Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery), then: (a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent; (b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments); (c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess; (d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and (e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 9 contracts
Sources: Facility Agreement (Liberty Global, Inc.), Credit Agreement (Unitedglobalcom Inc), Credit Agreement (Unitedglobalcom Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 31.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
Appears in 5 contracts
Sources: Syndicated Credit Facility Agreement (Gec Acquisition Corp), Syndicated Credit Facility Agreement (Gec Acquisition Corp), Syndicated Credit Facility (Gec Acquisition Corp)
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party Lender (the recovering Finance Party“Recovering Lender”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a “recovery”), then:
(a) the recovering Finance Party Lender shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party Lender would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 28.3 (Exceptions), the recovering Finance Party Lender shall, within three (3) Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 (Payments) this Agreement and shall pay the redistribution to the Finance Parties Lender (other than the recovering Finance PartyLender) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistributionredistribution to the Agent, the recovering Finance Party Lender will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party Lender a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 4 contracts
Sources: Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP)
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial paymentsPayments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 3 contracts
Sources: Loan Agreement, Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Syndicated Loan Facility (Anglogold Ashanti LTD), Credit Agreement (Adecco Sa)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a “recovery”), then:
(a) 29.1.1 the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) 29.1.2 the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) 29.1.3 subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) 29.1.4 the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 9.8 (Partial payments); and
(e) 29.1.5 after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) Clause 29.1.4 above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Revolving Credit Facility Agreement (British American Tobacco p.l.c.), Revolving Credit Facility (British American Tobacco p.l.c.)
Redistribution. If any amount owing by an Obligor a Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery - 71 - 74 been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three 5 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned relevant Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Revolving Credit Facility (S Acquisition Corp), Revolving Credit Facility (WDR Acquisition Corp)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering “Recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery“Recovery”), then:
(a) the recovering Recovering Finance Party shall, within three Business Days, notify details of the recovery Recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery Recovery is in excess of the amount which the recovering Recovering Finance Party would have received had the recovery Recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution“Redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution Redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution Redistribution to the Finance Parties (other than the recovering Recovering Finance Party) in accordance with Clause 9.7 10.8 (Partial payments); and
(e) after payment of the full redistributionRedistribution, the recovering Recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Recovering Finance Party a debt which is equal to the redistributionRedistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Credit Agreement (Spirent PLC), Revolving Credit Facility (Spirent PLC)
Redistribution. If any amount owing by an Obligor the Company under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility relevant Agent in accordance with Clause 9 12 (Payments) (a recovery"RECOVERY"), then:then:-
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Company under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Credit Facility Agreement (Azurix Corp), Credit Facility (Azurix Corp)
Redistribution. If any amount owing by an Obligor the Borrower under any the Finance Document Documents to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off (other than the transaction fees of the Account Bank) or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a “recovery”), then:
(a) 30.1.1 the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) 30.1.2 the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) 30.1.3 subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) 30.1.4 the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial paymentsPayments); and
(e) 30.1.5 after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, 30.1.4 above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 2 contracts
Sources: Senior Facility Agreement, Senior Facility Agreement (Century Aluminum Co)
Redistribution. If any amount owing by an Obligor a Borrower under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:then:-
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
; (b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
; (c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
; (d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor Borrower concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.6 (Partial payments); and
and (e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.. 31.2
Appears in 2 contracts
Sources: Credit Facility Agreement (Entergy London Capital Lp), Credit Facility Agreement (System Energy Resources Inc)
Redistribution. If any amount owing by an Obligor the Borrower under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 28.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor the Company under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:
(a) the relevant Finance Party (the "recovering Finance Party Party") shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (ExceptionsException), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Company under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Securitas Ab)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than in accordance with the provisions of Clause 3 or through the Facility Agent Security Trustee in accordance with Clause 9 (Payments) 12 (a recovery"RECOVERY"), then:then (subject, as between any Secured Parties, to any agreement between such Secured Parties):
(a) the recovering Finance Party (the "RECOVERING FINANCE PARTY") shall, within three 3 Business Days, notify details of the recovery to the Facility AgentSecurity Trustee;
(b) the Facility Agent Security Trustee shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received under the Security Document had the recovery been received by the Facility Agent Security Trustee and distributed in accordance with Clause 9 (Payments)12.15;
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Security Trustee pay to the Facility Agent Security Trustee an amount (the "redistribution") equal to the excess;
(d) the Facility Agent Security Trustee shall treat any such redistribution paid to the redistribution Security Trustee as if it were a payment by the Obligor concerned Obligors under Clause 9 (Payments) the Security Document and the Security Trustee shall pay the redistribution to the relevant Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments)12.15; and
(e) after payment of the full redistribution, the recovering Finance Party will shall be subrogated to the portion of the claims paid under paragraph clause (d) above, and that the relevant Obligor will shall owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance PartyRECOVERING FINANCE PARTY) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a recoveryRECOVERY), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 (Exceptions)32.3, the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistributionREDISTRIBUTION) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the that Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties 133 (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe owes the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:then:-
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering “Recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery“Recovery”), then:
