Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 7 contracts
Samples: Credit Agreement (West Corp), Credit Agreement (Team Health Holdings Inc.), Credit Agreement (West Customer Management Group, LLC)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.147.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 6 contracts
Samples: Pledge and Security Agreement (Sabre Corp), Pledge and Security Agreement, Pledge and Security Agreement (Sabre Corp)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.02) that, in the event assets of any other Subsidiary Party Grantor (the “Claiming Party”) shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.01 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 6 contracts
Samples: Credit Agreement (ServiceTitan, Inc.), Credit Agreement (ServiceTitan, Inc.), Security Agreement (Heinz H J Co)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Notes Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Issuer as provided in Section 4.015.01, 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 Grantors on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party under Section 5.01 to the extent of such payment.
Appears in 6 contracts
Samples: Collateral Agreement (American Media Inc), Collateral Agreement (American Media Inc), Collateral Agreement (Ami Celebrity Publications, LLC)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document relating to the Notes to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Issuer as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 5 contracts
Samples: Intellectual Property Security Agreement (Freescale Semiconductor, Ltd.), Intellectual Property Security Agreement (Freescale Semiconductor, Ltd.), Intellectual Property Security Agreement (Freescale Semiconductor, Ltd.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Secured Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.15, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 5 contracts
Samples: Credit Agreement, Pledge and Security Agreement, Amendment and Restatement Agreement (Sabre Corp)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 5 contracts
Samples: Pledge and Security Agreement (VPNet Technologies, Inc.), Security Agreement (Pinnacle Foods Finance LLC), Security Agreement (ReAble Therapeutics Finance LLC)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document relating to the Notes to satisfy any Secured Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Issuer as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 4 contracts
Samples: Security Agreement (Freescale Semiconductor, Ltd.), Security Agreement (Freescale Semiconductor, Ltd.), Security Agreement (Freescale Semiconductor Inc)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 4 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement (Avaya Inc), Pledge and Security Agreement (Avaya Inc)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Secured Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 4 contracts
Samples: Credit Agreement (West Corp), Credit Agreement (West Customer Management Group, LLC), Credit Agreement (West Corp)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document relating to the Notes to satisfy any Secured Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Issuer as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 3 contracts
Samples: Intellectual Property Security Agreement (Freescale Semiconductor Holdings I, Ltd.), Intellectual Property Security Agreement (Freescale Semiconductor Inc), Intellectual Property Security Agreement (Freescale Semiconductor Holdings I, Ltd.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Ebi, LLC), Pledge and Security Agreement (LVB Acquisition, Inc.), Pledge and Security Agreement (Biolectron, Inc.)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the relevant Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 2 contracts
Samples: Security Agreement (Encore Medical, L.P.), Security Agreement (S.D. Shepherd Systems, Inc.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.15, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 2 contracts
Samples: Pledge and Security Agreement (LVB Acquisition, Inc.), Pledge and Security Agreement (Biolectron, Inc.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Parent Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.13, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Aptalis Holdings Inc.), u.s. Security Agreement (WP Prism Inc.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 2 contracts
Samples: Intellectual Property Security Agreement (Freescale Semiconductor Holdings I, Ltd.), Intellectual Property Security Agreement (Freescale Semiconductor Inc)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the relevant Borrower as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Samples: Intellectual Property Security Agreement (Sungard Data Systems Inc)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Borrowers as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.13, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Samples: Pledge and Security Agreement (Axcan Intermediate Holdings Inc.)
Contribution and Subrogation. Each Subsidiary Party Grantor (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party Grantor shall be sold pursuant to any Collateral Security Document to satisfy any Obligation owed to any Secured Party Party, and such other Subsidiary Party Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.15, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.035.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Security Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.015.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.146.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Samples: Credit Agreement (Targa Resources Investments Inc.)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.034.03 hereof) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Security Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower Company as provided in Section 4.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.145.14 hereof, the date of the Intellectual Property Security Agreement Supplement executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Samples: Intellectual Property Security Agreement (West Corp)
Contribution and Subrogation. Each Subsidiary Party (a “Contributing Party”) agrees (subject to Section 4.036.03) that, in the event assets of any other Subsidiary Party shall be sold pursuant to any Collateral Document to satisfy any Obligation owed to any Secured Party and such other Subsidiary Party (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 4.016.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, 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 Grantors Contributing Parties together with the net worth of the Claiming Party on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 5.147.14, the date of the Intellectual Property Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 6.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment.
Appears in 1 contract
Samples: Security Agreement (Transcultural Health Develpment, Inc.)