Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 16 contracts
Samples: 000 Credit Agreement (Juno Lighting Inc), Credit Agreement (Neighborcare Inc), Credit Agreement (Dimon Inc)
Adjustments; Set-off. (a) Each Lender agrees Except to the extent that this Agreement provides for payments to be allocated to the Lenders under a particular Facility, if any Lender (a "benefited Benefitted Lender") shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansLoans or the Reimbursement Obligations owing to such other Lender, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoan and/or of the Reimbursement Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 15 contracts
Samples: Credit Agreement (Conmed Corp), Credit Agreement (Nebraska Book Co), Credit Agreement (Nebraska Book Co)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 13 contracts
Samples: Credit Agreement (Orthofix International N V), Credit Agreement (Consolidated Graphics Inc /Tx/), Credit Agreement (Orthofix International N V)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 10 contracts
Samples: Credit Agreement (Hyatt Hotels Corp), Credit Agreement (Hyatt Hotels Corp), Credit Agreement (Hyatt Hotels Corp)
Adjustments; Set-off. (a) Each Lender agrees Except to the extent that this Agreement provides for payments to be allocated to the Lenders under a particular Facility, if any Lender (a "benefited Benefitted Lender") shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansLoans or the Reimbursement Obligations owing to such other Lender, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans and/or of the Reimbursement Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 9 contracts
Samples: Credit Agreement (Campfire Inc), Credit Agreement (Omniamerica Inc), Credit Agreement (Lin Television Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Committed Rate Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (e) of Section 7.1(e)6, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Committed Rate Loans, or interest thereonthereon (except as expressly provided in subsection 2.18), such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Committed Rate Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans Committed Rate Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 7 contracts
Samples: Agreement (Wyeth), Credit Agreement (Wyeth), Credit Agreement (American Home Products Corp)
Adjustments; Set-off. (a) Each Lender agrees that Except as otherwise expressly provided herein, if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 7.1(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Loans or the Reimbursement Obligations owing to it, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans or the Reimbursement Obligations owing to it, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 6 contracts
Samples: Credit Agreement (Kenexa Corp), Credit Agreement (Kenexa Corp), Credit Agreement (Kenexa Corp)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Bank (a "benefited Lender"“benefitted Bank”) shall at any time receive any payment of all or part of its LoansLoans then payable, or interest then payable thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other LenderBank, if any, in respect of such other Lender's LoansBank’s Loans then payable, or interest then payable thereon, such benefited Lender benefitted Bank shall purchase for cash from the other Lenders a participating interest in Banks such portion of each such other Lender's LoanBank’s Loans or such interest thereon, or shall provide such other Lenders Banks with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender benefitted Bank to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersBanks; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lenderbenefitted Bank, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender Bank so purchasing a portion of another Lender's Bank’s Loans or interest thereon may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Bank were the direct holder of such portion.
Appears in 5 contracts
Samples: Credit Agreement (Western Union CO), Credit Agreement (Western Union CO), Credit Agreement (First Data Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 5 contracts
Samples: Credit Agreement (Ims Health Inc), Credit Agreement (Ims Health Inc), Credit Agreement (Si International Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its LoansRatable Share of the Loan, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1(a)(viii), or otherwiseotherwise including pursuant to subsection (b) below), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Ratable Share of the Loan, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans ’s Ratable Share of the Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 5 contracts
Samples: Loan Agreement, Loan Agreement (Hilton Worldwide Holdings Inc.), Loan Agreement (Empire State Building Associates L.L.C.)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited LenderBENEFITED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 4 contracts
Samples: Credit Agreement (Medvest Holdings Corp), Credit Agreement (TTM Technologies Inc), Credit Agreement (TTM Technologies Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender member of a Purchaser Group (a "benefited Lender"“Benefited Purchaser Group”) shall at any time receive any payment of all or part in respect of its LoansPurchaser Group Invested Amount any distribution of principal, interest, Commitment Fees or any interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), off or otherwise) in a greater proportion than any such payment to or collateral distribution received by any other LenderPurchaser Group, if any, in respect of such other Lender's LoansPurchaser Group’s Purchaser Group Invested Amount, or interest thereon, such benefited Lender Benefited Purchaser Group shall purchase for cash from the other Lenders a participating interest in Purchaser Group such portion of each such other Lender's LoanPurchaser Group’s interest in the Series 2010-6 Notes, or shall provide such other Lenders Purchaser Group with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefited Purchaser Group to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lendersother Purchaser Group; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefited Purchaser Group, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower ABRCF agrees that each Lender any Purchaser Group so purchasing a portion of another Lender's Loans Purchaser Group’s Purchaser Group Invested Amount may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Purchaser Group were the direct holder of such portion.
