Common use of Equitable Allocation Clause in Contracts

Equitable Allocation. If as a result of any reorganization, recapitalization, or other corporate change in the Borrower or any of its Subsidiaries, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section become inequitable as among the Guarantors, the Guarantors shall promptly modify and amend this Section to provide for an equitable allocation of contributions. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantors.

Appears in 3 contracts

Samples: Guaranty and Contribution Agreement (Interstate Hotels & Resorts Inc), Guaranty and Contribution Agreement (Lasalle Hotel Properties), Guaranty and Contribution Agreement (Lasalle Hotel Properties)

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Equitable Allocation. If as a result of any reorganization, recapitalization, recapitalization or other corporate change in the Borrower Company or any of its Subsidiaries, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section 9.06 become inequitable as among the Guarantors, the Guarantors shall promptly modify and amend this Section 9.06 to provide for an equitable allocation of contributions. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantors.

Appears in 2 contracts

Samples: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)

Equitable Allocation. If as a result of any reorganization, recapitalization, or other corporate similar change in the Borrower or any of its Subsidiaries, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section become inequitable as among the Guarantors, the Guarantors shall promptly modify and amend this Section to provide for an equitable allocation of contributions. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantors.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Equitable Allocation. If as a result of any reorganization, recapitalization, or other corporate change in the Borrower or any Affiliate or guarantor of its Subsidiariesthe Borrower, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this governing the Credit Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section Agreement become inequitable as among between the Corporate Guarantors, the Guarantors parties hereto shall promptly modify and amend this Section Agreement to provide for an equitable allocation of contributionsthe contributions as between the Corporate Guarantors. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantorsparties hereto.

Appears in 1 contract

Samples: Pledge Agreement (Actava Group Inc)

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Equitable Allocation. If as a result of any reorganization, recapitalization, recapitalization or other corporate change in the Borrower or any of its Subsidiaries, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section 9.06 become inequitable as among the Guarantors, the Guarantors shall promptly modify and amend this Section 9.06 to provide for an equitable allocation of contributions. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantors.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Equitable Allocation. If as a result of any reorganization, recapitalization, or other corporate change in the Borrower or any of its Subsidiariesthe Guarantors, or as a result of any amendment, waiver or modification of the terms and conditions of other Sections of this Guaranty Agreement or the Guaranteed Obligations, or for any other reason, the contributions under this Section become inequitable as among the Guarantors, the Guarantors shall promptly modify and amend this Section 1.11 to provide for an equitable allocation of contributions. Any of the foregoing modifications and amendments shall be in writing and signed by all Guarantors.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cross Timbers Oil Co)

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