Common use of Contribution with Respect to Guaranty Obligations Clause in Contracts

Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lenders) of, or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocable Share (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.

Appears in 3 contracts

Samples: Credit Agreement (Bellingham II Associates, L.L.C.), Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Brookdale Senior Living Inc.)

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Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Allocated Loan Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lendersLenders) of, or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocable Share Allocated Loan Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit this Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Allocated Loan Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.

Appears in 3 contracts

Samples: Loan Agreement (Healthcare Trust, Inc.), Loan Agreement (Healthcare Trust, Inc.), Loan Agreement (CareTrust REIT, Inc.)

Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the "Overpaying Borrower") incurs (i) any payment in excess of its Allocable Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lenders) of, or the delivery of deeds in lieu of foreclosure relating to it its Collateral, and the value of such Collateral exceeded its Allocable Share (the "Overpayment Amount"), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s 's then current Allocable Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.

Appears in 2 contracts

Samples: Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Brookdale Senior Living Inc.)

Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lenders) of, or the delivery of deeds in lieu of foreclosure relating to it its Collateral, and the value of such Collateral exceeded its Allocable Share Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Allocated Loan Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lendersLenders) of, or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocable Share Allocated Loan Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit this Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Allocated Loan Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.. LOAN AGREEMENT – PAGE 116 HTI MOB Portfolio

Appears in 1 contract

Samples: Loan Agreement (Healthcare Trust, Inc.)

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Contribution with Respect to Guaranty Obligations. (i) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Allocated Loan Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lendersthe Lenders) of, or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocable Share Allocated Loan Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to the Lenders under the Credit this Agreement, to contribution from each of the benefited Borrowers, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Allocated Loan Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.

Appears in 1 contract

Samples: Loan Agreement (Care Capital Properties, Inc.)

Contribution with Respect to Guaranty Obligations. (iA) To the extent that any Borrower (the “Overpaying Borrower”) incurs (i) any payment in excess of its Allocable Allocated Loan Amount, or (ii) a loss of its Collateral due to the foreclosure (or other realization by lendersLenders) of, or the delivery of deeds in lieu of foreclosure relating to it Collateral, and the value of such Collateral exceeded its Allocable Share Allocated Loan Amount (the “Overpayment Amount”), then such Overpaying Borrower shall be entitled, after indefeasible payment in full and the satisfaction of all Obligations to Lenders under the Credit this Agreement, to contribution from each of the benefited BorrowersBorrower, on a pro rata basis, for the amounts so paid, advanced or benefited, in an amount equal to the difference between the Overpayment Amount and such benefited Borrower’s then current Allocable Allocated Loan Amount. Any such contribution payments shall be made within ten (10) Business Days after demand therefor.. LOAN AGREEMENT – Page 101[Heritage Wxxxx]

Appears in 1 contract

Samples: Loan Agreement (Cornerstone Core Properties REIT, Inc.)

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