Common use of Pro Rata Payment Clause in Contracts

Pro Rata Payment. If the Borrower is not able to pay to the holders of the Amended 2008 Notes the full amounts due at any time when payments under the Amended 2008 Notes become due and payable by the Borrower, either on the Maturity Date or upon the occurrence of an Event of Default, the holders of the Amended 2008 Notes shall share ratably in any distribution of the Borrower pro rata in proportion to the respective amounts of each such holder’s Amended 2008 Notes.

Pro Rata Payment. If the Borrower is not able to pay to the holders of the Second Amended 2008 Notes the full amounts due at any time when payments under the Second Amended 2008 Notes become due and payable by the Borrower, either on the Maturity Date or upon the occurrence of an Event of Default, the holders of the Second Amended 2008 Notes shall share ratably in any distribution of the Borrower pro rata in proportion to the respective amounts of each such holder’s Second Amended 2008 Notes.