. Lenders hereby agree among themselves that Subject to Section 10.6(b)(B)(v) and (ix), if any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent in writing of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.14 shall not be construed to apply to (1A) any payment made by Company the Borrower pursuant to and in accordance with the express terms of this Agreement Agreement, or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans to any Eligible Assignee assignee or Participant Participant, other than to the Borrower or any of its Subsidiaries (other than pursuant to subsection 10.1B. Company expressly Section 10.6(d)), as to which the provisions of this Section shall apply. Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: First Lien Credit and Guaranty Agreement (Airbnb, Inc.), First Lien Credit and Guaranty Agreement (Airbnb, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the costs, fees and other payments described in Sections 5.2(f), and 5.3, Article XIII and Section 14.1) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the costs, fees and other payments described in Sections 5.2(f), and 5.3, Article XIII and Section 14.1), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Term Loan Agreement (Reckson Associates Realty Corp), Term Loan Agreement (Reckson Associates Realty Corp)

Ratable Sharing. Lenders Subject to the terms of the Intercreditor Agreement, the Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans the Notes made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender Holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” to such LenderHolder) that is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Collateral Agent and each other Lender Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 10.21) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note(s) pursuant to subsection 10.1B. Section 10.2. The Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender Holder as to such assignment as fully as if that Lender Holder had complied with the provisions of subsection 10.1B Section 10.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender Holder and each selling Lender Holder agree to enter into an Assignment Agreement comply with the provisions of Section 10.2 at the request of a selling Lender Holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderHolder.

Appears in 2 contracts

Sources: Third Lien Subordinated Exchange Note Exchange Agreement (Manchester Financial Group, LP), Third Lien Subordinated Exchange Note Exchange Agreement (Navation, Inc.)

Ratable Sharing. Subject to Section 9.03 and 9.04, upon the occurrence of an Event of Default, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrowers agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 9.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrowers in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 2 contracts

Sources: Credit Agreement (Black Hawk Gaming & Development Co Inc), Credit Agreement (Primadonna Resorts Inc)

Ratable Sharing. Lenders hereby each agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of counterclaim, set-off off, banker's lien or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, otherwise or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, principal and interest then due with respect to the Revolving Credit Loans and the amounts payable in respect of the Letters of CreditCredit held by that Lender, fees and other or amounts then due and owing to that Lender in respect of facility fees or commitment fees hereunder or under the other Loan Documents (collectively, the "Aggregate Amounts Due" to such Lender) that ), which is greater than the proportion received by any other Lender in respect of to the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (iy) notify Administrative Agent and each other Lender of the receipt and Agent of such payment receipt and (iiz) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided PROVIDED that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseLender, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing that Lender ratably to the extent of such recovery, but without interest interest. Each of Holding and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B banker's lien, set-off or counterclaim with respect to such assignment. In order any and all monies owing by Holding or Company to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderthat holder.

Appears in 2 contracts

Sources: Credit Agreement (Nu Kote Holding Inc /De/), Credit Agreement (Nu Kote Holding Inc /De/)

Ratable Sharing. Lenders hereby Subject to the last sentence of this Section 10.05, each Bank and each subsequent holder by acceptance of a Revolving Note or a Syndicated Loan agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of them shallprincipal of or interest on the Syndicated Loans and Revolving Notes and amounts payable in respect of the facility fees, equitable adjustment will be made so that, in effect, all such amounts will be shared among the Banks proportionately to their respective pro rata Shares whether received by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Revolving Notes and Syndicated Loans, (ii) if any of them shall exercise any right of counterclaim, setoff, banker's lien or similar right with respect to amounts owed by any Borrower hereunder or under the Loan Documents Revolving Notes or otherwisethe Syndicated Loans, then the Bank or holder, as the case may be, shall apportion the amount recovered as a result of the exercise of such right in accordance with each Bank's pro rata Share, and (iii) if any of them shall thereby through the exercise of any right of counterclaim, set off, banker's lien or otherwise or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalprincipal and interest due with respect to the Revolving Notes or Syndicated Loans held by the Bank or holder, interest, amounts or any amount payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender holder of the Revolving Notes or Syndicated Loans in respect of the Aggregate Amounts Due aggregate amount of principal and interest due with respect to such other Lenderthe Revolving Notes or Syndicated Loans held by it, or any amount payable hereunder, then the Lender Bank or that holder of the Revolving Notes or Syndicated Loans receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, payments shall (iy) notify each other Bank and the Administrative Agent and each other Lender of the receipt of such payment receipt and (iiz) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to Revolving Notes or Syndicated Loans held by the other Lenders holders so that all such recoveries of Aggregate Amounts Due principal and interest with respect to the Revolving Notes or Syndicated Loans shall be shared by all Lenders in proportion proportionate to the Aggregate Amounts Due to them; their pro rata Shares provided that (A) that, if all or part of such proportionately greater payment received by such purchasing Lender holder is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseholder, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that holder to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. Each Borrower expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation in any such Revolving Note or Syndicated Loan so purchased and any other subsequent holder of a participation in any Revolving Note or Syndicated Loan otherwise acquired may exercise any and all rights of a Lender as banker's lien, set off or counterclaim with respect to any and all moneys owing by such assignment Borrower to that holder as fully as if that Lender had complied with holder were a holder of such Revolving Note or Syndicated Loan in the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions participation held by that holder. Notwithstanding the foregoing, upon the occurrence and during the continuance of a Potential Event of Default or an Event of Default, the ratable sharing arrangements set forth above)in this Section 10.05 shall be based on each Bank's pro rata share of all Loans outstanding at such time, rather than on each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderBank's pro rata Share.

