Common use of SECTION Sharing of Payments, Etc Clause in Contracts

SECTION Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the A Advances made by it (other than pursuant to Section 2.08, 2.12 or 8.04(b)) in excess of its ratable share of payments on account of the A Advances obtained by all the Lenders, such Lender shall, if such payment relates to principal of or interest on an A Advance, forthwith purchase from the other Lenders such participations in the A Advances made by them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them, provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and each such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery, together with an amount equal to such Lender's ratable share (according to the proportion of (i) the amount of such Lender's required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.16 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. If such excess payment relates to any fees payable hereunder, the Lender receiving such excess payment shall forthwith remit such excess payment to the Agent for distribution by the Agent to the Lenders on a pro rata basis, provided, however, that if all or any portion of such excess payment is thereafter recovered from such receiving Lender, each Lender shall remit to the Agent for redistribution to the receiving Lender such Lender's ratable share of the amount so recovered together with an amount equal to such Lender's ratable share of any interest or other amount paid or payable by the receiving Lender in respect of the total amount so recovered.

SECTION Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the A Advances made by it (other than pursuant to Section 2.08, 2.12 or 8.04(b)) Notes in excess of its ratable share of payments based on the outstanding aggregate principal amounts of such Lenders' Notes prior to such payment (after giving effect to any applicable set-offs pursuant to Section 5.5) on account of the A Advances Notes obtained by all the Lenders, such Lender shall, if such payment relates to principal of or interest on an A Advance, shall forthwith purchase from the each other Lenders Lender such participations in the A Advances made by them such Notes as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them, other Lender; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and each such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery, recovery together with an amount equal to such Lender's ratable share (according to the proportion of (i) the amount of such Lender's required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.16 6.3 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. If such excess payment relates to any fees payable hereunder, the Lender receiving such excess payment shall forthwith remit such excess payment to the Agent for distribution by the Agent to the Lenders on a pro rata basis, provided, however, that if all or any portion of such excess payment is thereafter recovered from such receiving Lender, each Lender shall remit to the Agent for redistribution to the receiving Lender such Lender's ratable share of the amount so recovered together with an amount equal to such Lender's ratable share of any interest or other amount paid or payable by the receiving Lender in respect of the total amount so recovered.