Appears in 4 contracts
Samples: Avis Budget Group, Inc., Avis Budget Group, Inc., Avis Budget Group, Inc.
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Credit Parties agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 4 contracts
Samples: First Lien Credit Agreement (GateHouse Media, Inc.), Bridge Credit Agreement (GateHouse Media, Inc.), Credit Agreement (GateHouse Media, Inc.)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e11(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 4 contracts
Samples: Credit Agreement (Unidigital Inc), Pledge Agreement (Denali Inc), Credit Agreement (Armor Holdings Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Dollar Tree Stores Inc), Credit Agreement (Dollar Tree Stores Inc), Credit Agreement (Suiza Foods Corp)
Adjustments; Set-off. (a) Each Except to the extent that this Agreement or a court order expressly provides for payments to be allocated to a particular Lender agrees that or to the Lenders under a particular Facility, if any Lender (a "benefited “Benefited Lender"”) shall shall, at any time after the Loans and other amounts payable hereunder shall immediately become due and payable pursuant to Section 7 receive any payment of all or part of its Loans, or interest thereonthe Obligations owing to it (other than in connection with an assignment made pursuant to Section 10.6), or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Synopsys Inc), Guarantee Agreement (Synopsys Inc), Credit Agreement (Synopsys Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “benefitted Lender"”) shall at any time receive any payment of all or part of its Loans, or its participations in Letters of Credit, or interest thereon, or fees, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e)7.1(g) or 8.8, or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, its participation in Letters of Credit, or interest thereon, or fees, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans or fees, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans or its participation in Letters of Credit may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.), Credit Agreement (J2 Global, Inc.)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Florida Rock Industries Inc), Credit Agreement (International Speedway Corp), Credit Agreement (Florida Rock Industries Inc)
Adjustments; Set-off. (a) Each Lender agrees Except to the extent that this Agreement provides for payments to be allocated to the Lenders under a particular Facility, if any Lender (a "benefited LenderBENEFITTED LENDER") shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansLoans or the Reimbursement Obligations owing to such other Lender, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoan and/or of the Reimbursement Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, PROVIDED that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Axiohm Transaction Solutions Inc), Credit Agreement (Dardel Technologies E U R L), Credit Agreement (Axiohm Transaction Solutions Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its LoansLoans or Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in paragraph (5) of Section 7.1(e)9 hereof, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, Lender in respect of such other Lender's Loans’s Loans or Reimbursement Obligations owing to it, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, ’s Loans or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereofReimbursement Obligations owing to it, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans or Reimbursement Obligations owing to it may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (M I Homes Inc), Credit Agreement (M I Homes Inc), Credit Agreement (M I Homes Inc)
Adjustments; Set-off. (a) Each Lender agrees that Except as otherwise expressly set forth in this Agreement (including subsections 4.23, 4.24 and 11.6), if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of any of its Loans, Term Loans or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9(f), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's ’s Term Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, ’s Term Loans or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's ’s Term Loans may exercise all rights of payment (including, without limitation, including rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion. The Administrative Agent shall promptly give the Borrower Agent notice of any set-off, provided that the failure to give such notice shall not affect the validity of such set-off.
