Common use of Equalization Clause in Contracts

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any Advantage over the other Banks or any thereof in respect of the Loans it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the Loans owing to the other or others as shall be necessary to nullify the Advantage. If any such Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the Advantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the Advantage) ratably to the extent of the recovery. During the existence of any Potential Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any Indebtedness owing by the Borrower to any Bank shall be applied to the Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other Indebtedness owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any Advantage advantage over the other Banks or any thereof in respect of the Loans subject indebtedness it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the Loans subject indebtedness owing to the other or others as shall be necessary to nullify the Advantageadvantage. If any such Advantage advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the Advantageadvantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the Advantageadvantage) ratably to the extent of the recovery. During the existence of any Potential Defaultdefault under this Agreement, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any Indebtedness indebtedness for borrowed money owing by the Borrower to any Bank shall be applied to the Obligations subject indebtedness owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other Indebtedness indebtedness for borrowed money owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any Advantage over the other Banks or any thereof in respect of the Loans Advances it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the Loans Advances owing to the other or others as shall be necessary to nullify the Advantage. If any such Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the Advantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the Advantage) ratably to the extent of the recovery. During the existence of any Potential Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any Indebtedness owing by the Borrower to any Bank shall be applied to the Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other Indebtedness owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any Advantage over the other Banks or any thereof in respect of the Loans it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the Loans owing to the other or others as shall be necessary to nullify the Advantage. If any such Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the Advantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the Advantage) ratably to the extent of the recovery. During the existence of any Potential Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any Indebtedness owing by the Borrower to any Bank shall be applied to the Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other Indebtedness owing to that Bank.. This

Equalization. Each Bank agrees with the other Banks Bank that if at any time it shall obtain any Advantage over the other Banks Bank or any thereof in respect of the Loans Subject Indebtedness it will purchase from such other Bank or BanksBank, for cash and at par, such additional participation in the Loans Subject Indebtedness owing to the other or others as shall be necessary to nullify the Advantage. If any such Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the Advantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the Advantage) ratably Ratably to the extent of the recovery. During the existence of any Potential Event of Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any Indebtedness indebtedness for borrowed money owing by the Borrower to any Bank shall be applied to the Obligations Subject Indebtedness owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other Indebtedness indebtedness for borrowed money owing to that Bank.