Common use of Contribution and Subrogation Clause in Contracts

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 8 contracts

Samples: First Lien Guarantee and Collateral Agreement, First Lien Guarantee and Collateral Agreement (Jda Software Group Inc), Second Lien Guarantee and Collateral Agreement (Jda Software Group Inc)

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Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or the Parent Borrower) shall be sold pursuant to any Security Document this Agreement to satisfy any Obligation owed to any Secured of a Borrower or an Account Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers or the Account Parties as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.16 or Section 6.17, respectively, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 8 contracts

Samples: Credit Agreement (J C Penney Co Inc), Guarantee and Collateral Agreement (J C Penney Co Inc), Credit Agreement (J C Penney Co Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03Sections 2.07 and 3.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than any Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14such Guarantor, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 7 contracts

Samples: Master Guarantee Agreement, Collateral Agreement (SMART Global Holdings, Inc.), Collateral Agreement (SMART Global Holdings, Inc.)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (each, a “Contributing PartyGuarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Contributing Guarantor hereunder in respect of any Obligation Obligation, or assets of any other Grantor Contributing Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Contributing Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by Holdings or the Borrower as provided in Section 6.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Contributing Guarantors and Grantors on the date hereof (or, in the case of any Contributing Guarantor or Grantor becoming a party hereto pursuant to Section 7.1410.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorContributing Guarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 to the extent of such payment.

Appears in 6 contracts

Samples: Term Facility Guarantee and Collateral Agreement, Revolving Facility Guarantee and Collateral Agreement (Houghton Mifflin Harcourt Co), Intellectual Property Security Agreement (Houghton Mifflin Harcourt Co)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 6 contracts

Samples: Collateral Agreement (Virtu Financial, Inc.), Master Guarantee Agreement (Endurance International Group Holdings, Inc.), Master Guarantee Agreement (Endurance International Group Holdings, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (other than the Borrower) (each such Guarantor or Grantor being called a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor other than the Borrower shall be sold pursuant to any Security Collateral Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (the “Indemnified Amount”), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties on the date hereof (or, in the case of any Guarantor or Grantor Contributing Party becoming a party hereto pursuant to Section 7.146.12, the date of the supplement hereto executed and delivered by such Guarantor or GrantorContributing Party). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment. Notwithstanding the foregoing, to the extent that any Claiming Party’s right to indemnification hereunder arises from a payment or sale of Collateral made to satisfy Obligations constituting Secured Swap Obligations, only those Contributing Parties for whom such Secured Swap Obligations do not constitute Excluded Swap Obligations shall indemnify such Claiming Party, with the fraction set forth in the second preceding sentence being modified as appropriate to provide for indemnification of the entire Indemnified Amount.

Appears in 5 contracts

Samples: Credit Agreement (Americold Realty Trust), Guarantee and Collateral Agreement (Americold Realty Trust), Guarantee and Collateral Agreement (Americold Realty Trust)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Secured Obligations or assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 5 contracts

Samples: Guarantee Agreement (Sotera Health Co), Guarantee Agreement (Sotera Health Topco, Inc.), Master Guarantee Agreement (NorthStar Asset Management Group Inc.)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Borrower) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Borrower) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings and the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 5 contracts

Samples: Guarantee and Collateral Agreement (Goodman Holding CO), Guarantee and Collateral Agreement (Verso Sartell LLC), Credit Agreement (Verso Paper Holdings LLC)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Secured Obligations (other than payments made by a Borrower with respect to its own obligations) or assets of any other Grantor Guarantor (other than a Borrower in satisfaction of its own obligations) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 4 contracts

Samples: First Lien Guarantee Agreement (Franchise Group, Inc.), Second Lien Guarantee Agreement (Franchise Group, Inc.), First Lien Guarantee Agreement (Franchise Group, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the "Claiming Party") shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 4 contracts

Samples: Guarantee and Collateral Agreement (Symbol Technologies Inc), Guarantee and Collateral Agreement (Sea Coast Foods, Inc.), Guarantee and Collateral Agreement (Dress Barn Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.13, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Lenders.

Appears in 4 contracts

Samples: And Restatement Agreement, Converting Term Lender (Sabre Corp), Guaranty (Sabre Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Loan Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (Ami Celebrity Publications, LLC), Guarantee and Collateral Agreement (Ami Celebrity Publications, LLC), Guarantee and Collateral Agreement (Ami Celebrity Publications, LLC)

Contribution and Subrogation. Each Guarantor and Subsidiary Grantor (a “Contributing Party”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor Subsidiary Grantor hereunder in respect of any Obligation Guarantor Obligation, or assets of any other Subsidiary Grantor shall be sold pursuant to any Security Collateral Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Subsidiary Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.016.01 hereof, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties on the date hereof (or, in the case of any Guarantor or Subsidiary Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or Subsidiary Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 4 contracts

Samples: Collateral Agreement (Anywhere Real Estate Group LLC), Collateral Agreement (Realogy Holdings Corp.), Junior Priority (Domus Holdings Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case any Guarantor or Grantor becomes a party hereto pursuant to Section 7.14, the date of the last supplement hereto executed and delivered by a Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming becomes a party hereto pursuant to Section 7.14, the date of the last supplement hereto executed and delivered by such a Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (United Surgical Partners International Inc), Guarantee and Collateral Agreement (United Surgical Partners International Inc), Credit Agreement (United Surgical Partners International Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03Sections 3.03 and 3.04) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, such other date). Subject to the date terms of Section 3.03(b), each Guarantor hereby agrees that to the supplement hereto executed and delivered by extent a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor or Grantor)shall be entitled to seek and receive contribution from and against any other Guarantor hereunder that has not paid its proportionate share of such payment. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 3 contracts