Appears in 3 contracts
Samples: Credit Agreement (Cumulus Media Inc), Credit Agreement (Cumulus Media Inc), Credit Agreement (Cumulus Media Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “Benefited Lender") ”), shall at any time receive any payment of all or any part of its Loans, Loans or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1(h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of such other Lender's Loans, ’s Loans or interest thereon, such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's Loan, or ’s Loans and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Secured Term Loan Agreement (New Plan Excel Realty Trust Inc), Secured Term Loan Agreement (New Plan Excel Realty Trust Inc), Secured Term Loan Agreement (New Plan Excel Realty Trust Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its LoansTerm Loan, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Term Loan, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Term Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans ’s Term Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Pep Boys Manny Moe & Jack), Credit Agreement (Pep Boys Manny Moe & Jack), Credit Agreement (Pep Boys Manny Moe & Jack)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender or Transferee (a "benefited benefitted Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1(h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of such other Lender's Loans, or interest thereonthereon (other than payments of principal or interest in respect of Competitive Bid Loans when no Default or Event of Default exists), such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, including rights of set-off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Cleco Utility Group Inc), Day Credit Agreement (Cleco Utility Group Inc), Credit Agreement (Cleco Utility Group Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Dollar Tree Inc), Credit Agreement (Dollar Tree Stores Inc), Credit Agreement (Dollar Tree Stores Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its LoansCommitment Percentage of the Loan, or interest thereon, or receive any collateral Collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(f), or otherwise) in a greater proportion than any such payment to or collateral Collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Commitment Percentage of the Loan, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Commitment Percentage of the Loan, or shall provide such other Lenders with the benefits of any such collateralCollateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral Collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans ’s Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Term Loan Facility Agreement (Royal Gold Inc), Term Loan Facility Agreement (Royal Gold Inc), Term Loan Facility Agreement (Royal Gold Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Henry Jack & Associates Inc), Credit Agreement (Henry Jack & Associates Inc), Credit Agreement (West Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 3 contracts
Samples: Credit Agreement (Belden Inc.), Credit Agreement (Belden CDT Inc.), Credit Agreement (American Pacific Corp)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or any part of its Loans, Loans or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1(h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of such other Lender's Loans, Loans or interest thereon, such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's Loan, or Loans and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (New Plan Excel Realty Trust Inc), Credit Agreement (New Plan Excel Realty Trust Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “Benefited Lender") ”), shall at any time receive any payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-set off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1(h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans, or and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-set off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Term Loan Agreement (New Plan Excel Realty Trust Inc), Term Loan Agreement (New Plan Excel Realty Trust Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender or Transferee (a "benefited “benefitted Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans ’s Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited --------- Lender") shall at any time receive any payment of all or part of ------ its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such -------- ------- excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Day Credit Agreement (Graybar Electric Co Inc), Five Year Credit Agreement (Graybar Electric Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-set off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-set off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Lionbridge Technologies Inc /De/), Credit Agreement (Lionbridge Technologies Inc /De/)
Adjustments; Set-off. (a) Each Except to the extent that this Agreement provides for payments to be allocated to a particular Lender agrees that or to the Lenders under a particular Facility, if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereonthe Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) or any proceeds from Collateral (whether pursuant to the exercise of the rights of any Secured Party under the Security Agreements or under law or otherwise), in a greater proportion than any such payment to or collateral or proceeds of Collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or payment, benefits of such collateral or proceeds from Collateral ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits or proceeds is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Waste Services, Inc.), Intellectual Property Security Agreement (Waste Services, Inc.)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Day Credit Agreement (Dial Corp /New/), Credit Agreement (Dial Corp /New/)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Bank (a "benefited LenderBENEFITED BANK") shall at any time receive any payment of all or part of its LoansLoans or Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in paragraph (5) of Section 7.1(e)9 hereof, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, Bank in respect of such other LenderBank's LoansLoans or Reimbursement Obligations owing to it, or interest thereon, such benefited Lender Bank shall purchase for cash from the other Lenders a participating interest in Banks such portion of each such other LenderBank's Loan, Loans or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereofReimbursement Obligations owing to it, as shall be necessary to cause such benefited Lender Bank to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersBanks; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBank, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender Bank so purchasing a portion of another