Common use of Rectification Clause in Contracts

Rectification. If any amount paid pursuant to a Transaction Document (other than by or to the Facility Agent) shall be determined (after consultation in good faith between the Transaction Parties which are parties to the relevant Transaction Document) to have been incorrect, the Transaction Parties shall consult in good faith in order to agree upon an appropriate method for rectifying such error so that the amounts subsequently received and retained by all relevant Transaction Parties are those which they would have received and retained if no such error had been made.

Appears in 4 contracts

Samples: Amendment Agreement (Greif, Inc), Master Definitions Agreement (Greif Inc), Master Definitions Agreement (Greif Inc)

AutoNDA by SimpleDocs

Rectification. If any amount paid pursuant to a Transaction Document (other than by or to the Facility AgentTrustee) shall be determined (after consultation in good faith between the Transaction Parties which are parties to the relevant Transaction Document) to have been incorrect, the Transaction Parties shall consult in good faith in order to agree upon an appropriate method for rectifying such error so that the amounts subsequently received and retained by all relevant Transaction Parties are those which they would have received and retained if no such error had been made.

Appears in 2 contracts

Samples: Incorporated Terms Memorandum (Apollo Commercial Real Estate Finance, Inc.), Incorporated Terms Memorandum

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!