Appears in 2 contracts

Sources: Credit Agreement (Textron Inc), 364 Day Credit Agreement (Textron Inc)

Ratable Sharing. Subject to Sections 2.07, the Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Agreement Obligations (excluding amounts payable under this Agreement which are determined on a non-pro-rata basis, including, without limitation, amounts payable under Sections 2.02(c), 2.05(b), 2.09(d), 2.10, 2.11, 2.14, 11.03 and 11.04), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Agreement Obligations (excluding amounts payable under this Agreement which are determined on a non-pro-rata basis, including, without limitation, amounts payable under Sections 2.02(c), 2.05(b), 2.09(d), 2.10, 2.11, 2.14, 11.03 and 11.04) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Agreement Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due payments on account of the Agreement Obligations (excluding the fees described or referred to such other Lenderin Section 2.05), then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment been done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Agreement Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Agreement Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 11.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (American Classic Voyages Co), Credit Agreement (American Classic Voyages Co)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company any Credit Party or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. Each Borrower expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by any Borrower to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Credit Agreement (Northland Cable Properties Six LTD Partnership), Credit Agreement (Northland Cable Properties Six LTD Partnership)

Ratable Sharing. Lenders The Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans the Notes made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender Holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” to such LenderHolder) that is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Collateral Agent and each other Lender Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 10.21) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note pursuant to subsection 10.1B. Section 10.2. The Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender Holder as to such assignment as fully as if that Lender Holder had complied with the provisions of subsection 10.1B Section 10.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender Holder and each selling Lender Holder agree to enter into an Assignment Agreement comply with the provisions of Section 10.2 at the request of a selling Lender Holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderHolder.

Appears in 2 contracts

Sources: Purchase Agreement (NextWave Wireless Inc.), Note Purchase Agreement (NextWave Wireless Inc.)

Ratable Sharing. Lenders hereby agree among themselves that Subject to Section 10.6(b)(v) and (ix), if any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent in writing of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.14 shall not be construed to apply to (1A) any payment made by Company the Borrower pursuant to and in accordance with the express terms of this Agreement Agreement, or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans to any Eligible Assignee assignee or Participant Participant, other than to the Borrower or any of its Restricted Subsidiaries (other than pursuant to subsection 10.1B. Company expressly Section 10.6(d)), as to which the provisions of this Section shall apply. Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Restructuring Support Agreement (2U, Inc.), Debt and Guaranty Agreement (2U, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. 10.1C. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (Panolam Industries International Inc), Credit Agreement (Panolam Industries International Inc)

Ratable Sharing. Lenders Subject to the terms of the Intercreditor Agreement, the Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans the Notes made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender Holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” to such LenderHolder) that is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Collateral Agent and each other Lender Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of Company Parent Issuer or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company Parent Issuer pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 10.21) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note(s) pursuant to subsection 10.1B. Company Section 10.2. Parent Issuer expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender Holder as to such assignment as fully as if that Lender Holder had complied with the provisions of subsection 10.1B Section 10.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender Holder and each selling Lender Holder agree to enter into an Assignment Agreement comply with the provisions of Section 10.2 at the request of a selling Lender Holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderHolder.

Appears in 2 contracts

Sources: Third Lien Subordinated Exchange Note Exchange Agreement (Manchester Financial Group, LP), Third Lien Subordinated Exchange Note Exchange Agreement (Navation, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent in writing of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.14 shall not be construed to apply to (1A) any payment made by Company the Borrower pursuant to and in accordance with the express terms of this Agreement Agreement, or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans to any Eligible Assignee assignee or Participant Participant, other than to the Borrower or any of its Subsidiaries (other than pursuant to subsection 10.1B. Company expressly Section 10.6(d)), as to which the provisions of this Section shall apply. Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Second Lien Credit and Guaranty Agreement (Airbnb, Inc.), Second Lien Credit and Guaranty Agreement (Airbnb, Inc.)

Ratable Sharing. Lenders Subject to the terms of the Intercreditor Agreement, the Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans the Notes made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s bankers lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender Holder hereunder or under the other Loan Note Documents (collectively, the Aggregate Amounts Due” Due to such LenderHolder) that is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Collateral Agent and each other Lender Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 10.21) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note(s) pursuant to subsection 10.1B. Section 10.2. The Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender Holder as to such assignment as fully as if that Lender Holder had complied with the provisions of subsection 10.1B Section 10.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender Holder and each selling Lender Holder agree to enter into an Assignment Agreement comply with the provisions of Section 10.2 at the request of a selling Lender Holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderHolder.

Appears in 2 contracts

Sources: Second Lien Subordinated Note Purchase Agreement (NextWave Wireless Inc.), Third Lien Subordinated Exchange Note Exchange Agreement (NextWave Wireless Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their applicable Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their applicable Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Revolving Credit and Term Loan Agreement (Washington Prime Group, L.P.), Revolving Credit and Term Loan Agreement (Washington Prime Group, L.P.)

