Common use of Redistribution of payments Clause in Contracts

Redistribution of payments. If at any time, the proportion which any Bank (a "RECOVERING BANK") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENT") to be made under this Agreement by the Borrower for account of such Recovering Bank and one or more other Banks is greater (the portion of such receipt or recovery giving rise to such excess proportion being herein called an "EXCESS AMOUNT") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereof, then: (i) such Recovering Bank shall pay to the Agent an amount equal to such excess amount; (ii) there shall thereupon fall due from such Recovering Bank an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were an unpaid part of such Recovering Bank's portion of such relevant payment; and (iii) the Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (i) above as if such amount had been received by it from the Borrower in respect of such relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA to their respective entitlements thereto.

Redistribution of payments. If at any time, the proportion which any Bank (a "RECOVERING BANK") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENT") to be made under this Agreement by the Borrower Borrowers for account of such Recovering Bank and one or more other Banks is greater (the portion of such receipt or recovery giving rise to such excess proportion being herein called an "EXCESS AMOUNT") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereof, then: (i) such Recovering Bank shall pay to the Agent an amount equal to such excess amount; (ii) there shall thereupon fall due from such Recovering Bank an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were an unpaid part of such Recovering Bank's portion of such relevant payment; and (iii) the Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (i) above as if such amount had been received by it from the Borrower Borrowers in respect of such relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA to their respective entitlements thereto.

Redistribution of payments. If at any time, time the proportion which any Bank (a "RECOVERING BANK") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENT") to be made under this Agreement by the Borrower for account of such Recovering Bank and one or more other Banks ("THE RELEVANT PAYMENT") is greater (the portion amount of such receipt or recovery giving rise to such the excess proportion being herein called an "THE EXCESS AMOUNT") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereofthereof (which shall include a nil receipt), then: (i) such Recovering Bank shall promptly pay to the Agent an amount equal to such the excess amount; (ii) there shall thereupon fall due from such Recovering Bank the Borrower an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (i) above), the amount so due being, for the purposes hereofof this Clause, treated as if it were an unpaid part of such Recovering Bank's portion of such the relevant payment; and (iii) the Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (i) above as if such amount had been received by it from the Borrower in respect of such the relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA pro rata to their respective entitlements thereto, Provided always that this Clause 27.1 shall not oblige the Borrower at any time to pay an amount in excess of the aggregate amount of all sums, whether actual or contingent, expressed to be then due and payable by the Borrower pursuant to the terms of this Agreement.

Redistribution of payments. If If, at any time, the proportion which any Bank (a "RECOVERING BANKRecovering Bank") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENTrelevant payment") to be made under this Agreement [or any Xxxx of Exchange] by the Borrower any Transaction Party for account of such Recovering Bank and one or more other Banks is greater (the portion of such receipt or recovery giving rise to such excess proportion being herein called an "EXCESS AMOUNTexcess amount") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereof, then: (ia) such Recovering Bank shall inform the Agent of such receipt or recovery and pay to the Agent an amount equal to such excess amount; (iib) [(in the case of a relevant payment made under this Agreement)] there shall thereupon fall due from the relevant Transaction Party to such Recovering Bank an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (ia) above, the amount so due being, for the purposes hereof, treated as if it were an unpaid part of such Recovering Bank's portion of such relevant payment; and (iiic) the Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (ia) above as if such amount had been received by it from the Borrower relevant Transaction Party in respect of such relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA pro rata to their respective entitlements thereto.

Redistribution of payments. If Subject to Clause 21.3 (Recoveries Through Legal Proceedings), if, at any time, the proportion which any Bank (a "RECOVERING BANKRecovering Bank") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENTrelevant payment") to be made under this Agreement by any of the Borrower Obligors for account of such Recovering Bank and one or more other Banks is greater (the portion of such receipt or recovery giving rise to such excess proportion being herein called an "EXCESS AMOUNTexcess amount") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereof, then: (i) 21.1.1 such Recovering Bank shall pay to the Facility Agent an amount equal to such excess amount; (ii) 21.1.2 there shall thereupon fall due from such Obligor to such Recovering Bank an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (i) sub-Clause 21.1.1 above, the amount so due being, for the purposes hereof, treated as if it were an unpaid part of such Recovering Bank's portion of such relevant payment; and (iii) 21.1.3 the Facility Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (i) sub-Clause 21.1.1 above as if such amount had been received by it from the Borrower such Obligor in respect of such relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA pro rata to their respective entitlements thereto, (a) (Payments by the Facility Agent) such portion of such excess amount as is so attributable shall not be required to be shared pursuant hereto.

Redistribution of payments. If at any time, the proportion which any Bank (a "RECOVERING BANK") has received or recovered (whether by payment, the exercise of a right of set-off or combination of accounts or otherwise) in respect of its portion of any payment (a "RELEVANT PAYMENT") to be made under this Agreement by the Borrower for account of such Recovering Bank and one or more other Banks is greater (the portion of such receipt or recovery giving rise to such excess proportion being herein called an "EXCESS AMOUNTamount") than the proportion thereof so received or recovered by the Bank or Banks so receiving or recovering the smallest proportion thereof, then: (i) such Recovering Bank shall pay to the Agent an amount equal to such excess amount; (ii) there shall thereupon fall due from such Recovering Bank an amount equal to the amount paid out by such Recovering Bank pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were an unpaid part of such Recovering Bank's portion of such relevant payment; and (iii) the Agent shall treat the amount received by it from such Recovering Bank pursuant to paragraph (i) above as if such amount had been received by it from the Borrower in respect of such relevant payment and shall pay the same to the persons entitled thereto (including such Recovering Bank) PRO RATA to their respective entitlements thereto.