REPAYABLE RECOVERIES. If any sum (a "RELEVANT SUM") received or recovered by a Recovering Bank in respect of any amount owing to it by the Borrower becomes repayable and is repaid by such Recovering Bank, then: (i) each Bank which has received a share of such relevant sum by reason of the implementation of Clause 19.1 (PAYMENTS) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and (ii) there shall thereupon fall due from the Borrower to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's share of such relevant sum was applied.
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Samples: Junior Facility Agreement (General Maritime Corp), Junior Facility Agreement (General Maritime Corp), Junior Facility Agreement (General Maritime Corp)
REPAYABLE RECOVERIES. If any sum (a "RELEVANT SUM") received or recovered by a Recovering Bank in respect of any amount owing to it by the Borrower Borrowers becomes repayable and is repaid by such Recovering Bank, then:
(i) each Bank which has received a share of such relevant sum by reason of the implementation of Clause 19.1 (PAYMENTS) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and
(ii) there shall thereupon fall due from the Borrower Borrowers to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's share of such relevant sum was applied.
Appears in 2 contracts
Samples: Junior Facility Agreement (General Maritime Corp), Senior Facility Agreement (General Maritime Corp)
REPAYABLE RECOVERIES. If any sum (a "RELEVANT SUM") received or recovered by a Recovering Bank in respect of any amount owing to it by the Borrower becomes repayable and is repaid by such Recovering Bank, then:
(i) each Bank which has received a share of such relevant sum by reason of the implementation of Clause 19.1 27.1 (PAYMENTSRedistribution of Payments) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and
(ii) there shall thereupon fall due from the Borrower to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (ia) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's share of such relevant sum was applied.
Appears in 2 contracts
Samples: Facility Agreement (Macquarie Infrastructure CO Trust), Facility Agreement (Macquarie Infrastructure Assets Trust)
REPAYABLE RECOVERIES. If any sum (a "RELEVANT SUM"“relevant sum”) received or recovered by a Recovering Bank in respect of any amount owing to it by the Borrower an Obligor becomes repayable and is repaid by such Recovering Bank, then:
(i) each Bank which has received a share of such relevant sum by reason of the implementation of Clause 19.1 22.1 (PAYMENTSRedistribution of Payments) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and
(ii) there shall thereupon fall due from the Borrower Obligor to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's ’s share of such relevant sum was applied.
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