Ratable Sharing. Lenders hereby agree among themselves that that, except as otherwise provided herein or in the Collateral Documents with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-off set‑off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents Credit Documents, or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than such Lender would be entitled pursuant to this Agreement (after giving effect to the proportion received by any other Lender in respect priority of payments determining application of payments to the Aggregate Amounts Due to such other LenderClass A Lenders and the Class B Lenders, respectively), then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent, Paying Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all the recovery of such recoveries of Aggregate Amounts Due shall be shared by all the applicable Lenders in proportion to the Aggregate Amounts Due to themthem pursuant to this Agreement; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, setoff or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Credit Agreement (On Deck Capital, Inc.), Credit Agreement (On Deck Capital, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Aa) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest interest, and (Bb) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (IntraLinks Holdings, Inc.), Credit Agreement (IntraLinks Holdings, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that that, except as otherwise provided in Sections 2.14(a) and (b), if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon securitypayment, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy CodeCode or any other applicable legislation, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender in its capacity as a Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify the Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderinterest.

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (Euramax International, Inc.), Credit and Guaranty Agreement (Euramax International, Inc.)

Ratable Sharing. Subject to Sections 10.03 and 10.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Obligations, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, set-off, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 10.12 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 11.04, the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (Manufactured Home Communities Inc), Term Loan Credit Agreement (Manufactured Home Communities Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (including, without limitation, amounts applied to the Obligations under Section 15.05, but excluding the fees described in Section 5.03 and Article XIV), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in Section 5.03 and Article XIV) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Each Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 15.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to such assignment. In order to further evidence Borrower in the amount of such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (Freedom Chemical Co), Credit Agreement (Freedom Chemical Co)

Ratable Sharing. Lenders hereby agree among themselves that Subject to Section 10.6(b)(v) and (ix), if any of them Lender shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any principal of or as adequate protection interest on any of a deposit treated as cash collateral under the Bankruptcy Code, receive its Loans or other obligations hereunder resulting in such Lender receiving payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees its Loans and accrued interest thereon or other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is obligations greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lenderits Pro Rata Share thereof as provided herein, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, proportion shall (ia) notify the Administrative Agent in writing of such fact, and each (b) purchase (for cash at face value) participations in the Loans and such other Lender obligations of the receipt of other Lenders, or make such payment and (ii) apply a portion of such payment to purchase assignments (which it other adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all the Lenders ratably in proportion to accordance with the Aggregate Amounts Due to aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section 2.14 shall not be construed to apply to (1A) any payment made by Company the Borrower pursuant to and in accordance with the express terms of this Agreement Agreement, or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Loans to any Eligible Assignee assignee or Participant Participant, other than to the Borrower or any of its Restricted Subsidiaries (other than pursuant to subsection 10.1B. Company expressly Section 10.6(d)), as to which the provisions of this Section shall apply. Each Credit Party consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable law, that any purchaser of an assignment so purchased Lender acquiring a participation pursuant to the foregoing arrangements may exercise any and all against each Credit Party rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that such Lender had complied with were a direct creditor of each Credit Party in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (2U, Inc.), Term Loan Credit and Guaranty Agreement (2U, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement (including pursuant to the Back-Stop Arrangements) or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. subsections 10.1B and 10.1C. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the "Aggregate Amounts Due" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Credit Agreement (Players International Inc /Nv/), Credit Agreement (Players International Inc /Nv/)

Ratable Sharing. Subject to Sections 14.4 and 14.5, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers' lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers' lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Loan Agreement (Windrose Medical Properties Trust), Loan Agreement (Windrose Medical Properties Trust)

Ratable Sharing. Lenders hereby agree among themselves that that, except as otherwise provided in Section 2.16(h) , if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon securitypayment, through the exercise of any right of set-set off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (Reliant Pharmaceuticals, Inc.), Credit and Guaranty Agreement (Reliant Pharmaceuticals, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their applicable Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the repayment of Money Market Loans to a particular Money Market Lender and the fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their applicable Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Revolving Credit and Term Loan Agreement (Washington Prime Group Inc.), Revolving Credit and Term Loan Agreement (Washington Prime Group Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash Cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required or permitted by the terms of this Agreement, (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Ai) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bii) the foregoing provisions shall not apply to (1A) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5Section 9.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Section 9.1(b). Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender ▇▇▇▇▇▇ had complied with the provisions of subsection 10.1B Section 9.1(b) with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (U.S. Silica Holdings, Inc.), Credit Agreement (U.S. Silica Holdings, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash Cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required or permitted by the terms of this Agreement, (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Ai) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bii) the foregoing provisions shall not apply to (1A) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5Section 9.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Section 9.1(b). Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B Section 9.1(b) with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (U.S. Silica Holdings, Inc.), Credit Agreement (U.S. Silica Holdings, Inc.)

