Common use of Reversal of redistribution Clause in Contracts

Reversal of redistribution. If under Clause 29.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 9 contracts

Samples: Syndicated Credit Facility Agreement (Reuters Group PLC /Adr/), Syndicated Credit Facility (Reuters Group PLC /Adr/), 364 Day Facility Agreement (Vodafone Group Public LTD Co)

AutoNDA by SimpleDocs

Reversal of redistribution. If under Clause 29.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement. Each Finance Party agrees with the Facility Agent that it will comply with any notice given to it by the Facility Agent under this Clause 29.2.

Appears in 9 contracts

Samples: Facility Agreement (Liberty Global, Inc.), Credit Agreement (Liberty Global, Inc.), Amendment and Restatement Agreement (Unitedglobalcom Inc)

Reversal of redistribution. If under Clause 29.1 (Redistribution): (a) 29.2.1 a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) 29.2.2 the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e) (Redistribution) 29.1.5 will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Samples: Revolving Credit Facility Agreement (British American Tobacco p.l.c.), Revolving Credit Facility (British American Tobacco p.l.c.), Term Loan Agreement (British American Tobacco p.l.c.)

Reversal of redistribution. If under Clause 29.1 (Redistribution): (a) a recovering Recovering Finance Party must subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligor; and (b) the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Finance Party shall, within three Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Samples: 5 Year Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co)

Reversal of redistribution. If under Clause 29.1 28.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e28.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Revolving Credit Facility (Syngenta Ag), Term and Revolving Credit Facility (Powergen PLC)

Reversal of redistribution. If under Clause 29.1 31.1 (Redistribution): Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligora Borrower; and and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.. 31.3

Appears in 2 contracts

Samples: Credit Facility Agreement (Entergy London Capital Lp), Credit Facility Agreement (System Energy Resources Inc)

Reversal of redistribution. If under Clause 29.1 (Redistribution):Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Credit Facility Agreement (Lg Electronics Inc), Credit Facility Agreement (Lg Electronics Inc)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution): (a) a recovering Recovering Finance Party must subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligor; and (b) the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Finance Party shall, within three Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co)

Reversal of redistribution. If under Clause 29.1 28.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e28.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Multicurrency Revolving Credit Facility (Scottish Power PLC), Multicurrency Revolving Credit Facility (Scottish Power PLC)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution):Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Facility Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Credit Facility Agreement (Azurix Corp), Credit Facility (Azurix Corp)

Reversal of redistribution. If under Clause 29.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligora Borrower; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Revolving Credit Facility (S Acquisition Corp), Revolving Credit Facility (WDR Acquisition Corp)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e30.l(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Supplemental Agreement (Txu Europe LTD)

Reversal of redistribution. If under Clause 29.1 32.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in paragraph (e) of Clause 29.1(e) 32.1 (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Loan Agreement (National Grid Group P L C)

AutoNDA by SimpleDocs

Reversal of redistribution. If under Clause 29.1 32.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e32.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Waterford Wedgwood PLC)

Reversal of redistribution. If under Clause 29.1 29.2 (RedistributionRedistribution of payments): (a) 29.4.1 a recovering Recovering Finance Party must subsequently return a recoveryRecovery, or an amount measured by reference to a recoveryRecovery, to an Obligorthe Borrower; and (b) 29.4.2 the recovering Recovering Finance Party has paid a redistribution Redistribution in relation to that recoveryRecovery, each Finance Party shall, within three (3) Business Days of demand by the recovering Recovering Finance Party through the Agent, reimburse the recovering Recovering Finance Party all or the appropriate portion of the redistribution Redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e) 29.2 (RedistributionRedistribution of payments) will operate in reverse to the extent of the reimbursementreimbursement (including the reversals of the assignments contemplated therein).

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Mercer International Inc.)

Reversal of redistribution. If under Clause 29.1 32.1 (Redistribution):Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e32.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Facility (Cobe Laboratories Inc)

Reversal of redistribution. If under Clause 29.1 33.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Company; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e33.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility Agreement (Scottish Power PLC)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution): (a) a recovering Junior Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Junior Finance Party has paid a redistribution in relation to that recovery, each Junior Finance Party shall, within three Business Days of demand by the recovering Junior Finance Party through the Junior Agent, reimburse the recovering Junior Finance Party all or the appropriate portion of the redistribution paid to that Junior Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Junior Mortgage Loan Facility (Wilshire Real Estate Investment Trust Inc)

Reversal of redistribution. If under Clause 29.1 (Redistribution): Redistribution):- (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three 3 Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon Thereupon, the subrogation in Clause 29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.. 29.3

Appears in 1 contract

Samples: Credit Agreement (Entergy Power Uk PLC)

Reversal of redistribution. If under Clause 29.1 30.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within three Business Days of demand by the recovering Finance Party through the Agent, reimburse the recovering Finance Party all or the appropriate portion of the redistribution paid to that Finance Party. Thereupon the subrogation in Clause 29.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility (Scottish Power PLC)

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