Contributing Obligor definition
Examples of Contributing Obligor in a sentence
Any Contributing Obligor making any payment to a Claiming Obligor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Obligor under Section 6.01 to the extent of such payment.
The “Allocable Share” of a Contributing Obligor is a fraction, the numerator of which is such Contributing Obligor’s Loan Obligation Limit at the time the applicable Loan Obligation Payment is made and the denominator of which is the sum of the Loan Obligation Limits of all of the Contributing Obligor (plus a similarly computed amount for any Guarantor which has a similar obligation to make a contribution) as of such time.
To the extent that Reseller or any Guarantor makes a payment on any of the Loan Obligations (a “Loan Obligation Payment”), Reseller or such Guarantor (the “Entitled Obligor”) is entitled to contribution and indemnification from, and reimbursement by, each other Reseller (a “Contributing Obligor”) in the amount of the Contribution Obligation of such Contributing Obligor hereunder.
Contributing Obligor" has the meaning ascribed thereto in Sections 3.3, 3.4 and 3.5.
The allocation among Contributing Obligors of their obligations as set forth in this Section 9.14(c) shall not be construed in any way to limit the liability of any Contributing Obligor under any Loan Document.
The “ALLOCABLE SHARE” of a Contributing Obligor is a fraction, the numerator of which is such Contributing Obligor’s Loan Obligation Limit at the time the applicable Loan Obligation Payment is made and the denominator of which is the sum of the Loan Obligation Limits of all of the Contributing Obligor (plus a similarly computed amount for any Guarantor which has a similar obligation to make a contribution) as of such time.
Any Contributing Obligor making any payment to a Claiming Obligor pursuant to this Section 5.02 shall be subrogated to the rights of such Claiming Obligor under Section 5.01 to the extent of such payment.
To the extent that Reseller or any Guarantor makes a payment on any of the Loan Obligations (a “LOAN OBLIGATION PAYMENT”), Reseller or such Guarantor (the “ENTITLED OBLIGOR”) is entitled to contribution and indemnification from, and reimbursement by, each other Reseller (a “CONTRIBUTING OBLIGOR”) in the amount of the Contribution Obligation of such Contributing Obligor hereunder.