Ratable Sharing. Subject to Sections 13.4 and 13.5, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers' lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers' lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Loans held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Loan Agreement (Winthrop Realty Trust), Loan Agreement (Newkirk Master Lp)

Ratable Sharing. Lenders The Holders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans the Notes made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender Holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such LenderHolder) that is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Collateral Agent and each other Lender Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 10.21) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note pursuant to subsection 10.1B. Section 10.2. The Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender Holder as to such assignment as fully as if that Lender Holder had complied with the provisions of subsection 10.1B Section 10.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender Holder and each selling Lender Holder agree to enter into an Assignment Agreement comply with the provisions of Section 10.2 at the request of a selling Lender Holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such LenderHolder.

Appears in 2 contracts

Sources: Purchase Agreement (NextWave Wireless LLC), Purchase Agreement (NextWave Wireless LLC)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash Cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Aa) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bb) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Credit Agreement (United Online Inc), Credit Agreement (United Online Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Section 5.03 and Article XIV), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in Section 5.03 and Article XIV) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrowers agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 15.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrowers in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (Fairchild Corp), Credit Agreement (Banner Aerospace Inc)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Aa) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bb) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: First Lien Credit Agreement (SafeNet Holding Corp), First Lien Credit Agreement (SafeNet Holding Corp)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 3.03, 3.04 and 4.01(e)) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees and amounts described in Sections 3.03, 3.04 and 4.01(e)) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Each Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 13.08 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 13.07, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to such assignment. In order to further evidence Borrower in the amount of such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (General Inspection Laboratories Inc), Credit Agreement (General Inspection Laboratories Inc)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Aa) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bb) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 2 contracts

Sources: Second Lien Credit Agreement (SafeNet Holding Corp), Second Lien Credit Agreement (SafeNet Holding Corp)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the repayment of Competitive Bid Loans to a particular Competitive Bid Lender and the costs, fees and other payments described in Sections 3.1(g), 5.2(f), and 5.3, Article XIII and Section 14.1) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the repayment of Competitive Bid Loans to a particular Competitive Bid Lender and the costs, fees and other payments described in Sections 3.1(g), 5.2(f), and 5.3, Article XIII and Section 14.1), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 2 contracts

Sources: Credit Agreement (Reckson Operating Partnership Lp), Revolving Credit Agreement (Reckson Associates Realty Corp)

Ratable Sharing. Subject to Section 9.03 and 9.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 9.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrower in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 2 contracts

Sources: Credit Agreement (Monarch Casino & Resort Inc), Credit Agreement (Monarch Casino & Resort Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative the Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. The Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by the Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 2 contracts

Sources: Revolving Credit Agreement (America West Holdings Corp), Term Loan Agreement (America West Holdings Corp)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the ``Aggregate Amounts Due'' to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Credit Agreement (Granite Broadcasting Corp)

Ratable Sharing. Subject to Sections 13.4 and 13.5, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers’ lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers’ lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Loan Agreement (First Union Real Estate Equity & Mortgage Investments)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 1 contract

Sources: Credit Agreement (PRA International)

Ratable Sharing. The Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify the Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company the Borrower or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.assignments

Appears in 1 contract

Sources: Credit Agreement (Jones Financial Companies LLLP)

Ratable Sharing. The Lenders hereby agree among themselves them selves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in SECTIONS 3.01(g), 5.02 and ARTICLE XIV), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in SECTIONS 3.01(g), 5.02 and ARTICLE XIV) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obliga tions held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided PROVIDED, HOWEVER, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations 148 shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents SECTION 15.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to SECTION 15.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Aviation Sales Co)

Ratable Sharing. Subject to Section 10.03 and 10.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrowers agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 10.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrowers in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 1 contract

Sources: Credit Agreement (Ameristar Casinos Inc)

Ratable Sharing. The Lenders hereby agree among themselves that that, except as otherwise provided in the Collateral Documents with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents Credit Documents, or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Codeany Insolvency Legislation, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other such Lender in respect of the Aggregate Amounts Due would be entitled pursuant to such other Lenderthis Agreement, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative the Facility Agent, the Verification Agent and each other Lender the Class B Agent of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all the recovery of such recoveries of Aggregate Amounts Due shall be shared by all the applicable Lenders in proportion to the Aggregate Amounts Due to themthem pursuant to this Agreement; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.such

Appears in 1 contract

Sources: Fifth Amended and Restated Credit Agreement (CURO Group Holdings Corp.)

Ratable Sharing. Subject to Sections 11.04 and 11.05, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Loan, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Percentages, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s bankers' lien, by counterclaim or cross action or by the enforcement of any right under or all of the Loan Documents or any collateral and (ii) if any of them shall by voluntary payment or by the exercise of any right of counterclaim, set-off, bankers' lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that held by it which is greater than the proportion received by any other Lender in respect its Percentage of the Aggregate Amounts Due to such other Lenderpayments on account of the Loan, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Percentages; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of set-off) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to Borrower in the amount of such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Secured Revolving Credit Agreement (Windrose Medical Properties Trust)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the ``Aggregate Amounts Due'' to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Credit Agreement (Clark Refining & Marketing Inc)