Samples: Collateral Agreement (Blue Bird Corp), Credit Agreement (Amplify Snack Brands, INC), Collateral Agreement (TA Holdings 1, Inc.)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Company) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Company) hereunder in respect of any Credit Agreement Obligation or assets of any other Grantor Guarantor (other than Holdings and the Company) shall be sold pursuant to any Security Document to satisfy any Credit Agreement Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.149.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (Verso Paper Corp.), Guarantee and Collateral Agreement (Verso Paper Corp.), Credit Agreement (Verso Paper Corp.)

Contribution and Subrogation. Each Guarantor Holdings and Grantor each Subsidiary Loan Party (each a “Contributing PartyGuarantor”) agrees (subject to Section 6.036) that, in the event a payment in respect of any Guaranteed Obligations shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor the Borrower (the “Claiming PartyGuarantor”) shall not have been fully indemnified by Holdings and the Borrower Subsidiary Loan Parties as provided in Section 6.018, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Loan Parties on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)hereof. Any Contributing Party Guarantor making any payment to a the Claiming Party Guarantor pursuant to this Section 6.02 9 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 8 to the extent of such payment; provided that neither Holdings nor any Subsidiary Loan Party shall be obligated to indemnify the Borrower hereunder to the extent such Guaranteed Obligations constitute Excluded Swap Obligations of Holdings or such Subsidiary Loan Party.

Appears in 3 contracts

Samples: Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Secured Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (Bz Intermediate Holdings LLC), Credit Agreement (Bz Intermediate Holdings LLC), Credit Agreement (Pandora Media, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.10, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (IASIS Healthcare LLC), Revolving Credit Agreement (IASIS Healthcare LLC), Credit Agreement (IASIS Healthcare LLC)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Collateral Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or and the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor); provided that in the event the Claiming Party shall be Parent, none of the Subsidiary Credit Parties shall have any obligation to indemnify Parent pursuant to this paragraph. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 3 contracts

Samples: Credit Agreement (Navistar International Corp), Agreement (Navistar International Corp), Credit Agreement (Navistar International Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 3 contracts

Samples: Collateral Agreement (Allegion PLC), Guarantee and Collateral Agreement (Affinia Group Intermediate Holdings Inc.), Guarantee and Collateral Agreement (Allegion PLC)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing PartyGuarantor”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or Parent Borrower Guaranteed Obligations, as applicable, or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation or Parent Borrower Guaranteed Obligations, as applicable, owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the a Borrower as provided in Section 6.015.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 5.01 to the extent of such payment.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (VWR Funding, Inc.), Guarantee and Collateral Agreement (VWR Funding, Inc.), Guarantee and Collateral Agreement (VWR Funding, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.12, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Lenders.

Appears in 3 contracts

Samples: Guaranty (VPNet Technologies, Inc.), LVB Acquisition, Inc., Biolectron, Inc.

Contribution and Subrogation. Each Guarantor and Grantor Grantor, other than the Company, that has guaranteed, or granted Liens to secure, the Obligations (a “Contributing Party”) agrees (subject to Section 6.038.03) that, in the event (a) a payment shall be made by any other Guarantor (other than the Company) hereunder in respect of any Obligation Obligations or (b) assets of any other Grantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Obligations, and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.018.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Grantors, other than the Company. For the purposes of the previous sentence, the net worth of each Guarantor and Grantor shall be determined on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14Guarantor or Grantor after the date hereof, the date of the supplement hereto executed and delivered by on which such Guarantor or Grantor shall have become a Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 8.01 to the extent of such payment.

Appears in 3 contracts

Samples: Reaffirmation Agreement (Goodyear Tire & Rubber Co /Oh/), Collateral Agreement (Goodyear Tire & Rubber Co /Oh/), Stock Pledge Agreement (Goodyear Tire & Rubber Co /Oh/)

Contribution and Subrogation. Each Guarantor and Grantor US Borrower Subsidiary Party (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor US Borrower Subsidiary Party hereunder in respect of any Obligation or assets of any other Grantor US Borrower Subsidiary Party shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor US Borrower Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the applicable Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors US Borrower Subsidiary Parties on the date hereof (or, in the case of any Guarantor or Grantor US Borrower Subsidiary Party becoming a party hereto pursuant to Section 7.14, the date of the supplement Guarantee and Collateral Agreement Supplement hereto executed and delivered by such Guarantor or GrantorUS Borrower Subsidiary Party). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (CCE Spinco, Inc.), Guarantee and Collateral Agreement (Live Nation, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party”Guarantor") agrees (subject to Section 6.033) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party under the Guarantee Agreement and such other Guarantor or Grantor (the "Claiming Party”Guarantor") shall not have been fully indemnified by the Borrower as provided in Section 6.011, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth (without taking into account any Obligations) of the Contributing Party Guarantor on the date hereof (or, if later, the date such Contributing Guarantor became a party hereto) and the denominator shall be the aggregate net worth (without taking into account any Obligations) of all the Guarantors and Grantors on the date hereof (or, in plus the case net worth of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, 14 on the date of the supplement hereto executed and delivered by such Guarantor or Grantor)so became a party hereto. Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 2 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 1 to the extent of such payment.