LenderBank's Loans or Reimbursement Obligations owing to it may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Bank were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (M I Schottenstein Homes Inc), Credit Agreement (M I Schottenstein Homes Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Bank (a "benefited LenderBENEFITTED BANK") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other LenderBank, if any, in respect of such other LenderBank's Loans, or interest thereon, such benefited Lender Benefitted Bank shall purchase for cash from the other Lenders a participating interest in Banks such portion of each such other LenderBank's LoanLoans, or shall provide such other Lenders Banks with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefitted Bank to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersBanks; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefitted Bank, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender Bank so purchasing a portion of another LenderBank's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Bank were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Franklin Resources Inc), Credit Agreement (Franklin Resources Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any relevant Lender (a "benefited “benefitted Lender"”) shall at any time receive any payment of all or part of any of its Loans, Loans or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)9, or otherwise) in a greater proportion than any such payment to or and collateral received by any other relevant Lender, if any, in respect of such other relevant Lender's Loans, ’s Loans or interest thereon, such benefited benefitted Lender shall purchase for cash from the other relevant Lenders a participating interest in such portion of each such other relevant Lender's Loan, ’s Loans or shall provide such other relevant Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the relevant Lenders; provided, however, provided that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion. The Administrative Agent shall promptly give the Borrowers notice of any set-off; provided that the failure to give such notice shall not affect the validity of such set-off.
Appears in 2 contracts
Samples: Collateral Agreement (Stratus Technologies Bermuda Holdings Ltd.), Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Rcpi Trust /De/), Credit Agreement (Rockefeller Center Properties Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefitted Lender") shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof then due and owing to such Lender (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansLoans or the Reimbursement Obligations then due and owing to such other Lender, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating (or, at the option of such Lender, a direct) interest in such portion of each such other Lender's LoanLoan and/or of the Reimbursement Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, provided that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Key Energy Group Inc), Credit Agreement (Key Energy Group Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Specified Lender (a "benefited LenderBENEFITTED SPECIFIED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, the Specified Obligations owing to it or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 9(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Specified Lender, if any, in respect of the Specified Obligations owing to such other Specified Lender's Loans, or interest thereon, such benefited benefitted Specified Lender shall purchase for cash from the other Specified Lenders a participating interest in such portion of the Specified Obligations owing to each such other Specified Lender's Loan, or shall provide such other Specified Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Specified Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Specified Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Specified Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Allotech International Inc), Credit Agreement (Allotech International Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereonthe Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon’s Obligations, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Obligations, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees For purposes of clause (iii) of Section 2.21(a), a Benefited Lender that each Lender so purchasing acquires a portion of participation interest in another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off’s Obligations pursuant to this Section 9.7(a) with respect shall be deemed to have acquired such portion as fully as if participating interest on the earlier date(s) on which such Benefited Lender were acquired its Obligations to which the direct holder of such portionparticipating interest relates.
Appears in 2 contracts
Samples: Credit Agreement (New Fortress Energy LLC), Credit Agreement (NFE Financial Holdings LLC)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefitted Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or fees, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, or fees, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or fees, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Point 360), Credit Agreement (Point 360)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefited Lender") shall -------------------- ---------------- at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(e), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, -------- however, that if all or any portion of such excess payment or benefits is ------- thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Mercantile Mutual Funds Inc), Credit Agreement (Excelsior Tax Exempt Funds Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited benefitted Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (e) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Cybex International Inc), Credit Agreement (Cybex International Inc)
Adjustments; Set-off. (a) Each Except to the extent that this Agreement or a court order expressly provides for payments to be allocated to a particular Lender agrees that or to the Lenders under a particular Facility, if any Lender (a "benefited “Benefitted Lender"”) shall shall, at any time after the Loans and other amounts payable hereunder shall immediately become due and payable pursuant to Section 8, receive any payment of all or part of its Loans, or interest thereonthe Obligations owing to it (other than in connection with an assignment made pursuant to Section 10.6), or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender's Loans, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (MSC Industrial Direct Co Inc), Credit Agreement (MSC Industrial Direct Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Alliance One International, Inc.), Credit Agreement (Alliance One International, Inc.)