Ratable Sharing. Subject to Sections 2.03(a)(ii), --------------- 2.03(c)(i)(B) and 2.07(b), the Lenders hereby agree among themselves that (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Section 2.05, but including, without limitation, all amounts received by Citibank in respect of its Revolving Loans pursuant to Section 2.07(a)), equitable adjustment will be made so that, in effect, all such amounts will be shared among them ratably in proportion to the respective principal amounts of the Loans then outstanding to each Lender (or if any no Loans are outstanding, ratably according to the respective amount of them shalleach Lender's Commitment of all Lenders' Commitments), whether received by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Obligations (excluding the fees described in Section 2.05) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than its ratable share, determined in proportion to the proportion received by any other Lender in respect respective principal amounts of the Aggregate Amounts Due Loans then outstanding to such other each Lender (or if no Loans are outstanding, ratably according to the respective amount of each Lender's Commitment of all Lender Commitments), then of the Lender payments on account of the Obligations (excluding the fees described in Section 2.05), the one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obliga tions owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due respective principal amounts of the Loans then outstanding to themeach Lender (or if no Loans are outstanding, ratably according to the respective amount of each Lender's Commitment of all Lender Commitments); provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Each Borrowing Subsidiary agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 11.07 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 11.06, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to such assignment. In order to further evidence Borrowing Subsidiary in the amount of such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Facility Agreement (JPS Textile Group Inc /De/)

Ratable Sharing. The Lenders hereby agree among themselves that that, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwiseotherwise (including amounts received by any such Lender in excess of those received by other Lenders as a result of the application of article 91.7 of the Spanish Insolvency Law -Law 22/2003 of 9th July), or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees interest and other amounts then due and owing to that such Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify the Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided provided, that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company the Borrower or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) interest. The Borrower expressly consents to the foregoing arrangement and agrees that any holder of a participation so purchased may exercise any and all rights of banker’s lien, set-off or counterclaim with respect to any and all monies owing by the Borrower to that holder with respect thereto as fully as if that holder were owed the amount of the participation held by that holder. The provisions of this Section 2.13 shall not be construed to apply to (1i) any payment made by Company the Borrower pursuant to and in accordance with the express terms of this Agreement or payments made as set forth in Section 2.11, (2ii) any payment obtained by a any Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Loans or other Obligations owed to any Eligible Assignee it or Participant pursuant (iii) to subsection 10.1B. Company expressly consents to those amounts that, whether as principal and/or interest, are not received by the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of Lenders whose credits are considered subordinated as a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness result of the assignment provisions set forth aboveapplication of articles 92.5 and 93 of the Spanish Insolvency Law (Law 22/2003 of 9th July), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Grifols SA)

Ratable Sharing. The Lenders hereby agree among themselves that if any --------------- (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 3.1(g) and 5.3 and Article XIV), equitable adjustment will be --------------- --- ----------- made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross- action or by the enforcement of any or all of the Obligations (excluding the fees described in Sections -------- 3.1(g), 5.2(f), and 5.3 and Article XIV) or the Collateral, (ii) if ------ ------ --- ----------- any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received -------- ------- by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.6 may, ------------ to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 15.5, the right of setoff) with ------------ respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (American Eco Corp)

Ratable Sharing. Subject to Section 9.03 and 9.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate 92 amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest except to the extent the purchasing party is required to pay interest in connection with such recovery. Borrowers and (B) the foregoing provisions shall not apply to (1) Guarantor agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 9.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrowers and Guarantor in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 1 contract

Sources: Credit Agreement (Century Casinos)

Ratable Sharing. Lenders hereby agree among themselves that that, except as otherwise provided in Section 8.3 with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Company or any Borrower or otherwise (and whether as a result of any demand, settlement, litigation or otherwise), those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest interest; provided, further, that, notwithstanding the foregoing, no Canadian Lender shall be required to apply such payments to U.S. Obligations and (B) no U.S. Lender shall be required to apply such payments to Canadian Obligations. Each of the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company Borrowers expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set-off or counterclaim with respect to such assignment any and all monies owing by the any Borrower to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each participation held by that holder directly by such LenderBorrower.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Easton-Bell Sports, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that (i) with --------------- respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 5.2(f) and 5.3 and -------------- Article XIII) equitable adjustment will be made so that, in effect, all such ------------ amounts will be shared among them ratably in accordance with their Pro Rata Shares, whether received by voluntary payment, by the exercise of the right of setoff or banker's lien, by counterclaim or crossaction or by the enforcement of any or all of the Obligations (excluding the amounts described in Sections -------- 5.2(f) and 5.3 and Article XIII), (ii) if any of them shall, whether shall by voluntary payment -------------- ------------ or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or counterclaim, setoff, banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents 's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment -------- ------- received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, ------------- exercise any and all its rights of a Lender as payment (including, subject to Section 15.5, the ------------ right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Revolving Credit Agreement (General Growth Properties Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the repayment of Competitive Bid Loans to a particular Competitive Bid Lender and the costs and fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the repayment of Competitive Bid Loans to a particular Competitive Bid Lender and the costs and fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest except to the extent the purchasing party is required to pay interest in connection with such recovery. The Borrower and (B) the foregoing provisions shall not apply to (1) RMOP each agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing LenderBorrower and/or RMOP, as the case may be, in form and substance reasonably satisfactory to each the amount of such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Reckson Associates Realty Corp)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) provided, if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (AvidXchange Holdings, Inc.)