Appears in 2 contracts

Samples: Conversion Notes Registration Rights Agreement (Danbury Pharmacal Puerto Rico Inc), Conversion Notes Registration Rights Agreement (Schein Pharmaceutical Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03Sections 3.03 and 3.04) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment. Notwithstanding the foregoing, no Guarantor that is not an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder shall be required to make any contribution hereunder to any other Guarantor with respect to any Excluded Swap Obligations.

Appears in 2 contracts

Samples: Credit Agreement (PDL Biopharma, Inc.), Collateral Agreement (PDL Biopharma, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor Grantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the applicable Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Resolute Forest Products Inc.), Intercreditor Agreement (AbitibiBowater Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (each such Guarantor or Grantor, other than, in the case of any payment referred to in this sentence by Capital Holdings under the Note, as applicable, being referred to as a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other the Guarantor hereunder in respect of any Obligation the Note or assets of any other Grantor shall be sold pursuant to any Security Document hereto to satisfy the Note (other than any Obligation owed assets of Capital Holdings sold to any Secured Party satisfy its obligations under the Note) and such other the Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower or Borrowers, as applicable, as provided in Section 6.015.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (the “Indemnified Amount”), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)hereof. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment. SECTION 5.03.

Appears in 2 contracts

Samples: Execution Version Guarantee and Collateral Agreement (Knowles Corp), Purchase and Sale Agreement (Knowles Corp)

Contribution and Subrogation. Each Guarantor and Grantor other than with respect to First Lien Obligations for which such Grantor is primarily liable as a Borrower (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor other than such Borrower shall be sold pursuant to any Security Collateral Document to satisfy any First Lien Obligation of such Borrower owed to any First Lien Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the such Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof Closing Date and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof Closing Date (or, in the case of any Guarantor or Grantor becoming a party to the Original Security Agreement or hereto pursuant to Section 7.146.14 thereof or hereof, the date of the supplement Security Agreement Supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Security Agreement (Nielsen Holdings B.V.), Security Agreement (Nielsen CO B.V.)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Company) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Company) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings and the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower applicable Borrower, as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Berry Global Group Inc), Guarantee and Collateral Agreement (Covalence Specialty Adhesives LLC)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”"CONTRIBUTING PARTY") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”"CLAIMING PARTY") shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (Wilmar Holdings Inc), Collateral Agreement (Interline Brands, Inc./De)

Contribution and Subrogation. Each Subsidiary Guarantor and Subsidiary Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation or assets of any other Grantor Subsidiary Grantor) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Guarantor or Subsidiary Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Subsidiary Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Subsidiary Grantor becoming a party hereto pursuant to Section 7.147.13, its net worth and such aggregate net worth on the date of the supplement hereto executed and delivered by such Subsidiary Guarantor or Subsidiary Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (SVMK Inc.), Credit Agreement (SVMK Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetspayment, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.13, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment. For purposes of this Agreement, “net worth” of any Guarantor as of any date shall mean (a) the amount of the total assets of such Guarantor as of such date minus (b) the amount of the total liabilities of such Guarantor as of such date, in each case that would be reflected on a balance sheet prepared on a consolidated basis as of such date in accordance with GAAP.

Appears in 2 contracts

Samples: Form of Guarantee Agreement (American Axle & Manufacturing Holdings Inc), Credit Agreement (American Axle & Manufacturing Holdings Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.039.10) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation or any assets of any other Grantor Guarantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.019.08, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than the Company) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14after the date hereof, the date of the supplement hereto executed and delivered by such Guarantor or Grantoron which it became a Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 9.09 shall (subject to Section 9.10) be subrogated to the rights of such Claiming Party under Section 6.01 9.08 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp)

Contribution and Subrogation. Each Guarantor and Grantor Grantor, other than the Company, that has guaranteed, or granted Liens to secure, the Obligations (a “Contributing Party”) agrees (subject to Section 6.038.03) that, in the event a payment shall be made by any other Guarantor (other than the Company) hereunder in respect of any Obligation Obligations or assets of any other Grantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Obligations and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.018.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Grantors, other than the Company. For the purposes of the previous sentence, the net worth of each Guarantor and Grantor shall be determined on the date hereof Effective Date (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14Guarantor or Grantor after the Effective Date, the date of the supplement hereto executed and delivered by on which such Guarantor or Grantor shall have become a Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 8.01 to the extent of such payment.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (Goodyear Tire & Rubber Co /Oh/), Guarantee and Collateral Agreement (Goodyear Tire & Rubber Co /Oh/)

