Sharing of Collateral. To the extent permitted by Applicable Law, each Lender and the Administrative Agent, in its capacity as a Lender, agrees that if it shall, through the receipt of any proceeds from an Investor Capital Call or the exercise of any remedies under any Collateral Documents, receive or be entitled to receive payment of a portion of the aggregate amount of principal, interest and fees due to it under this Credit Agreement which constitutes a greater proportion of the aggregate amount of principal, interest and fees then due to such Lender under this Credit Agreement than the proportion received by any other Lender in respect of the aggregate amount of principal, interest and fees due with respect to any Obligations to such Lender under this Credit Agreement, then such Lender or the Administrative Agent, in its capacity as a Lender, as the case may be, shall purchase participations in the Obligations under this Credit Agreement held by such other Lenders so that all such recoveries of principal, interest and fees with respect to this Credit Agreement, the Notes and the Obligations thereunder held by the Lenders shall be pro rata according to each Lender’s outstanding Obligations (determined as of the date hereof and regardless of any change in any Lender’s outstanding Obligations caused by such Xxxxxx’s receipt of a proportionately greater or lesser payment hereunder). Each Lender hereby authorizes and directs the Administrative Agent to coordinate and implement the sharing of collateral contemplated by this Section 12.3 prior to the distribution of proceeds from Investor Capital Calls or proceeds from the exercise of remedies under the Collateral Documents prior to making any distributions of such proceeds to each Lender or the Administrative Agent, in its capacity as a Lender.
Sharing of Collateral. Upon the occurrence of any Event of Default (as defined herein), and if the Secured Parties proceed to exercise any rights with respect to the Collateral, the Secured Parties shall share the Collateral and the proceeds of such Collateral ratably in proportion to the principal and accrued interest then outstanding under the Notes, without priority of one over the other.
Sharing of Collateral. Subject to the First Priority Domain Name Security Interest, upon the occurrence of any Event of Default, as defined in Section 5, and if the Secured Parties proceed to exercise any rights with respect to the Collateral, the Secured Parties shall share the Collateral and the proceeds of such Collateral ratably.
Sharing of Collateral. Until all of the Obligations are paid in full, all Collateral or proceeds thereof received by any Holder other than the Collateral Agent, in connection with the exercise of any right or remedy relating to the Collateral or otherwise shall be segregated and held in trust and forthwith paid over or delivered (a) to the Collateral Agent, for the ratable benefit of itself and the other Holders, in the same form as received together with any necessary endorsements, or (b) as a court of competent jurisdictions may otherwise direct.
Sharing of Collateral. If any Lender shall obtain any payment (whether voluntary, involuntary, through exercise of any right of set off, or otherwise) on account of the Liabilities in excess of the amount to which it is entitled pursuant to this Agreement, such Lender shall forthwith purchase from the other Lenders such participations in such other Lenders' claims against Borrower as shall be necessary to cause such purchasing Lender to share the excess payment with the other Lenders in accordance with the provisions of this Agreement; provided, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from such other Lender shall be rescinded and such other Lenders shall repay to the purchasing Lender the purchase price to the extent of their portion of such recovery together with an amount equal to the share (according to the proportion of (i) the amount of such other Lenders' required repayment, to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by purchasing Lender in respect of the total amount recovered.
Sharing of Collateral. No Secured Party shall contest the validity, perfection, priority or enforceability of, or seek to avoid, any Lien securing any Noteholder Obligation, and each party hereby agrees to cooperate, at no cost to the Collateral Agent, in the defense of any action contesting the validity, perfection, priority or enforceability of any such Lien. No Noteholder shall have the right to obtain any of the Collateral or the benefit of any Lien on any property of any Obligor solely in respect of Noteholder Obligations owing to such Noteholder or any group of Noteholders comprised of less than all the Noteholders.
Sharing of Collateral. 65 13.4 Waiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 13.5 Payment of Expenses; Indemnity . . . . . . . . . . . . . . . . . . . . . 66 13.6 Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 13.7
Sharing of Collateral. Upon the occurrence of any Event of Default and if the Collateral Agent proceeds to exercise any rights with respect to the Collateral, the Lenders shall share the Collateral and the proceeds of such Collateral in accordance with each Lender’s applicable Pro Rata Share, without priority of one over the other.
Sharing of Collateral. Subject to the terms of this Indenture and the Collateral Agreements, any Collateral securing this Indenture, the Notes and the Subsidiary Guarantee of Laundry Corp., if any, may be shared by any other Indebtedness of the Company and Laundry Corp., including Additional Notes issued under this Indenture, incurred after the Issue Date so long as such Indebtedness is incurred in accordance with this Indenture, including Section 4.12, and the Lien thereon constitutes a Permitted Lien.
Sharing of Collateral. Each Secured Party acknowledges that (i) certain liens or security interests have been granted in the same Collateral to the other Secured Parties to secure obligations of Borrower; (ii) such liens or security interests in the Collateral shall be on the same level of priority with respect to each Secured Party; (iii) the amount of Collateral attributable to a Secured Party shall be the proportion that the respective indebtedness owing to such Secured Party by Borrower bears to the aggregate indebtedness owed by Borrower to all Secured Parties ("PRO RATA SHARE"); (iv) the Secured Parties shall share in the proceeds of the Collateral according to their Pro Rata Share; and (v) each Secured Party shall pay its Pro Rata Share of any expenses (including, without limitation, court costs, attorney's fees and other costs of collection) incurred in connection with the Collateral.