Ratable Sharing. The Lenders hereby and the Issuing Banks agree among themselves that if that, except as otherwise expressly provided in any Loan Document, (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding (x) the fees described in Sections 2.04(g), 3.03, 3.04, 4.01(f) and 4.02 and (y) any amounts to received in respect of Currency Agreements and/or Interest Rate Contracts) equitable adjustment shall be made so that, in effect, all such amounts shall be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of such Obligations (excluding the payments described in Sections 2.04(g), 3.03, 3.04, 4.01(f) and 4.02) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participation shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Each Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 13.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 13.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to such assignment. In order to further evidence Borrower in the amount of such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Insilco Corp/De/)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Section 4.03 and Article XIII), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the fees described in Sections 4.03 and Article XIII) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Dyncorp)

Ratable Sharing. Subject to Section 10.03 and 10.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 10.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrower in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 1 contract

Sources: Construction and Reducing Revolving Credit Agreement (Monarch Casino & Resort Inc)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the costs and fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the costs and fees described in Sections 3.1(g), 5.2(f), and 5.3 and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Reckson Services Industries Inc)

Ratable Sharing. The Lenders hereby and the Issuing Banks agree among themselves that, except as otherwise expressly provided in any Loan Document, (i) with respect to all amounts received by them that if are applicable to the payment of the Obligations (excluding (x) the fees described in Sections 2.04(g), 3.03, 3.04, 4.01(f) and 4.02 and (y) any amounts so received in respect of Currency Agreements and/or Interest Rate Contracts) equitable adjustment shall be made so that, in effect, all such amounts shall be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Aggregate Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s 's lien, by counterclaim or cross cross-action or by the enforcement of any or all of such Obligations (excluding the fees described in Sections 2.04(g), 3.03, 3.04, 4.01(f) and 4.02) or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) Obligations held by it that is greater than the proportion received by any other amount that such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the accordance with their Aggregate Amounts Due to themPro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participation shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Each of the Borrowers agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 13.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 13.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrowers in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Hexcel Corp /De/)

Ratable Sharing. Subject to Sections 2.05(c) and 2.06(b), the Lenders hereby agree among themselves that if any (a) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described or referred to in Section 2.04), equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Obligations (excluding the fees described or referred to in Section 2.03) or the Collateral, (b) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due payments on account of the Obligations (excluding the fees described or referred to such other Lenderin Section 2.03), then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 12.07 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 12.06, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Anntaylor Inc)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-set off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that such Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided provided, that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Financing Agreement (Model N, Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash Cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required or permitted by the terms of this Agreement, (ia) notify Administrative Agent and each other Lender of the receipt of such payment and (iib) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (Ai) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (Bii) the foregoing provisions shall not apply to (1A) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2B) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5Section 9.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Section 9.1(b). Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B Section 9.1(b) with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.

Appears in 1 contract

Sources: Credit Agreement (U.S. Silica Holdings, Inc.)

Ratable Sharing. The Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE") to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative the Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided PROVIDED that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company Borrower or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company interest. The Borrowers expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by the Borrowers to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Revolving Credit Agreement (Alpha Industries Inc)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the "Aggregate Amounts Due" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments partici pations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. interest. Company expressly consents to the foregoing arrangement and agrees that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker's lien, set-off or counterclaim with respect to such assignment any and all monies owing by Company to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Credit Agreement (Clark Refining & Marketing Inc)

Ratable Sharing. Subject to Sections 3.8 and 11.3 of this Agreement and unless otherwise specifically stated herein, the Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their pro rata shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-set off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any or all of the Obligations or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under of counterclaim, set-off, banker's lien or otherwise (all of which rights are expressly acknowledged by the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy CodeBorrower), receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that obligations held by it which is greater than the proportion received by any other Lender in respect its pro rata share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such obligations owed to the other Lenders so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their pro rata shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participation shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or Section 12.2 may, to the sale of a participation in any fullest extent permitted by law, exercise all of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Full Circle Capital Corp)

Ratable Sharing. Lenders The holders hereby agree among themselves that if any of them shall, shall receive (whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Note Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code), receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender holder hereunder or under the other Loan Note Documents (collectively, the “Aggregate Amounts Due” to such Lenderholder) that is greater than the proportion received by any other Lender holder in respect of the Aggregate Amounts Due to such other Lenderholder, then the Lender holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative the Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders holders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender holder is thereafter recovered from such Lender holder upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company or any Guarantor pursuant to and in accordance with the express terms of this Agreement the Note Documents or (2) any payment obtained by a Lender holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this subsection 10.5Section 14.4) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant Note pursuant to subsection 10.1B. Section 13.2. The Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender holder as to such assignment as fully as if that Lender holder had complied with the provisions of subsection 10.1B Section 13.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender holder and each selling Lender holder agree to enter into an Assignment Agreement comply with the provisions of Section 13.2 at the request of a selling Lender holder or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderholder.