Contribution and Subrogation. Each Guarantor and Grantor (a for purposes of this Section 3(a), an “Contributing Party”) agrees (subject to Section 6.034 hereof) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation under the Guaranty or assets of any other Grantor Guarantor shall be sold pursuant to any Security Collateral Document to satisfy a claim of Bank and any Affiliate of Bank in respect of any Guaranteed Obligation owed to any Secured Party and such other Guarantor or Grantor (for purposes of this Section 3(a), the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.012 hereof, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (or a pro rata amount thereof based on the portion of sale proceeds applied to satisfy such claim), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof of the Guaranty (or, in the case of any Guarantor becoming a party hereto pursuant to Section 14 hereof, the date of the Supplement hereto executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof of the Guaranty (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.1414 hereof, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3(a) shall be subrogated to the rights of such Claiming Party under Section 6.01 2 hereof to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Usana Health Sciences Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Guarantor or Grantor (other than the Borrower) shall be sold pursuant to this Agreement, the Pledge Agreement or any other Security Document to satisfy any Obligation owed to any Secured Party or Shared Pledge Obligation and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 6.13 or to the Pledge Agreement pursuant to Section 4.13 thereof, the date of the supplement hereto or to the Pledge Agreement, as the case may be, executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.13 or to the Pledge Agreement pursuant to Section 4.13 thereof, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (NCR Corp), Credit Agreement (NCR Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing PartyGuarantor”) agrees (subject to Section 6.033) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document under the Guarantee Agreement to satisfy a claim of the Administrative Agent or any Obligation owed to any Secured Party Lender and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by Holdings and the Borrower Borrowers as provided in Section 6.011, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 12, the date of the Supplement hereto executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.1412, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 2 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 1 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (American Standard Companies Inc), Day Credit Agreement (American Standard Companies Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”"CONTRIBUTING PARTY") agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor under the Indenture or hereunder in respect of any Obligation or that assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”"CLAIMING PARTY") shall not have been fully indemnified by the Borrower Company as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, (a) in the case of any Guarantor or becoming a party to the Indenture pursuant to Section 4.12 of the Indenture, the date of the supplement to the Indenture executed and delivered by such Guarantor or, (b) in the case of any Grantor becoming a party hereto pursuant to Section 7.146.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 2 contracts

Samples: Collateral Agreement (International Wire Rome Operations, Inc.), Collateral Agreement (International Wire Group Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the applicable Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.12, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Lenders.

Appears in 2 contracts

Samples: Guaranty (Aptalis Holdings Inc.), Guaranty (Axcan Intermediate Holdings Inc.)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation or assets of any other Grantor Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Purchase Money Obligation owed to any Secured Party (other, in each case, than a Purchase Money Obligation for the incurrence of which such other Subsidiary Guarantor received fair and adequate consideration) and such other Subsidiary Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 2 contracts

Samples: Purchase Money Loan Guarantee and Collateral Agreement (Sirius Xm Radio Inc.), Collateral Agreement (Sirius Xm Radio Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Limited Brands Inc), Credit Agreement (Limited Brands Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.14, the date of the supplement Guarantee Agreement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Lenders.

Appears in 2 contracts

Samples: Intercreditor Agreement (CC Media Holdings Inc), Security Agreement (Clear Channel Communications Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Grantor on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (Blockbuster Inc), Guarantee and Collateral Agreement (Blockbuster Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor (other than a payment by any Borrower of its Obligations under the Credit Agreement) hereunder in respect of any Obligation Obligations or assets of any other Grantor Guarantor (other than the Company) shall be sold pursuant to any Security Loan Document to satisfy any Obligation owed (other than any such sale of assets of any Borrower to any Secured Party satisfy its Obligations under the Credit Agreement) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.12, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall (subject to Section 3.03) be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Verisign Inc/Ca), Guarantee Agreement (Verisign Inc/Ca)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (SMURFIT-STONE CONTAINER Corp), Credit Agreement (Smurfit Stone Container Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”"CONTRIBUTING PARTY") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”"CLAIMING PARTY") shall not have been fully indemnified by the applicable Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party (a) on the date hereof or (b) if the Contributing Party becomes a party hereto pursuant to Section 7.14, on the date of the supplement hereto executed and delivered by the Contributing Party, and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (orplus, in the case of with respect to any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the net worth of any such Guarantor or Grantor on the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Boise Cascade Holdings, L.L.C.)

Contribution and Subrogation. Each Guarantor and Grantor (for purposes of this Section 3, a "Contributing Party") agrees (subject to Section 6.034 hereof) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party under the Guaranty and such other Guarantor or Grantor (for purposes of this Section 3, the "Claiming Party") shall not have been fully indemnified by the Borrower as provided in Section 6.012, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof of the Guaranty (or, in the case of any Guarantor becoming a party hereto pursuant to Section 17 hereof, the date of the Supplement hereto executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof of the Guaranty (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.1417 hereof, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party 157 pursuant to this Section 6.02 3 shall be subrogated to the rights of such Claiming Party under Section 6.01 2 hereof to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Schnitzer Steel Industries Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than the Borrower) hereunder in respect of any Secured Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value Fair Market Value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.13, the date of the Supplement executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto Supplement executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 6.1 to the extent of such payment.

