Common use of Reversal of redistribution Clause in Contracts

Reversal of redistribution. If under Clause 31.1 (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 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Samples: Revolving Credit Facility (Spirent PLC), Facility Agreement (Spirent PLC), Supplemental Agreement (Spirent PLC)

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Reversal of redistribution. If under Clause 31.1 30.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligorthe Borrower; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistribution. Thereupon, Thereupon the subrogation in Clause 31.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

Reversal of redistribution. If under Clause 31.1 (Redistribution):32.1: (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution32.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Credit Agreement (Vivendi Universal), Facility Agreement (Vivendi Universal)

Reversal of redistribution. If under Clause 31.1 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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e32.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Facility Agreement (Adecco Sa), Loan Agreement (Adecco Sa)

Reversal of redistribution. If under Clause 31.1 33.1 (Redistribution): (a) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e33.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Credit Agreement (Adecco Sa), Credit Facility Agreement (Rexam Acquisition Subsidiary Inc)

Reversal of redistribution. If under Clause 31.1 (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the a period whilst it held the redistributionre-distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 2 contracts

Samples: Facilities Agreement (Autoliv Inc), Revolving Credit Facility (Toreador Resources Corp)

Reversal of redistribution. If under Clause 31.1 29.1 (Redistribution):Redistribution):- (aA) a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (bB) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e29.1(E) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Facility Agreement (Tomkins PLC)

Reversal of redistribution. If under Clause 31.1 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 Obligora Borrower; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit Facility (Adecco Sa)

Reversal of redistribution. If under Clause 31.1 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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the a period whilst it held the redistributionre-distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit Facility (Txu Europe LTD)

Reversal of redistribution. If under Clause 31.1 29.1 (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 3 (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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e29.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit Facility (Anglogold Ashanti LTD)

Reversal of redistribution. If under Clause 31.1 (Redistribution30.1(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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Credit Agreement (British Energy Group PLC)

Reversal of redistribution. If under Clause 31.1 (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre- distribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility (Ti Group PLC)

Reversal of redistribution. If under Clause 31.1 (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistribution. Thereupon, Thereupon the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Credit Facility Agreement (Teekay LNG Partners L.P.)

Reversal of redistribution. If under Clause 31.1 β€Ž33.1 (Redistribution): (a) 33.2.1 a recovering Finance Party must subsequently return a recovery, or an amount measured by reference to a recovery, to an Obligor; and (b) 33.2.2 the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the a period whilst it held the redistributionre-distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e) β€Ž33.1.5 (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Autoliv Inc)

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Reversal of redistribution. If under Clause 31.1 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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution30.1(e) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Syndicated Loan Facility (Anglogold Ashanti LTD)

Reversal of redistribution. If under Clause 31.1 (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 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistribution. Thereupon, the subrogation in Clause 31.1(e31.l(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Credit Agreement (Spirent PLC)

Reversal of redistribution. If under Clause 31.1 (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e) 31.1 (Redistributione) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility Agreement (Schneider Electric Sa)

Reversal of redistribution. If under Clause 31.1 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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre- distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e32.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Revolving Advance and Letter of Credit Facility (Independent Energy Holdings PLC)

Reversal of redistribution. If under Clause 31.1 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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e30.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Credit Agreement (Adecco Sa)

Reversal of redistribution. If under Clause 31.1 (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Syndicated Bridge Loan Facility (Anglogold Ashanti LTD)

Reversal of redistribution. If under Clause 31.1 (Redistribution):31.1: (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 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre- distribution. Thereupon, the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Facility (Cousin Acquisition Inc)

Reversal of redistribution. If under Clause 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 Obligor; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the a period whilst it held the redistributionre-distribution. Thereupon, Thereupon the subrogation in Clause 31.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Facilities Agreement (Autoliv Inc)

Reversal of redistribution. If under Clause 31.1 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 Borrower; and (b) the recovering Finance Party has paid a redistribution in relation to that recovery, each Finance Party shall, within 3 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 together with interest on the amount to be returned to the recovering Finance Party for the period whilst it held the redistributionre-distribution. Thereupon, the subrogation in Clause 31.1(e28.1(e) (Redistribution) will operate in reverse to the extent of the reimbursement.

Appears in 1 contract

Samples: Term Loan Facility (Sonera Corp)

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