Common use of Sharing Provision in New Borrower Mortgage Amendments Clause in Contracts

Sharing Provision in New Borrower Mortgage Amendments. The Administrative Agent, the Canadian Administrative Agent and the Borrower, on behalf of itself and its Subsidiaries, hereby agree that the New Borrower Mortgage Amendments shall include an amendment to the "SECOND" paragraph of Section 4.4 thereof to provide that the proceeds applied pursuant to such paragraph shall be applied as follows: (i) prior to the date upon which each of the Overadvance and the Canadian Overadvance are each reduced to $0 (such date, the "Adjustment Date") (A) to the Administrative Agent, to be distributed to the Domestic Facility Secured Parties in accordance with the Credit Agreement, in an aggregate amount equal to the product of (1) the U.S. Pro Rata Percentage as of the date hereof times (2) such amount and (B) to the Canadian Administrative Agent, to be distributed to the Canadian Facility Secured Parties in accordance with the Canadian Credit Agreement, in an aggregate amount equal to the product of (1) the Canadian Pro Rata Percentage as of the date hereof times (2) such amount and to be further distributed by the Administrative Agent or Canadian Administrative Agent (as applicable) as required pursuant to the terms of the Credit Agreement or the Canadian Credit Agreement (as applicable) and (ii) on or after the Adjustment Date (A) to the Administrative Agent, to be distributed to the Domestic Facility Secured Parties in accordance with the Credit Agreement, in an aggregate amount equal to the product of (1) the U.S. Pro Rata Percentage as of the Adjustment Date times (2) such amount and (B) to the Canadian Administrative Agent, to be distributed to the Canadian Facility Secured Parties in accordance with the Canadian Credit Agreement, in an aggregate amount equal to the product of (1) the Canadian Pro Rata Percentage as of the Adjustment Date times (2) such amount and to be further distributed by the Administrative Agent or Canadian Administrative Agent (as applicable) as required pursuant to the terms of the Credit Agreement or the Canadian Credit Agreement (as applicable)). For purposes of this Section, except as set forth herein, all capitalized terms used herein without definition shall have the meanings assigned thereto in the applicable New Borrower Mortgage.

Appears in 2 contracts

Sources: Eighth Amendment and Waiver (AbitibiBowater Inc.), Credit Agreement (Bowater Inc)