Appears in 1 contract

Samples: Equal Priority Intercreditor Agreement (Weight Watchers International Inc)

Contribution and Subrogation. Each Guarantor and Grantor (other than Holdings) (a “Contributing Party”"CONTRIBUTING PARTY") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming Party”"CLAIMING PARTY") shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than Holdings) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Pacific Energy Resources LTD)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03Sections 3.03 and 3.04) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 1 contract

Samples: Master Guarantee Agreement (Schiff Nutrition International, Inc.)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Borrowers) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Borrowers) hereunder in respect of any Guaranteed Obligation or assets of any other Grantor Guarantor (other than Holdings and the Borrowers) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.15, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 to the extent of such payment.. Dresser Guarantee and Collateral Agreement 26

Appears in 1 contract

Samples: Credit Agreement (Dresser Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Secured Obligation in respect of which the Contributing Party is liable hereunder or assets of any other Grantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured in respect of which the Contributing Party is liable hereunder and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors liable for such Secured Obligation, or that have granted Liens to secure such Secured Obligation, on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.17, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Harman International Industries Inc /De/)

Contribution and Subrogation. Each Guarantor and Grantor (other than Holdings) (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than Holdings) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Rentech Inc /Co/)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Canadian Secured Obligation or assets of any other Grantor (other than any Canadian Borrower) shall be sold pursuant to any Security Document to satisfy any Canadian Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the each Canadian Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Smurfit Stone Container Corp)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Borrower) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Borrower) hereunder in respect of any Guaranteed Obligation or assets of any other Grantor Guarantor (other than Holdings and the Borrower) shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.15, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Chart Industries Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party (other, in each case, than an Obligation for the incurrence of which such other Guarantor received fair and adequate consideration) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Xm Investment LLC)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than the Borrower) hereunder in respect of any Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor or Grantor that becomes a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming that becomes a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Palm Inc)

Contribution and Subrogation. Each Guarantor and Grantor other than the applicable Borrower having the obligation to indemnify in Section 4.01 (a “Contributing Party”) agrees (subject to Section 6.034.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.014.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment (less any partial indemnification by the Borrowers as provided in Section 4.01) or the greater of the book value or the fair market value of such assetsassets (less any partial indemnification by the Borrowers as provided in Section 4.01), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Contributing Party that is a Guarantor pursuant to Section 5.14. the date of the supplement hereto executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than the applicable Borrower having the obligation to indemnify in Section 4.01) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 4.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 4.01 to the extent of such payment.

Appears in 1 contract

Samples: Intercreditor Agreement (Patheon Inc)

Contribution and Subrogation. Each Guarantor (other than Holdings and Grantor the Borrower) (a “Contributing PartyGuarantor”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor (other than Holdings and the Borrower) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings and the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower Borrower, as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Noranda Aluminum Acquisition CORP)

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Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party") agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the "Claiming Party") shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetspayment, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment. For purposes of this Agreement, "net worth" of any Guarantor as of any date shall mean (a) the amount of the total assets of such Guarantor as of such date minus (b) the amount of the total liabilities of such Guarantor as of such date, in each case that would be reflected on a balance sheet prepared on a consolidated basis as of such date in accordance with GAAP.

Appears in 1 contract

Samples: Guarantee Agreement (American Axle & Manufacturing Holdings Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than the Borrower) hereunder in respect of any Secured Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Collateral Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof of such calculation and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)calculation. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. For the avoidance of doubt, upon the release of any Loan Party from the Secured Obligations pursuant to the Credit Agreement, all rights of any Claiming Loan Party hereunder (and to contribution under applicable law or in equity), against such released Loan Party shall automatically and without any action terminate.

Appears in 1 contract

Samples: Term Credit Agreement (Fossil Group, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party") agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor under the Indenture or hereunder in respect of any Obligation or that assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the "Claiming Party") shall not have been fully indemnified by the Borrower Company as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, (a) in the case of any Guarantor or becoming a party to the Indenture pursuant to Section 4.12 of the Indenture, the date of the supplement to the Indenture executed and delivered by such Guarantor or, (b) in the case of any Grantor becoming a party hereto pursuant to Section 7.146.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 1 contract

Samples: Collateral Agreement (International Wire Group Inc)

Contribution and Subrogation. Each Guarantor and Grantor (other than Holdings) (a “Contributing Party”"CONTRIBUTING PARTY") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Loan Document Obligation or assets of any other Grantor Guarantor (other than Holdings) shall be sold pursuant to any Security Document to satisfy any Loan Document Obligation owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming Party”"CLAIMING PARTY") shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than Holdings) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Pacific Energy Resources LTD)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03SECTION 3.03. ) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation that is guaranteed by the Contributing Party or any assets of any other Grantor Guarantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Credit Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01SECTION 3.01. , the each Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetspayment, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate sum of the respective net worth worths of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14SECTION 5.14. , the date of the supplement hereto executed and delivered by Supplement pursuant to which such Guarantor or Grantorbecame a party hereto). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 SECTION 3.02. shall be subrogated to the rights of such Claiming Party under Section 6.01 SECTION 3.01. to the extent of such payment. For purposes of this Agreement, “net worth” of any Guarantor as of any date shall mean (a) the amount of the total assets of such Guarantor as of such date minus (b) the amount of the total liabilities of such Guarantor as of such date, in each case that would be reflected on a balance sheet prepared on a consolidated basis as of such date in accordance with GAAP.

