Common use of Return of Proceeds Clause in Contracts

Return of Proceeds. If after payment and distribution of any amount by Agent to Lenders, any Lender or any other Person, including a Borrower, any creditor of any Borrower, a liquidator, administrator or trustee in bankruptcy, recovers from Agent any amount found to have been wrongfully paid to Agent or disbursed by Agent to Lenders, then Lenders, in accordance with their respective Pro Rata Shares, shall reimburse Agent for all such amounts.

Appears in 2 contracts

Sources: Credit Agreement (Industrial Services of America Inc /Fl), Credit Agreement (Industrial Services of America Inc /Fl)