Common use of Reversal of redistribution Clause in Contracts

Reversal of redistribution. If under Clause 29.1 (Redistribution): 29.2.1 a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Sources: Revolving Credit Facility Agreement (British American Tobacco p.l.c.), Revolving Credit Facility (British American Tobacco p.l.c.), Term Loan Agreement (British American Tobacco p.l.c.)

Reversal of redistribution. If under Clause 29.1 28.1 (Redistribution): 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 28.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Multicurrency Revolving Credit Facility (Scottish Power PLC), Multicurrency Revolving Credit Facility (Scottish Power PLC)

Reversal of redistribution. If under Clause 29.1 31.1 (Redistribution): 29.2.1 Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligora Borrower; and 29.2.2 and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1.5 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.. 31.3

Appears in 2 contracts

Sources: Credit Facility Agreement (Entergy London Capital Lp), Credit Facility Agreement (System Energy Resources Inc)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution):Redistribution):- 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1.5 30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Credit Facility Agreement (Azurix Corp), Credit Facility (Azurix Corp)

Reversal of redistribution. If under Clause 29.1 clause 30.2 (RedistributionRedistribution of payments): 29.2.1 30.4.1 a recovering Recovering Finance Party must subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligor; and 29.2.2 30.4.2 the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 clause 30.2 (Redistribution of payments) will operate in reverse to the extent of the reimbursementreimbursement (including the reversals of the assignments contemplated therein).

Appears in 2 contracts

Sources: Multicurrency Revolving Credit Agreement (Mercer International Inc), Revolving Credit Facility Agreement (Mercer International Inc.)

Reversal of redistribution. If under Clause 29.1 If: (Redistribution): 29.2.1 a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 33.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Supplemental Agreement (Trader Com Nv), Supplemental Agreement (Dunlop Standard Aerospace Holdings PLC)

Reversal of redistribution. If under Clause 29.1 28.1 (Redistribution): 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 28.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Revolving Credit Facility (Syngenta Ag), Term and Revolving Credit Facility (Powergen PLC)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution): 29.2.1 (a) a recovering Recovering Finance Party must subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligor; and 29.2.2 (b) the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Finance Party shall, within three Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co)

Reversal of redistribution. If under Clause 29.1 clause 27.1 (Redistribution): 29.2.1 (a) a recovering Recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recoveryRecovery, to an Obligorthe Borrower; and 29.2.2 (b) the recovering Recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three (3) Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party for all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1.5 clause 27.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Sources: Syndicated Loan Agreement (New Fortress Energy LLC), Syndicated Loan Agreement (NFE Financial Holdings LLC)

Reversal of redistribution. If under Clause 29.1 33.1 (Redistribution): 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 33.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Multicurrency Revolving Credit Facility Agreement (Scottish Power PLC)

Reversal of redistribution. If under Clause 29.1 If: (Redistribution): 29.2.1 a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 31.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Agreement (Getty Images Inc)

Reversal of redistribution. If under Clause 29.1 31.1 (Redistribution): 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 31.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Term and Revolving Credit Facility (Meggit PLC)

Reversal of redistribution. If under Clause 29.1 32.1 (Redistribution): 29.2.1 (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1.5 32.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (Waterford Wedgwood PLC)

Reversal of redistribution. If under Clause 29.1 (Redistribution): 29.2.1 Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1.5 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.. 29.3

Appears in 1 contract

Sources: Credit Agreement (Entergy Power Uk PLC)

Reversal of redistribution. If under Clause 29.1 If: (Redistribution): 29.2.1 a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1.5 33.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Sources: Credit Agreement (Getty Images Inc)

Reversal of redistribution. If under Clause 29.1 34.1 (Redistribution): 29.2.1 34.2.1 a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and 29.2.2 34.2.2 the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three (3) Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Party together with interest on the subrogation in Clause 29.1.5 will operate in reverse amount to be returned to the extent of recovering Finance Party for the reimbursementperiod whilst it held the re-distribution.

Appears in 1 contract

Sources: Multicurrency Bridge Facility Agreement