Appears in 1 contract

Sources: Note Purchase Agreement (PQ Group Holdings Inc.)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, Agreement (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. subsections 10.1B and 10.1C. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.. Table of Contents

Appears in 1 contract

Sources: Credit Agreement (Urs Corp /New/)

Ratable Sharing. The Lenders hereby agree among themselves them- selves that (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Section 5.03 and Article XIV), equitable adjustment will be made so that, in effect, all such amounts will be shared among them ratably in accordance with their Pro Rata Shares, whether received by voluntary payment, by the exercise of the right of setoff or banker's lien, by counterclaim or cross- action or by the enforce-ment of any or all of the Obligations (excluding the fees described in Section 5.03 and Article XIV) or the Collateral, (ii) if any of them shall, whether shall by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or counterclaim, setoff, banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents 's lien or otherwise, or as adequate protection receive payment of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion propor-tion of the aggregate amount of principalthe Obliga-tions held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided inter-est and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obliga- tions owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such purchasing Lender the purchas-ing party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 15.06 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 15.05, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrower in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Credit Agreement (Fairchild Corp)

Ratable Sharing. Subject to Sections 11.03 and 11.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. Borrower agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 11.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrower in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent.

Appears in 1 contract

Sources: Credit Agreement (Prudential Bache Equitec Real Estate Partnership)

Ratable Sharing. Subject to Section 10.03 and 10.04, Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations, equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their Pro Rata Shares, whether received by realization upon security, through the exercise of any right of set-off or banker’s lienvoluntary payment, by counterclaim or cross action or by the enforcement of any or all of the Obligations, or the Collateral, (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that Obligations held by it which is greater than the proportion received by any other Lender in respect its Pro Rata Share of the Aggregate Amounts Due to such other Lenderpayments on account of the Obligations, then the Lender one receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably that party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. ▇▇▇▇▇▇▇▇ agrees that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 10.13 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with Borrower in the amount of such participation. No Lender shall exercise any setoff, banker's lien or other similar right in respect to such assignment. In order to further evidence such assignment (and any Obligations without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderprior written approval by Agent Bank.

Appears in 1 contract

Sources: Credit Agreement (Century Casinos Inc /Co/)

Ratable Sharing. Lenders Holders hereby agree among themselves that that, except as otherwise provided in the Collateral Documents with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any of them shall, whether by voluntary or mandatory payment (other than a payment or voluntary prepayment of Loans Notes made and applied in accordance with the terms of this Agreementhereof), by realization upon security, through the exercise of any right of set-set off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender such Holder hereunder or under the other Loan Credit Documents (collectively, the “Aggregate Amounts Due” to such LenderHolder) that which is greater than the proportion received by any other Lender Holder in respect of the Aggregate Amounts Due to such other LenderHolder, then the Lender Holder receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (iA) notify Administrative Note Agent and each other Lender Holder of the receipt of such payment and (iiB) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders Holders in proportion to the Aggregate Amounts Due to them; provided that provided, (Ax) if all or part of such proportionately greater payment received by such purchasing Lender Holder is thereafter recovered from such Lender Holder upon the bankruptcy or reorganization of Company any Co-Issuer or otherwise, those purchases to that extent shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender Holder ratably to the extent of such recovery, but without interest and (By) the foregoing provisions of this Section 2.15 shall not be construed to apply to (1) any payment made by Company Co-Issuers pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender Holder from any transferee, assignee or participant as consideration for the transfer, assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Notes to such transferee, assignee or participant, other than to any Eligible Assignee Credit Party or Participant pursuant any Subsidiaries thereof (as to subsection 10.1B. Company which the provisions of this Section 2.15 shall apply). Co-Issuers expressly consents consent to the foregoing arrangement and agrees agree that any purchaser holder of an assignment a participation so purchased may exercise any and all rights of a Lender as banker’s lien, set-off or counterclaim with respect to such assignment any and all monies owing by any Co-Issuer to that holder with respect thereto as fully as if that Lender had complied with holder were owed the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness amount of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation held by that holder.

Appears in 1 contract

Sources: Third Lien Note Purchase Agreement (Vonage Holdings Corp)

Ratable Sharing. Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lender.other

Appears in 1 contract

Sources: Credit Agreement (Ameriprise Financial Inc)

Ratable Sharing. Lenders hereby agree among themselves that (except as otherwise specifically provided with respect to Swing Line Loans) if any of them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement)payment, by realization upon security, through the exercise of any right of set-off or banker’s 's lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents hereunder or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” "AGGREGATE AMOUNTS DUE" to such Lender) that which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, shall (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participations (which it shall be deemed to have purchased from each seller of an assignment a participation simultaneously upon the receipt by such seller of its portion of such payment) of in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided PROVIDED that (A) if all or part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or DFFI or Solvest or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderinterest.

Appears in 1 contract

Sources: Credit Agreement (Dole Food Company Inc)