Adjustments; Set-off. (a) Each Except to the extent this Agreement (including amendments hereto), any other Credit Document or a court order expressly provides for payments to be allocated to the Administrative Agent or a particular Lender or Lenders, each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, provided that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (American Capital, LTD), Credit Agreement (American Capital, LTD)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Amedisys Inc), Credit Agreement (Mortons Restaurant Group Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited LenderBENEFITTED LENDER") shall at any time receive any payment of all or part of its LoansRevolving Credit Loans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansRevolving Credit Loans or the Reimbursement Obligations owing to it, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest (or, at the option of such benefitted Lender, a direct interest) in such portion of each such other Lender's LoanRevolving Credit Loan or the Reimbursement Obligations owing to it, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Cole National Group Inc), Credit Agreement (Cole National Corp /De/)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e)a Bankruptcy Event, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Fisher Communications Inc), Credit Agreement (Nci Building Systems Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender or Transferee (a "benefited “benefitted Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans ’s Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Bradley Pharmaceuticals Inc), Credit Agreement (Bradley Pharmaceuticals Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral Collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(e), or otherwise) in a greater proportion than any such payment to or collateral Collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateralCollateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral Collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Royal Gold Inc), Revolving Credit Agreement (Royal Gold Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Si International Inc), Credit Agreement (Si International Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender or Transferee (a "benefited benefitted Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Adjustments; Set-off. (a) Each Lender agrees Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender, if any Lender (a "benefited benefitted Lender") shall shall, at any time after the Loans have been declared to be due and payable pursuant to Section 7, receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 7(f), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Each Borrower agrees that each Lender so purchasing a portion of another Lender's Loans portion of the Loan pursuant to this subsection 9.7(a) may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Chevron Phillips Chemical Co LLC), Credit Agreement (Chevron Phillips Chemical Co LLC)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or any part of the principal of its Loans, or interest thereonLoans owing to such Lender, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(eSections 9.1(g) or (h), or otherwise) ), in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of the principal of such other Lender's LoansLoans to such other Lender, or interest thereon, such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Each Credit Party agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, including rights of set-off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Bowne & Co Inc), Credit Agreement (Bowne & Co Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Lender") shall at any time receive any ---------------- payment of all or part of its Loans, Loans or interest thereon, or fees, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, Loans or interest thereon, or fees, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans or fees, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such -------- ------- excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Term Loan Agreement (Entravision Communications Corp), Term Loan Agreement (Entravision Communications Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Revolving Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Revolving Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Revolving Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Revolving Loans may exercise all rights of payment (including, without limitation, rights of set-offoff subject to paragraph (c) below), with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Ruddick Corp), Credit Agreement (Ruddick Corp)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefited Lender") -------------------- ---------------- shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(e), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, -------- however, that if all or any portion of such excess payment or benefits is ------- thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 2 contracts
Samples: Credit Agreement (Excelsior Funds Inc), Credit Agreement (Mercantile Mutual Funds Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited LenderBENEFITTED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(eSECTION 6(G), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersLenders as to each Category of Loans; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits benefit is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each any Lender so purchasing a portion of another Lender's Loans may participation from a Lender pursuant to this SECTION 9.10 may, to the fullest extent permitted by law, exercise all of its rights of payment (including, without limitation, rights including the right of set-off) with respect to such portion participation as fully as if such Lender Person were the direct holder creditor of the Borrower in the amount of such portionparticipation.
Appears in 1 contract
Samples: Credit Agreement (Aviation Sales Co)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Bank (a "benefited Lenderbenefitted Bank") shall at any time receive any payment of all or part of any of its LoansDIP Loans or L/C Participating Interests, as the case may be, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e)setoff, or otherwise) in a greater proportion than any such payment to or and collateral received by any other LenderBank, if any, in respect of such other LenderBank's LoansDIP Loans or L/C Participating Interests, as the case may be, or interest thereon, such benefited Lender benefitted Bank shall purchase for cash from the other Lenders a participating interest in Banks such portion of each such other LenderBank's LoanDIP Loans or L/C Participating Interests, as the case may be, or shall provide such other Lenders Banks with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender benefitted Bank to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersBanks; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lenderbenefitted Bank, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender Bank so purchasing a portion of another LenderBank's DIP Loans and/or L/C Participating Interests may exercise all rights of payment (including, without limitation, rights of set-offsetoff) with respect to such portion as fully as if such Lender Bank were the direct holder of such portion. The Agent shall promptly give the Company notice of any set-off, provided that the failure to give such notice shall not affect the validity of such set-off.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited LenderBENEFITTED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (e) of Section 7.1(e)7, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (Penton Media Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Purchaser (a "benefited LenderBENEFITTED PURCHASER") shall at any time receive any payment of all or part in respect of its LoansPurchaser Invested Amount any distribution of principal, interest, Unused Fees or any interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), off or otherwise) in a greater proportion than any such payment to or collateral distribution received by any other LenderPurchaser, if any, in respect of such other LenderPurchaser's LoansPurchaser Invested Amount, or interest thereon, such benefited Lender Benefitted Purchaser shall purchase for cash from the other Lenders a participating interest in Purchaser such portion of each such other LenderPurchaser's Loaninterest in the Series 2001-1 Investor Notes, or shall provide such other Lenders Purchaser with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefitted Purchaser to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lendersother Purchaser; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefitted Purchaser, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Issuer agrees that each Lender any Purchaser so purchasing a portion of another LenderPurchaser's Loans Purchaser Invested Amount may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Purchaser were the direct holder of such portion.
Appears in 1 contract
Samples: Goodyear Tire & Rubber Co /Oh/
Adjustments; Set-off. (a) Each Except to the extent that this Agreement, any other Loan Document or a court order expressly provides for payments to be allocated to a particular Lender agrees that Party or to the Lender Parties, if any Lender Party (a "benefited Lender"“Benefited Lender Party”) shall at any time receive any payment of all or part of its Loans, the Credit Facility Obligations owing to it (other than in connection with an assignment or interest thereonparticipation made pursuant to the Loan Documents), or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(e) or (f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other LenderLender Party, if any, in respect of Credit Facility Obligations owing to such other Lender's Loans, or interest thereonLender Party, such benefited Benefited Lender Party shall purchase for cash from the other Lenders Lender Parties a participating interest in such portion of Credit Facility Obligations owing to each such other Lender's LoanLender Party, or shall provide such other Lenders Lender Parties with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender Party to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersLender Parties; provided, however, provided that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefited Lender Party, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion This Section 9.19(a) shall survive the termination of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portionthis Agreement.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited LenderBENEFITED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e10(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Holdings and the Borrower agrees agree that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Borrowers agree that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees Except to the extent that this Agreement provides for payments to be allocated to the Lenders under a particular Facility, if any Lender (a "benefited LenderBENEFITTED LENDER") shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's LoansLoans or the Reimbursement Obligations owing to such other Lender, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoan and/or of the Reimbursement Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (Nebraska Book Co)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Purchaser (a "benefited Lender"“Benefitted Purchaser”) shall at any time receive any payment of all or part in respect of its LoansPurchaser Invested Amount any distribution of principal, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), off or otherwise) in a greater proportion than any such payment to or collateral distribution received by any other LenderPurchaser, if any, in respect of such other Lender's LoansPurchaser’s Purchaser Invested Amount, or interest thereon, such benefited Lender Benefitted Purchaser shall purchase for cash from the other Lenders a participating interest in Purchaser such portion of each such other Lender's LoanPurchaser’s interest in the Series 2004-1 Notes, or shall provide such other Lenders Purchaser with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefitted Purchaser to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lendersother Purchaser; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefitted Purchaser, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower CRCF agrees that each Lender any Purchaser so purchasing a portion of another Lender's Loans Purchaser’s Purchaser Invested Amount may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Purchaser were the direct holder of such portion.