Appears in 1 contract

Samples: Security Agreement (Zale Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.032.4) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Borrower Obligation or assets of any other Grantor (other than Holdings or the Borrower) shall be sold pursuant to any Security Document to satisfy any Borrower Obligation owed to any Secured Party Lender and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by Holdings and the Borrower as provided in Section 6.012.2, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.148.14, the date of the supplement hereto Assumption Agreement executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 2.3 shall be subrogated to the rights of such Claiming Party under Section 6.01 2.2 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Scientific Games Corp)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a "Contributing PartyGuarantor”) agrees (subject to Section 6.039) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party under this Agreement, and such other Subsidiary Guarantor or Grantor (the "Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.017, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or for which the greater of the book value or the fair market value of such assetsClaiming Guarantor shall not have been so indemnified, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 22, the date of the Supplement hereto executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.1422, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 8 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 7 to the extent of such payment.

Appears in 1 contract

Samples: Credit Facility Agreement (ITT Corp)

Contribution and Subrogation. Each Guarantor and Grantor (each such Guarantor (other than, in the case of any payment referred to in this sentence in respect of any Obligation of such Guarantor, such Guarantor) being called a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets (other than any such payment made by any Guarantor in respect of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party its own Obligations) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower applicable Guarantor, as applicable, as provided in Section 6.013.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)Party. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall (subject to Section 3.03) be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment. Notwithstanding the foregoing, to the extent that any Claiming Party’s right to indemnification hereunder arises from a payment made to satisfy Obligations constituting Swap Obligations, only those Contributing Parties for whom such Swap Obligations do not constitute Excluded Swap Obligations shall indemnify such Claiming Party.

Appears in 1 contract

Samples: Collateral Agreement (Aspen Technology Inc /De/)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than the Borrower) hereunder in respect of any Secured Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value Fair Market Value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.13, the date of the Supplement executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto Supplement executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Weight Watchers International Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.13, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such

Appears in 1 contract

Samples: Security Agreement (Polyone Corp)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a “Contributing PartyGuarantor”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation Guaranteed Obligation, or assets of any other Grantor Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Guaranteed Obligation owed to any Secured Party Guaranteed Party, and such other Subsidiary Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the lesser of (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.14, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 3.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee Agreement (Alion Science & Technology Corp)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a "Contributing Party”Subsidiary Guarantor") agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation Obligation, or assets of any other Grantor Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Guarantor or Grantor (the "Claiming Party”Subsidiary Guarantor") shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party Subsidiary Guarantor shall indemnify the Claiming Party Subsidiary Guarantor in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Subsidiary Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party Subsidiary Guarantor making any payment to a Claiming Party Subsidiary Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Subsidiary Guarantor under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Goamerica Inc)

Contribution and Subrogation. Each Guarantor and Grantor (each such Guarantor or Grantor (other than, in the case of any payment referred to in this sentence in respect of any Obligation of the Borrower) being called a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation (other than any such payment made by the Borrower in respect of its own Obligations) or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed (other than any assets of the Borrower sold to any Secured Party satisfy its own Obligations) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrower, as provided in Section 6.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (the “Indemnified Amount”), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof Closing Date and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties on the date hereof Closing Date (or, in the case of any Guarantor or Grantor Contributing Party becoming a party hereto pursuant to Section 7.147.12, the date of the supplement hereto executed and delivered by such Guarantor or GrantorContributing Party). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Seritage Growth Properties)

Contribution and Subrogation. Each Guarantor and Grantor Grantor, other than the Company, that has guaranteed, or granted Liens to secure, the Obligations (a “Contributing Party”) agrees (subject to Section 6.038.03) that, in the event (a) a payment shall be made by any other Guarantor (other than the Company) hereunder in respect of any Obligation Obligations or (b) assets of any other Grantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Obligations, and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.018.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case THE GOODYEAR TIRE & RUBBER COMPANY SECOND LIEN GUARANTEE AND COLLATERAL AGREEMENT multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Grantors, other than the Company. For the purposes of the previous sentence, the net worth of each Guarantor and Grantor shall be determined on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14Guarantor or Grantor after the date hereof, the date of the supplement hereto executed and delivered by on which such Guarantor or Grantor shall have become a Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 8.01 to the extent of such payment.

Appears in 1 contract

Samples: Execution Version (Goodyear Tire & Rubber Co /Oh/)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Secured Obligation in respect of which the Contributing Party is liable hereunder or assets of any other Grantor (other than the Company) shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured in respect of which the Contributing Party is liable hereunder and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors liable for such Secured Obligation, or that have granted Liens to secure such Secured Obligation, on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.15, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Harman International Industries Inc /De/)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any U.S. Secured Obligation or assets of any other Grantor (other than any Borrower) shall be sold pursuant to any Security Document to satisfy any U.S. Secured Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Holdings as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Smurfit Stone Container Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Notes Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 6.13, the date of the supplement hereto executed and delivered by such Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than the Company) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 1 contract

Samples: Collateral Agreement (Symmetry Holdings Inc)

Contribution and Subrogation. Each Guarantor and Grantor (other than Holdings) (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Holdings) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Holdings) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than Holdings) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Rentech Inc /Co/)

Contribution and Subrogation. Each U.S. Guarantor and Grantor (a “Contributing PartyGuarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other U.S. Guarantor hereunder in respect of any Obligation or assets of any other Grantor U.S. Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other U.S. Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the U.S. Borrower as provided in Section 6.01, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the U.S. Guarantors and Grantors on the date hereof (or, in the case of any U.S. Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorU.S. Guarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Sensus Metering Systems Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Non-US Borrowers as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.13, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Administrative Agent. In respect of any Guarantor organized under the laws of the Federal Republic of Germany, any obligation under this Section 3.02 is subject to the limitations as set out in Section 2.07.

