Common use of Application of Payments; Sharing Clause in Contracts

Application of Payments; Sharing. (a) Subject to the provisions of this Section 6.9, the Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of the Borrower in respect of any obligations of the Borrower hereunder, it shall distribute such payment to the Lender pro rata based upon their respective shares, if any, of the obligations with respect to which such payment was received. (b) The Lender agrees that, if it should receive any amount hereunder (whether by voluntary payment, by the exercise of the right of setoff or banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Financing Documents, or otherwise), which, in any such case, is in excess of its ratable share of payments on account of the obligations obtained by all Lender, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lender an interest in the obligations of the Borrower to such Lender in such amount as shall result in a proportional participation by all the Lender in such amount; provided, however, that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.

Application of Payments; Sharing. (a) Subject to the provisions of this Section 6.9, the Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of the Borrower in respect of any obligations of the Borrower hereunder, it shall distribute such payment to the Lender Lenders pro rata based upon their respective shares, if any, of the obligations with respect to which such payment was received. (b) The Each Lender agrees that, if it should receive any amount hereunder (whether by voluntary payment, by the exercise of the right of setoff or banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Financing Documents, or otherwise), which, in any such case, is in excess of its ratable share of payments on account of the obligations obtained by all LenderLenders, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lender Lenders an interest in the obligations of the Borrower to such Lender in such amount as shall result in a proportional participation by all the Lender in such amount; provided, however, that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.

Application of Payments; Sharing. (a) Subject to the provisions of this Section 6.93.7, the Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of the Borrower in respect of any obligations Obligations of the Borrower hereunder, it shall promptly distribute such payment to the Lender Lenders pro rata based upon their --- ---- respective shares, if any, of the obligations Obligations with respect to which such payment was received. (b) The Lender Each of the Lenders agrees that, if it should receive any amount hereunder (whether by voluntary payment, by realization upon security, by the exercise of the right of setoff or banker’s 's lien, by counterclaim or cross action, by the enforcement of any right under the Financing Documents, or otherwise), which, in any such case, is in excess of its ratable share of payments on account of the obligations Obligations obtained by all LenderLenders, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lender Lenders an interest in the obligations Obligations of the Borrower to such Lender Lenders in such amount as shall result in a proportional participation by all the Lender Lenders in such amount; provided, however, that if all or any portion of such excess amount is -------- ------- thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.

Application of Payments; Sharing. (a) Subject to the provisions of this Section 6.96.8, the Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of the Borrower in respect of any obligations Obligations of the Borrower hereunder, it shall promptly distribute such payment to the Lender Lenders pro rata based upon their respective shares, if any, of the obligations Obligations of the Borrower hereunder with respect to which such payment was received. (b) The Lender Each of the Lenders agrees that, if it should receive any amount hereunder (whether by voluntary payment, by realization upon security, by the exercise of the right of setoff or banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Financing Transaction Documents, or otherwise), which, in any such case, is in excess of its ratable share of payments on account of the obligations Obligations obtained by all LenderLenders, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lender Lenders an interest in the obligations Obligations of the Borrower to such Lender Lenders in such amount as shall result in a proportional participation by all the Lender Lenders in such amount; provided, however, that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest.