Common use of Calculation of Contributions Clause in Contracts

Calculation of Contributions. Each Borrower shall be liable for contribution to each Funding Borrower in respect of all payments, damages and expenses incurred by such Funding Borrower hereunder or under the Note or any other Loan Document in an aggregate amount, subject to Section 10.24(c) hereof, equal to (i) the ratio of (x) the Property Worth of the Property owned by such Borrower to (y) the Property Worth of the Properties owned by all Borrowers, multiplied by (ii) the aggregate amount of such payments, damages and expenses incurred by such Funding Borrower under or in connection with the Obligations.

Appears in 3 contracts

Samples: Loan Agreement (Prime Retail Lp), Loan Agreement (Prime Retail Lp), Loan Agreement (Horizon Group Properties Inc)

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Calculation of Contributions. Each Borrower shall be liable for contribution to each Funding Borrower in respect of all payments, damages and expenses incurred by such Funding Borrower hereunder or under the Note Notes or any other Loan Document in an aggregate amount, subject to Section 10.24(c12.27(c) hereofbelow, equal to (i) the ratio of (x) the Property Worth of the Property owned by such Borrower to (y) the Property Worth of the Properties owned by all Borrowers, multiplied by (ii) the aggregate amount of such payments, damages and expenses incurred by such Funding Borrower under or in connection with the Obligations.

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotel Capital Inc)

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Calculation of Contributions. Each Borrower shall be liable for contribution contributions to each Funding Borrower in respect of all payments, damages and expenses incurred by such Funding Borrower hereunder or under the Note or any other Loan Document in an aggregate amount, subject to Section 10.24(c4.12(d) hereof, equal to (i) the ratio of (x) the Property Worth fair market value, as of the Closing Date, of the Property or Properties owned by such Borrower to (y) the Property Worth fair market value, as of the Closing Date, of the Properties owned by all Borrowers, multiplied by (ii) the aggregate amount of such payments, damages and expenses incurred by such Funding Borrower under or in connection with the Obligations.

Appears in 1 contract

Samples: Loan Agreement (Candlewood Hotel Co Inc)

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