Appears in 1 contract
Samples: Cendant Corp
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its LoansLoans or the Reimbursement Obligations owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 7.1(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Loans or the Reimbursement Obligations owing to it, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans owing to it, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest unless the benefited Lender is required to pay interest thereon, in which case each Lender returning funds to the benefited Lender shall pay its pro rata share of such interest. The Borrower Each of the Borrowers, jointly and severally agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Sharing Agreement (West Pharmaceutical Services Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e)a Bankruptcy Event, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if 100 all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Purchaser (a "benefited LenderBENEFITTED PURCHASER") shall at any time receive any payment of all or part in respect of its LoansSeries 1998-2 Invested Amount any distribution of principal, interest, Commitment Fees or other fees, or any interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), off or otherwise) in a greater proportion than any such payment to or collateral distribution received by any other LenderPurchaser, if any, in respect of such other LenderPurchaser's LoansSeries 1998-2 Invested Amount, or interest thereon, such benefited Lender Benefitted Purchaser shall purchase for cash from the other Lenders a participating interest in Purchasers such portion of each such other LenderPurchaser's Loaninterest in the VFC Certificates, or shall provide such other Lenders Purchasers with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefitted Purchaser to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersPurchasers; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefitted Purchaser, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender Purchaser so purchasing a portion of another Lender's Loans the VFC Certificateholders' Interest may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Purchaser were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited “Benefitted Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans ’s Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if 11.18 If any Lender (a "benefited LenderBENEFITED LENDER") shall at any time receive any payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1 (h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall notify the Administrative Agent and shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest, unless the benefited Lender is required to pay interest on the amount of the excess payment to be returned, in which case the other Lenders shall pay their pro rata share of such interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Security Agreement (Salem Communications Corp /De/)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral Collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(e), or otherwise) in a greater proportion than any such payment to or collateral Collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateralCollateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral Collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited benefitted Lender") shall at any time receive any payment of all or part of any of its Loans, or interest thereon, pursuant to a guarantee or otherwise, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events off or proceedings of the nature referred to in Section 7.1(eotherwise), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, Loans or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in Lender such portion of each such other Lender's LoanLoans, or shall provide such other Lenders Lender with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such purchasing Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Term Credit Agreement (Acterna Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender"“ Benefited Lender ”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral Collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8.1(e), or otherwise) in a greater proportion than any such payment to or collateral Collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateralCollateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral Collateral or proceeds ratably with each of the Lenders; providedprovided , howeverhowever , that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, including rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Benefitted Lender") shall at any time receive any payment of all or part of any of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in clause (f) of Section 7.1(e)9, or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, Loans or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower Company agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion. The Administrative Agent shall promptly give the Company notice of any set-off, provided that the failure to give such notice shall not affect the validity of such set-off.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited benefitted Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or fees, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(f), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, or fees, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans or fees, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender"“Benefited Lender ”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-offoff subject to paragraph (c) below), with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (Ruddick Corp)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees Credit Parties agree that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.. 101
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), a Bankruptcy Event or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (New Century Transportation, Inc.)