Appears in 1 contract

Samples: Credit Agreement (Om Group Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”Party “) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Guarantor or Grantor (other than the Borrower) shall be sold pursuant to this Agreement, the Pledge Agreement or any other Security Document to satisfy any Obligation owed to any Secured Party or Shared Pledge Obligation and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 6.13 or to the Pledge Agreement pursuant to Section 4.13 thereof, the date of the supplement hereto or to the Pledge Agreement, as the case may be, executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.146.13 or to the Pledge Agreement pursuant to Section 4.13 thereof, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Pledge Agreement (NCR Corp)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a “Contributing PartySubsidiary Guarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation Obligation, or assets of any other Grantor Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Guarantor or Grantor (the “Claiming PartySubsidiary Guarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party Subsidiary Guarantor shall indemnify the Claiming Party Subsidiary Guarantor in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party Subsidiary Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party Subsidiary Guarantor making any payment to a Claiming Party Subsidiary Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Subsidiary Guarantor under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Clearlake Capital Partners, LLC)

Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party") agrees (subject to Section 6.032) that, in the event a payment shall be made by any other Guarantor hereunder in respect of (the "Claiming Party") under the Loan Agreement or any Obligation other Loan Document, or assets of any other Grantor Claiming Party shall be sold pursuant to any Security Loan Document to satisfy a claim of any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01Lender, the Contributing Party shall indemnify the Claiming Party in an amount equal to (a)(i) the amount of such payment or (ii) if no such payment is made and any Lender is the purchaser of the assets, the greater of (A) the book value or of the assets so sold and (B) the fair market value of such assets, as the case may be, in each case multiplied by (b) a fraction of which (x) the numerator shall be the net worth Claiming Party's Allocable Amount (as hereinafter defined) less all payments made by the Claiming Party to date which reduce the principal balance of the Contributing Party on the date hereof Loan, but in no event less than zero and (y) the denominator shall be the aggregate net worth principal balance of the Loan less all the Guarantors and Grantors reductions of principal on the date hereof (orLoan to date; provided, however, such amount shall not be reduced by any reductions in the case principal attributable to payments by a Guarantor in excess of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)Guarantor's Allocable Amount. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 1 shall be subrogated to the rights of such Claiming Party under Section 6.01 1 to the extent of such payment. As used herein, "Allocable Amount" shall mean $17,494,084 for Shelbourne I, $22,081,542 for Shelbourne II, and $15,423,374 for Shelbourne III.

Appears in 1 contract

Samples: Indemnity, Subrogation and Fleet (Shelbourne Properties I Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing PartyGuarantor”) agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation arising from the satisfaction of any Underlying Liability of an applicable Primary Obligor or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document this Agreement to satisfy any Obligation owed to arising from the satisfaction of any Secured Party Underlying Liability of an applicable Primary Obligor and such other Guarantor or Grantor (the “Claiming PartyGuarantor”) shall not have been fully indemnified by the Borrower such Primary Obligor, as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (J P Morgan Chase & Co)

Contribution and Subrogation. Each Guarantor and Grantor Loan Party (a “Contributing Party”) agrees (subject to Section 6.0313(c)) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower or Holdings as provided in Section 6.0113(a), the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (the “Indemnified Amount”), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.1422, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 13(b) shall (subject to Section 13(c)) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Notwithstanding the foregoing, to the extent that any Claiming Party’s right to indemnification hereunder arises from a payment or sale of Collateral made to satisfy Obligations constituting Swap Obligations, only those Contributing Parties for whom such Swap Obligations do not constitute Excluded Swap Obligations shall indemnify such Claiming Party, with the fraction set forth in the second preceding sentence being modified as appropriate to provide for indemnification of the entire Indemnified Amount.

Appears in 1 contract

Samples: Credit Agreement (Trinet Group Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03Sections 2.07, 2.09 and 3.03) that, in the event a payment shall be made by any other Guarantor (other than a payment by any Borrower of its Guaranteed Obligations under the Credit Agreement) hereunder in respect of any Obligation Guaranteed Obligations or assets of any other Grantor Guarantor (other than the Company) shall be sold pursuant to any Security Loan Document to satisfy any Guaranteed Obligation owed (other than any such sale of assets of any Borrower to any Secured Party satisfy its Guaranteed Obligations under the Credit Agreement) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.145.12, the date of the supplement Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall (subject to Section 3.03) be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Verisign Inc/Ca)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Guarantor or Grantor (other than the Company) shall be sold pursuant to this Agreement, the Pledge Agreement or any other Security Document to satisfy any Obligation owed to any Secured Party or Shared Pledge Obligation and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetsassets (the “Indemnified Amount”), as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof Effective Date (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.148.13 or to the Pledge Agreement pursuant to Section 5.13 thereof, the date of the supplement hereto or to the Pledge Agreement, as the case may be, executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the Effective Date (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 8.13 or to the Pledge Agreement pursuant to Section 5.13 thereof, such other date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.under

Appears in 1 contract

Samples: Credit Agreement (NCR Corp)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the applicable Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.11, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

Appears in 1 contract

Samples: WP Prism Inc.