Ratable Sharing. Lenders hereby agree among themselves that if If any of them Purchaser shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of exercising any right of set-off setoff or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents or otherwise, obtain payment in respect of any Purchased Receivable or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive other obligations hereunder resulting in such Purchaser receiving payment or reduction of a proportion of the aggregate amount payable under any Purchased Receivable to such Purchaser greater than its Asset Interest would warrant as provided herein, then such Purchaser receiving such greater proportion shall (a) notify the Administrative Agent of principalsuch fact, interest, amounts payable and (b) purchase (for cash) participations in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents Purchasers’ Asset Interests (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender not in respect excess of the Aggregate Amounts Due to applicable Purchase Price thereof), or make such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify Administrative Agent and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it adjustments as shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other Lenders equitable, so that the benefit of all such recoveries of Aggregate Amounts Due payments shall be shared by all Lenders the Purchasers ratably in proportion to accordance with the Aggregate Amounts Due aggregate amount owing to them; provided that provided: (Ai) if any such participations are purchased and all or part any portion of the payment giving rise thereto is recovered, such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwise, those purchases participations shall be rescinded and the purchase prices paid for such assignments shall be returned to such purchasing Lender ratably price restored to the extent of such recovery, but without interest interest; and (Bii) the foregoing provisions of this Section shall not be construed to apply to (1A) any payment made by Company a Seller pursuant to and in accordance with the express terms of this Agreement hereof, or (2B) any payment obtained by a Lender Purchaser as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations Purchased Receivables to any Eligible Assignee assignee or Participant participant including, without limitation, any assignments effectuated pursuant to subsection 10.1B. Company expressly Section 2.1(c). Each Seller consents to the foregoing arrangement and agrees agrees, to the extent it may effectively do so under applicable Law, that any purchaser of an assignment so purchased Purchaser acquiring a participation pursuant to the foregoing arrangements may exercise any and all against such Seller rights of a Lender as setoff and counterclaim with respect to such assignment participation as fully as if that Lender had complied with such Purchaser were a direct creditor of such Seller in the provisions amount of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Master Accounts Receivable Purchase Agreement

Ratable Sharing. The Lenders hereby agree among themselves that (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the fees described in Sections 3.1(g), 2.13, 2.16 and 2.17) equitable adjustment will be made so that, in effect, all such amounts will be shared among them ratably in accordance with their Pro Rata Shares, whether received by voluntary payment, by the exercise of the right of setoff or banker's lien, by counterclaim or crossaction or by the enforcement of any or all of the Obligations (excluding the fees described in Sections 3.1(g), 2.13, 2.16 and 2.17), (ii) if any of them shall, whether shall by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or counterclaim, setoff, banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Loan Documents 's lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon 71 79 the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders so others that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest except to the extent the purchasing party is required to pay interest in connection with such recovery. Each Borrower and (B) the foregoing provisions shall not apply to (1) Guarantor agrees that, except as otherwise expressly provided herein, any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 9.12 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions direct creditor of subsection 10.1B with respect to such assignment. In order to further evidence Borrower in the amount of such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust)

Ratable Sharing. The Lenders hereby agree among themselves that if any (i) with respect to all amounts received by them which are applicable to the payment of the Obligations (excluding the amounts described in Section 5.2(f) and Article XIII) equitable adjustment will be made so that, in effect, all such amounts will be shared among them shall, whether by voluntary or mandatory payment (other than a payment or prepayment of Loans made and applied ratably in accordance with the terms of this Agreement)their applicable Pro Rata Shares, whether received by voluntary payment, by realization upon security, through the exercise of any the right of set-off setoff or banker’s lien, by counterclaim or cross cross-action or by the enforcement of any or all of the Obligations (excluding the amounts described in Section 5.2(f) and Article XIII), (ii) if any of them shall by voluntary payment or by the exercise of any right under the Loan Documents of counterclaim, setoff, banker’s lien or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principalthe Obligations held by it, interest, amounts payable in respect of Letters of Credit, fees and other amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that which is greater than the proportion received by any other amount which such Lender in respect of the Aggregate Amounts Due is entitled to such other Lenderreceive hereunder, then the Lender receiving such proportionately greater excess payment shallshall purchase, unless such proportionately greater payment is required by the terms of this Agreementwithout recourse or warranty, (i) notify Administrative Agent an undivided interest and each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments participation (which it shall be deemed to have purchased from each seller of an assignment done simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due in such Obligations owed to the other Lenders others so that all such recoveries of Aggregate Amounts Due with respect to such Obligations shall be shared by all Lenders applied ratably in proportion to the Aggregate Amounts Due to themaccordance with their applicable Pro Rata Shares; provided provided, however, that (A) if all or part of such proportionately greater excess payment received by such the purchasing Lender party is thereafter recovered from such Lender upon the bankruptcy or reorganization of Company or otherwiseit, those purchases shall be rescinded and the purchase prices paid for such assignments participations shall be returned to such purchasing Lender ratably party to the extent of necessary to adjust for such recovery, but without interest and (B) except to the foregoing provisions shall not apply extent the purchasing party is required to (1) pay interest in connection with such recovery. The Borrowers agree that any payment made by Company pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by Lender so purchasing a participation from another Lender as consideration for the assignment (other than an assignment pursuant to this subsection 10.5) of or the sale of a participation in any of its Obligations to any Eligible Assignee or Participant pursuant to subsection 10.1B. Company expressly consents Section 14.6 may, to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may fullest extent permitted by law, exercise any and all its rights of a Lender as payment (including, subject to Section 14.5, the right of setoff) with respect to such assignment participation as fully as if that such Lender had complied with were the provisions of subsection 10.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness direct creditor of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at Borrowers in the request amount of a selling Lender or a purchasing Lender, as the case may be, in form and substance reasonably satisfactory to each such Lenderparticipation.

Appears in 1 contract

Sources: Senior Secured Term Loan Agreement (Washington Prime Group, L.P.)