(a) the recovering Recovering Finance Party shall, within three Business Days, notify details of the recovery Recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery Recovery is in excess of the amount which the recovering Recovering Finance Party would have received had the recovery Recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution“Redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution Redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution Redistribution to the Finance Parties (other than the recovering Recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistributionRedistribution, the recovering Recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Recovering Finance Party a debt which is equal to the redistributionRedistribution, immediately payable and of the type originally discharged.. Back to Contents
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the ”redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Facility Agreement (Spirent PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering “Recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery“Recovery”), then:
(a) the recovering Recovering Finance Party shall, within three Business Days, notify details of the recovery Recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery Recovery is in excess of the amount which the recovering Recovering Finance Party would have received had the recovery Recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution“Redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution Redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution Redistribution to the Finance Parties (other than the recovering Recovering Finance Party) in accordance with Clause 9.7 Clause9.8 (Partial payments)); and
(e) after payment of the full redistributionRedistribution, the recovering Recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Recovering Finance Party a debt which is equal to the redistributionRedistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: 5 Year Facility Agreement (Vodafone Group Public LTD Co)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Syndicated Credit Facility (Reuters Group PLC /Adr/)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) 12 (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments)12;
(c) subject to Clause 29.3 (Exceptions), 33.3 the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) 12 and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments)12.6; and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Credit Agreement (Getty Images Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 16 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 16 (Payments);
(c) subject to Clause 29.3 36.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 16 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 16.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Senior Secured Credit Facility (Liberty Global PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a “recovery”), then:then:-
(aA) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(bB) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(cC) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(dD) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(eE) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (dD) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Facility Agreement (Tomkins PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) 12 (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments)12;
(c) subject to Clause 29.3 (Exceptions), 33.3 the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) 12 and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments)12.6; and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Supplemental Agreement (Dunlop Standard Aerospace Holdings PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Revolving Credit Facility (Vodafone Group Public LTD Co)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 32.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Loan Agreement (Adecco Sa)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a "recovery"), then:: ________________________________________________________________________________ 60 ________________________________________________________________________________
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the that Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Scottish Power PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:then:-
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 32.3 (ExceptionsException), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial paymentsPayments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Facility (Cobe Laboratories Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Term and Revolving Credit Facility (Vodafone Group Public Limited Co)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance "RECOVERING FINANCE Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);; -------------------------------------------------------------------------------
(c) subject to Clause 29.3 30.3 (ExceptionsException), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial paymentsPayments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the relevant Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.8 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Facilities Agreement (Autoliv Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 32.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 14 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 14 (Payments);
(c) subject to Clause 29.3 33.3 (Exceptions), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 14 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 14.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Credit Facility Agreement (Rexam Acquisition Subsidiary Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a "recovery"), then:
(a) 29.1.1 the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) 29.1.2 the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) 29.1.3 subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) 29.1.4 the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 9.8 (Partial payments); and
(e) 29.1.5 after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) Clause 29.1.4 above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Term Loan Agreement (British American Tobacco p.l.c.)
Redistribution. If any amount owing by an Obligor a Borrower under any the Finance Document Documents to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:then:-
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor Borrower concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Senior Secured Credit Facility (United Pan Europe Communications Nv)
Redistribution. If any amount owing by an Obligor the Borrower under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three 3 (three) Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 13.1 (PaymentsPlace of payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 13.1 (PaymentsPlace of payments);
(c) subject to Clause 29.3 32.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 13 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 13.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged. -------------------------------------------------------------------------------- 66 -------------------------------------------------------------------------------- Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Revolving Advance and Letter of Credit Facility (Independent Energy Holdings PLC)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the an Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Syndicated Bridge Loan Facility (Anglogold Ashanti LTD)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 (Exceptions)32.3, the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will Borrower owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.. 116
Appears in 1 contract
Sources: Credit Agreement (Vivendi Universal)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 13 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 13 (Payments);
(c) subject to Clause 29.3 33.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 13 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 13.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Credit Agreement (Adecco Sa)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Supplemental Agreement (Spirent PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: 364 Day Facility Agreement (Vodafone Group Public LTD Co)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 32.3 (ExceptionsException), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Revolving Credit Facility Agreement (Waterford Wedgwood PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);; -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the that Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Scottish Power PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Syndicated Credit Facility Agreement (Reuters Group PLC)