Adjustments; Set-off. (a) Each Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender agrees that (other than the Canadian Lender) or to the Lenders under a particular Facility (other than the Canadian Facility), if any Lender (a "benefited LenderBENEFITED LENDER") shall shall, at any time after the Loans and other amounts payable hereunder shall immediately become due and payable pursuant to Section 8, receive any payment of all or part of its Loans, or interest thereonthe Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e8(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender's Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of the Obligations owing to each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; providedPROVIDED, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender Bank (a "benefited LenderBENEFITTED BANK") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7(g), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other LenderBank, if any, in respect of such other LenderBank's Loans, or interest thereon, such benefited Lender Benefitted Bank shall purchase for cash from the other Lenders a participating interest in Banks such portion of each such other LenderBank's LoanLoans, or shall provide such other Lenders Banks with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender Benefitted Bank to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersBanks; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited LenderBenefitted Bank, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender Bank so purchasing a portion of another LenderBank's Loans Loan may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender Bank were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited Lender") shall ---------------- at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if -------- ------- all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) WWWWWWW. Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e)a Bankruptcy Event, or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "benefited LenderBENEFITED LENDER") shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral Collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion than any such payment to or collateral Collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan, or shall provide such other Lenders with the benefits of any such collateralCollateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral Collateral or proceeds ratably with each of the Lenders; providedPROVIDED, howeverHOWEVER, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (Integrated Defense Technologies Inc)
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its LoansLoans owing to it, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esubsection 7.1(f), or otherwise) ), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's Loans’s Loans owing to it, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans owing to it, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest unless the benefited Lender is required to pay interest thereon, in which case each Lender returning funds to the benefited Lender shall pay its pro rata share of such interest. The Borrower Each of the Borrowers, jointly and severally agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (West Pharmaceutical Services Inc)
Adjustments; Set-off. (a) Each Lender agrees that if any Lender (a "“benefited Lender"”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e7.1(f) or Section 7.1(g), or otherwise) in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender's ’s Loans, or interest thereon, such benefited Lender shall purchase for cash Cash from the other Lenders a participating interest in such portion of each such other Lender's ’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)
Adjustments; Set-off. (a) Each Lender agrees that if Setoff by any Lender. If any Lender (a "benefited “Benefited Lender"”) shall at any time receive any payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-offset‑off, pursuant to events any bankruptcy, reorganization or proceedings liquidation of Borrower or the nature referred to in Section 7.1(e), Guarantor or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, Lender in respect of such other Lender's ’s Loans, or interest thereon, such benefited Benefited Lender shall purchase for cash from each of the other Lenders a participating interest in such portion of each such other Lender's Loan’s Loans, or and shall provide each of such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; , provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees agree that each Lender so purchasing a portion of another Lender's ’s Loans may exercise all rights of payment (including, without limitation, rights of set-off, to the extent not prohibited by law) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Lender") shall at any time receive any ---------------- payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(esection 9.1 (h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall notify the Administrative Agent and shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest, unless the benefitted Lender is required to pay interest on the amount of the excess payment to be returned, in which case the other Lenders shall pay their pro rata share of such interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-set- off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited benefitted Lender") shall at any time receive any payment of all or part of any of its LoansLoans owing to it under any Commitment, or interest thereon, pursuant to a guarantee or otherwise, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events off or proceedings of the nature referred to in Section 7.1(eotherwise), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, Loans owing to it under such Commitment or interest thereon, such benefited benefitted Lender shall purchase for cash from the other Lenders a participating interest in Lender such portion of each such other Lender's Loansimilar Loans, or shall provide such other Lenders Lender with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the LendersLenders which hold such Commitment; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such purchasing Lender were the direct holder of such portion.
Appears in 1 contract
Adjustments; Set-off. (a) Each Lender agrees that if If any Lender (a "benefited Lender") shall at any time receive any payment of all or any part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e9.1 (h) or (i), or otherwise) in a greater proportion than any such payment to or and collateral received by any other Lender, if any, in respect of such other Lender's Loans, or interest thereon, such benefited Lender shall notify the Administrative Agent and shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender's LoanLoans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest, unless the benefitted Lender is required to pay interest on the amount of the excess payment to be returned, in which case the other Lenders shall pay their pro rata share of such interest. The Borrower agrees that each Lender so purchasing a portion of another Lender's Loans may exercise all rights of payment (including, without limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion.
Appears in 1 contract