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof Closing Date (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the Closing Date (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, such other date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Costar Group Inc)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation or assets of any other Grantor Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party (other, in each case, than an Obligation for the incurrence of which such other Subsidiary Guarantor received fair and adequate consideration) and such other Subsidiary Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Term Loan Guarantee and Collateral Agreement (Sirius Xm Radio Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to this Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Guaranteed Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Dutch Borrowers as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bepayment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.13, the date of the supplement Guaranty Supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.03 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. Each Guarantor recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted by applicable law, its contribution right against any other Guarantor to the extent that, after giving effect to such waiver, such Guarantor would remain solvent, in the reasonable determination of the Administrative Agent.

Appears in 1 contract

Samples: Dutch Guaranty (Ebi, LLC)

Contribution and Subrogation. Each Guarantor and Grantor (other than Parent Holdings) (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor (other than Parent Holdings) hereunder in respect of any Obligation or assets of any other Grantor Guarantor (other than Parent Holdings) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors (other than Parent Holdings) on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Rentech Inc /Co/)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation Secured Obligations or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document to satisfy any Secured Obligation owed to any Secured Guaranteed Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may bebe (the “Indemnified Amount”), in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14such Guarantor, the date of the supplement hereto executed and delivered by such Guarantor or Grantorother date). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment.

Appears in 1 contract

Samples: Collateral Agreement (Skyline Champion Corp)

Contribution and Subrogation. Each Subsidiary Guarantor and Grantor (a “Contributing Party”) agrees (but subject to Section 6.03the terms, restrictions and limitations set forth in this Subsidiary Guaranty) that, in the event a payment shall be made by any other Subsidiary Guarantor hereunder in respect of any Obligation obligation or assets of any other Grantor Subsidiary Guarantor (other than Parent Guarantor or the Borrower) shall be sold pursuant to any Security Collateral Document to satisfy any Guaranteed Obligation owed to Agent or any Secured Party Lender and such other Subsidiary Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.018(c), the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Subsidiary Guarantors and Grantors on the date hereof (or, in the case of any Subsidiary Guarantor or Grantor becoming a party hereto pursuant to Section 7.14the terms hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorSubsidiary Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 8(c) above) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Healthcare Plus Reit, Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (each such Grantor (other than, in the case of any payment referred to in this sentence in respect of any Obligation of the Borrower or any Domestic Subsidiary Loan Party, the Borrower or such Domestic Subsidiary Loan Party, as applicable) being called a “Contributing Party”) agrees (subject to Section 6.035.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed (other than any assets of the Borrower or of any Domestic Subsidiary Loan Party sold to any Secured Party satisfy its own Obligations) and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower or the applicable Domestic Subsidiary Loan Party, as applicable, as provided in Section 6.015.01, the such Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.14, the date of the supplement hereto executed and delivered by such Guarantor or Grantor)therefor. Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 5.02 shall (subject to Section 5.03) be subrogated to the rights of such Claiming Party under Section 6.01 5.01 to the extent of such payment. Notwithstanding the foregoing, to the extent that any Claiming Party’s right to indemnification hereunder arises from a sale of Collateral made to satisfy Obligations constituting Swap Obligations, only those Contributing Parties for whom such Swap Obligations do not constitute Excluded Swap Obligations shall indemnify such Claiming Party.

Appears in 1 contract

Samples: Collateral Agreement (Aspen Technology Inc /De/)

Contribution and Subrogation. Each Guarantor and Grantor (a "Contributing Party”Guarantor") agrees (subject to Section 6.036.03 hereof) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation arising from the satisfaction of any Underlying Liability of an applicable Primary Obligor or assets of any other Grantor Guarantor shall be sold pursuant to any Security Document this Agreement to satisfy any Obligation owed to arising from the satisfaction of any Secured Party Underlying Liability of an applicable Primary Obligor and such other Guarantor or Grantor (the "Claiming Party”Guarantor") shall not have been fully indemnified by the Borrower such Primary Obligor, as provided in Section 6.016.01 hereof, the Contributing Party Guarantor shall indemnify the Claiming Party Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may beapplicable, in each case multiplied by a fraction of which the numerator shall be the net worth of the such Contributing Party Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.16 hereof, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party Guarantor making any payment to a Claiming Party Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Party Guarantor under Section 6.01 hereof to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Bear Stearns Companies Inc)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or the Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment. SECTION 6.03.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or a Borrower) shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.147.13, the date of the supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such Claiming Party under Section 6.01 to the extent of such payment.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Affinia Group Intermediate Holdings Inc.)

Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to Section 6.033.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.013.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assetspayment, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.144.14, the date of the supplement hereto executed and delivered by such Guarantor or GrantorGuarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 3.02 shall be subrogated to the rights of such Claiming Party under Section 6.01 3.01 to the extent of such payment. For purposes of this Agreement, “net worth” of any Guarantor as of any date shall mean (a) the amount of the total assets of such Guarantor as of such date minus (b) the amount of the total liabilities of such Guarantor as of such date, in each case that would be reflected on a balance sheet prepared on a consolidated basis as of such date in accordance with GAAP.

Appears in 1 contract

Samples: Form of Guarantee Agreement (American Axle & Manufacturing Holdings Inc)

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