Redistribution. If any amount owing by an Obligor the Borrower under any the Finance Document Documents to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three (3) Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three (3) Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility Agreement (Schneider Electric Sa)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 28.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an any Obligor under any the Finance Document Documents to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 11 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 (Exceptions)31.3, the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Obligors under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Cousin Acquisition Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a "recovery"), then:then:-
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
; (b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
; (c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
; (d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.6 (Partial payments); and
and (e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.. 29.2
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;; 48
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Syndicated Credit Facility Agreement (Reuters Group PLC /Adr/)
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-set- off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:then:-
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 (ExceptionsException), the recovering Finance Party shall, shall within three 3 Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor the Borrower under any the Finance Document Documents to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Term Loan Facility (Sonera Corp)
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 32.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Facility Agreement (Adecco Sa)
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Borrower under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial paymentsPayments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Credit Facility Agreement (Teekay LNG Partners L.P.)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:then:-
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 32.3 (ExceptionsException), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;; Back to Index
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: 3 Year Facility Agreement (Vodafone Group Public LTD Co)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent or the Swingline Agent in accordance with Clause 9 11 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility relevant Agent;
(b) the Facility that Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility that Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility relevant Agent, pay to the Facility that Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility relevant Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any Finance Document to a Finance Party (the recovering “Recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 (Payments) (a recovery“Recovery”), then:
(a) the recovering Recovering Finance Party shall, within three Business Days, notify details of the recovery Recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery Recovery is in excess of the amount which the recovering Recovering Finance Party would have received had the recovery Recovery been received by the Facility Agent and distributed in accordance with Clause 9 (Payments);
(c) subject to Clause 29.3 (Exceptions), the recovering Recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution“Redistribution”) equal to the excess;
(d) the Facility Agent shall treat the redistribution Redistribution as if it were a payment by the Obligor concerned under Clause 9 (Payments) and shall pay the redistribution Redistribution to the Finance Parties (other than the recovering Recovering Finance Party) in accordance with Clause 9.7 (Partial payments); and
(e) after payment of the full redistributionRedistribution, the recovering Recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Recovering Finance Party a debt which is equal to the redistributionRedistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor the Company under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 28.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Company under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Scottish Power PLC)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 10 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 10 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), Exception) the recovering Finance Party shall, within three 3 Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned under Clause 9 10 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 10.6 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Credit Agreement (Getty Images Inc)
Redistribution. If any amount owing by an Obligor under any Finance Document this Agreement to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor Borrower concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Redistribution. If any amount owing by an Obligor under any the Finance Document Documents to a Finance Party (the "recovering Finance Party") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a "recovery"), then:then:-
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the "redistribution") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the relevant Obligor concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that the relevant Obligor will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Facilities Agreement (Autoliv Inc)
Redistribution. If any amount owing by an Obligor the Company under any Finance Document this Agreement to a Finance Party (the recovering Finance Party) is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 15 (Payments) (a recovery), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 15 (Payments);
(c) subject to Clause 29.3 33.3 (ExceptionsException), the recovering Finance Party shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the redistribution) equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor concerned Company under Clause 9 15 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 15.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Company will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility Agreement (Scottish Power PLC)
Redistribution. If any amount owing by an Obligor a Borrower under any Finance Document this Agreement to a Finance Party (the recovering Finance Party"RECOVERING FINANCE PARTY") is discharged by payment, set-off or any other manner other than through the Facility Agent in accordance with Clause 9 12 (Payments) (a recovery"RECOVERY"), then:
(a) the recovering Finance Party shall, within three Business Days, notify details of the recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility Agent and distributed in accordance with Clause 9 12 (Payments);
(c) subject to Clause 29.3 31.3 (Exceptions), the recovering Finance Party shall, shall within three Business Days of demand by the Facility Agent, Agent pay to the Facility Agent an amount (the redistribution"REDISTRIBUTION") equal to the excess;
(d) the Facility Agent shall treat the redistribution as if it were a payment by the Obligor Borrower concerned under Clause 9 12 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 12.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, above and that Obligor Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: Multicurrency Revolving Credit Facility (Ti Group PLC)
Redistribution. If any amount owing by an Obligor the Borrower under any Finance Document this Agreement to a Finance Party (the “recovering Finance Party”) is discharged by payment, set-off or any other manner other than through the Facility Agent or the Swingline Agent in accordance with Clause 9 11 (Payments) (a “recovery”), then:
(a) the recovering Finance Party shall, within three 3 Business Days, notify details of the recovery to the Facility relevant Agent;; Back to Contents
(b) the Facility that Agent shall determine whether the recovery is in excess of the amount which the recovering Finance Party would have received had the recovery been received by the Facility that Agent and distributed in accordance with Clause 9 11 (Payments);
(c) subject to Clause 29.3 30.3 (Exceptions), the recovering Finance Party shall, within three 3 Business Days of demand by the Facility relevant Agent, pay to the Facility that Agent an amount (the “redistribution”) equal to the excess;
(d) the Facility relevant Agent shall treat the redistribution as if it were a payment by the Obligor Borrower concerned under Clause 9 11 (Payments) and shall pay the redistribution to the Finance Parties (other than the recovering Finance Party) in accordance with Clause 9.7 11.7 (Partial payments); and
(e) after payment of the full redistribution, the recovering Finance Party will be subrogated to the portion of the claims paid under paragraph (d) above, and that Obligor the Borrower will owe the recovering Finance Party a debt which is equal to the redistribution, immediately payable and of the type originally discharged.
Appears in 1 contract
Sources: 364 Day Multi Currency Revolving Credit With Term Out Option (National Grid Transco PLC)