Common use of Reimbursement by Lxxxxxx Clause in Contracts

Reimbursement by Lxxxxxx. To the extent that any Borrower for any reason fails to indefeasibly pay any amount required under Section 15 to be paid by it to Administrative Agent (or any sub-agent thereof), or any Affiliate of any of the foregoing, each Lender severally agrees to pay to Administrative Agent (or any such sub-agent) or such Affiliate, as the case may be, such Lxxxxx’s proportionate share (determined with respect to the outstanding principal balance of the Advances made by such Lender as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against Administrative Agent (or any such sub-agent) or against any Affiliate of any of the foregoing acting for Administrative Agent (or any such sub-agent) in connection with such capacity.

Appears in 2 contracts

Samples: Loan and Security Agreement (Offerpad Solutions Inc.), Loan and Security Agreement (Offerpad Solutions Inc.)

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Reimbursement by Lxxxxxx. To the extent that any the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section 15 to be paid by it to the Administrative Agent (or any sub-agent thereof), ) or any Affiliate Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such AffiliateRelated Party, as the case may be, such Lxxxxx’s proportionate share Applicable Percentage (determined with respect to the outstanding principal balance of the Advances made by such Lender as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or against any Affiliate Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent). The obligations of the Lenders under this subsection (c) in connection with such capacityare subject to the provisions of Section 2.13(d).

Appears in 1 contract

Samples: Term Loan Agreement (Agree Realty Corp)

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Reimbursement by Lxxxxxx. To the extent that any the Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section 15 to be paid by it to the Administrative Agent (or any sub-agent thereof), ) or any Affiliate Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) ), or such AffiliateRelated Party, as the case may be, such Lxxxxx’s proportionate share applicable Applicable Percentage (determined with respect to the outstanding principal balance of the Advances made by such Lender as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) in its capacity as such, or against any Affiliate Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.13(d).

Appears in 1 contract

Samples: Credit Agreement (Franklin Street Properties Corp /Ma/)

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