Allocation of Obligations. The Bank and the Company shall allocate among themselves which party shall be responsible for paying the severance payments and other benefits directed by this Agreement. The payment by either party of such severance payments and other benefits shall satisfy the obligations of the non-paying party under this Agreement. Both the Bank and the Company shall be jointly liable in the event of a failure by both parties to pay such severance payments and other benefits.
Allocation of Obligations. The obligations of the Company (including any Designated Subsidiaries) and the Co-Borrower under this Agreement shall be several and not joint. Except to the extent otherwise expressly provided in Article VII, obligations arising to the Agent or the Lenders pertaining to any Advance hereunder shall be obligations of the Borrower to whom such Advance was made, and neither of the Company nor the Co-Borrower shall be liable for any portion of any obligation of, or any amount allocated to, the other such Borrower. Any obligation that is to be allocated between the Company and the Co-Borrower shall be so allocated on the basis of the Contribution Percentages.
Allocation of Obligations. (i) Xxxx Atlantic shall have the right, exercisable by written notice to Vodafone within thirty (30) days after a determination of the Monetizable Interests Percentage pursuant to Section 5.2, to obligate itself or its designee (for whose obligations Xxxx Atlantic shall be primarily liable) rather than Wireless to purchase pursuant to the Phase I Option or the Phase II Option some or all of the percentage of Interests covered by the applicable Monetization Notice. Such written notice shall specify that portion of the Monetization Amount as to which Xxxx Atlantic is exercising the foregoing right and such notice may not be modified or revoked by Xxxx Atlantic after it is delivered to Vodafone. That portion of the Monetization Amount allocated to Wireless and Xxxx Atlantic after giving effect to this Section 5.1(c) shall be the "Wireless Allocated Amount" and the "Xxxx Atlantic Allocated Amount," respectively. In the event that the Wireless Allocated Amount for all transactions effected pursuant to the Phase I Option exceeds $5 billion, then a "Monetization Imbalance" shall be deemed to exist for purposes of Section 7.1(c) of the Partnership Agreement.
(ii) Notwithstanding Xxxx Atlantic's proposed allocation of the Monetization Amount pursuant to subparagraph (i) above, (A) at the option of Vodafone, Wireless (and not Xxxx Atlantic) shall be obligated to purchase pursuant to the Phase II Option a portion of the Monetization Amount, not to exceed a total of $7.5 billion, in one or more transactions as provided in Sections 5.3(d) and 5.3(e) and (B) in the event that Wireless defaults on its obligations pursuant to the Phase I Option or Phase II Option to purchase some or all of the Interests covered by a Monetization Notice, the Xxxx Atlantic Allocated Amount shall be increased to the extent necessary to cure such default, but in no event by more than the Xxxx Atlantic Backstop with respect to the applicable Monetization Closing.
Allocation of Obligations. Xxxxxxxx and the Subsidiary shall allocate among themselves which party shall be responsible for paying the severance payments and other benefits directed by this Agreement. The payment by either party of such severance payments and other benefits shall satisfy the obligations of the non-paying party under this Agreement. Both Xxxxxxxx and the Subsidiary shall be jointly liable in the event of a failure by both parties to pay such severance payments and other benefits.
Allocation of Obligations. ARTICLE II SECTION 2.01. The Advances SECTION 2.02. Making the Advances
Allocation of Obligations. The obligations of the Borrowers under this Agreement and the Notes shall be several and not joint. Except to the extent otherwise expressly provided herein, obligations arising to the Agent or the Lenders pertaining to any Loan hereunder shall be
Allocation of Obligations. Should the Project Agreement Members acting collectively under this Project Agreement enter into any contract or other voluntary obligation, such contract or obligation shall be in the name of the Authority; provided, that all financial obligations thereunder shall be satisfied solely with funds provided under this Project Agreement and in accordance with Section 6.
Allocation of Obligations. The Company and the Affiliated Company shall allocate among themselves which party shall be responsible for paying the salary and other benefits required to be paid by this Agreement. The payment by either party of such salary and other benefits shall satisfy the obligations of the non-paying party under this Agreement. Both the Company and the Affiliated Company shall be jointly and severally liable in the event of a failure by both parties to pay compensation and other benefits hereunder.
Allocation of Obligations. The Bank and the Company shall allocate among themselves which party shall be responsible for paying the salary and other benefits required to be paid by Sections 4, 6(a), 6(e), 7 and 13 of this Agreement. The payment by either party of such salary and other benefits shall satisfy the obligations of the non-paying party under such Sections. Both the Bank and the Company shall be jointly and severally liable in the event of a failure by both parties to pay such salary and other benefits.
Allocation of Obligations. The obligations of the Borrowers under this Agreement and the Notes shall be several and not joint. Except to the extent otherwise expressly provided herein, obligations arising to the Agent or the Lenders pertaining to any Loan hereunder shall be obligations of the Borrower to whom such Loan was made, and no Borrower shall be liable for any portion of any obligation of, or any amount allocated to, any other Borrower. Any obligation that is to be allocated among the Borrowers shall be so allocated on the basis of the ratio of the average of each such Borrower’s Net Asset Value on each day of the most recently completed three calendar months preceding the date of calculation for purposes of such allocation to the average of the Net Asset Values on each day of the most recently completed three calendar months of all Borrowers in the aggregate (the “Pro Rata Allocation”). The Borrowers shall set forth the initial Pro Rata Allocation as of the last day of the month immediately preceding the Agreement Date on Schedule 4 attached hereto. The Pro Rata Allocation shall be readjusted in accordance with Section 2.14 hereof or, so long as no Event of Default then exists, at the request of any Borrower.
