Lenders' Sharing Arrangement Clause Samples
The Lenders' Sharing Arrangement clause establishes how multiple lenders involved in a loan agreement will share payments, recoveries, and losses among themselves. In practice, this clause ensures that any repayments from the borrower, as well as proceeds from enforcement actions or collateral, are distributed proportionally to each lender based on their respective share of the loan. This arrangement prevents any single lender from receiving preferential treatment or recovering more than their fair share, thereby promoting fairness and coordination among all participating lenders.
Lenders' Sharing Arrangement. Each of the Lenders agrees that if it should receive any amount (whether by voluntary payment, realization upon security, the exercise of the right of set-off, or otherwise) which is applicable to the payment of the principal of, or interest or fees on, the Advances, of an amount that with respect to the related sum or sums received (or receivable) by the other Lenders is in greater proportion than that Lender’s Pro Rata ownership of the Loan, then such Lender receiving such excess amount shall purchase from the other Lenders an interest in the obligations of the Companies under this Agreement or any of the Facilities Papers in such amount as shall result in a proportional participation by all of the Lenders in such excess amount; provided that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery; and further provided that the provisions of this Section 14.6 shall not apply to the Agent’s Fees under this Agreement or to any fees which the Agent or successor custodian might be paid pursuant to the Custody Agreement.
Lenders' Sharing Arrangement. (a) Each of the Lenders agrees that if it should receive any amount (whether by voluntary payment, realization upon security, the exercise of the right of set-off, or otherwise) which is applicable to the payment of the principal of, or interest or fees on, any Loans, of an amount that with respect to the related sum or sums received (or receivable) by the other Lenders is in greater proportion than that Lender’s Pro Rata share of the Loans, then such Lender receiving such excess amount shall purchase from the other Lenders an interest in the Obligations of the Borrowers under this Agreement or any of the Loan Documents in such amount as shall result in a proportional participation by all of the Lenders in such excess amount; provided that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery; and further provided that the provisions of this Section 11.2 shall not apply to the Administrative Fees under the Repurchase Agreement.
(b) Each Lender acknowledges that they have rights to each Borrower’s rights (but not the obligations) under the Repurchase Agreement and have been granted a Lien thereon as additional security. Each Lender agrees for the sole benefit of the Buyers under the Repurchase Agreement that any rights under the Repurchase Agreement that are for the benefit of the Lenders under this Agreement shall be subordinate and junior to any rights of the Buyers thereunder.
Lenders' Sharing Arrangement. 100 13.7 Lenders' Acknowledgment ...........................100 13.8 Agent's Representations to Lenders ................100 13.9 Agent's Duty of Care, Express Negligence Waiver and Release .......................................101 13.10 Calculations of Shares of Principal and Other Sums ........................................101 13.11 Qualifications of the Agent .......................101 13.12 Resignation of the Agent ..........................102 13.13 Removal of the Agent ..............................102 13.14 Effective Date of Resignation or Removal ..........102 13.15
Lenders' Sharing Arrangement. 100 Section 11.16 Application of Collateral Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Section 11.17 Credit Decision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Section 11.18 Information Concerning Other Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Section 11.19 Expense Reimbursement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Section 11.20 Indemnification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 Section 11.21
Lenders' Sharing Arrangement. Each of the Lenders agrees that if it should receive any amount (whether by voluntary payment, realization upon security, the exercise of the right of set-off, or otherwise) which is applicable to the payment of the principal of, or interest on, the Seasoned Warehouse Revolving Loans, or fees, of an amount that with respect to the related sum or sums received (or receivable) by the other Lenders is in greater proportion than that Lender's Pro Rata ownership of the Seasoned Warehouse Revolving Loans, then such Lender receiving such excess amount shall purchase from the other Lenders an interest in the obligations of the Companies under this Agreement or any of the Seasoned Warehouse Loan Documents in such amount as shall result in a proportional participation by all of the Seasoned Warehouse Lenders in such excess amount; provided that if all or any portion of such excess amount is thereafter recovered from such Seasoned Warehouse Lender, such purchase shall be rescinded, the purchase price restored to the extent of such recovery and allocations of interest on and fees (if any) related to such excess shall be equitably adjusted among the affected Seasoned Warehouse Lenders.
Lenders' Sharing Arrangement. 70 14.7 Lenders' Acknowledgment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 14.8 Agent's Representations to Lenders. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 14.9 Agent's Duty of Care, Express Negligence Waiver and Release. . . . . . . . . . . . . . . . . . . 71 14.10 Calculations of Shares of Principal and Other Sums. . . . . . . . . . . . . . . . . . . . . . . . 71 14.11 Qualifications of the Seasoned Warehouse Agent. . . . . . . . . . . . . . . . . . . . . . . . . . 72 14.12 Resignation of the Seasoned Warehouse Agent. . . . . . . . . . . . . . . . . . . . . . . . . . . 72 14.13 Removal of the Seasoned Warehouse Agent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 14.14 Effective Date of Resignation or Removal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 14.15
Lenders' Sharing Arrangement. Each of the Lenders agrees that if it should receive any amount (whether by voluntary payment, realization upon security, the exercise of the right of set-off, or otherwise) which is applicable to the payment of the principal of, or interest or fees on, the Advances, of an amount that with respect to the related sum or sums received (or receivable) by the other Lenders is in greater proportion than that Lender’s Warehousing Commitment Percentage, then such Lender receiving such excess amount shall purchase from the other Lenders an interest in the obligations of the Company under this Agreement in such amount as shall result in a proportional participation by all of the Lenders in such excess amount; provided that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery; and further provided the provisions of this Section shall not be construed to apply to any payment made by the Company pursuant to and in accordance with the express terms of this Agreement or any other Facility Document.