Sharing of Collections. The Lenders hereby agree among themselves that if any Lender shall receive (by voluntary payment, realization upon security, set-off or from any other source) any amount on account of the Loans, interest thereon, or any other Obligation contemplated by this Agreement or the other Loan Documents to be made by the Borrower pro rata to all Lenders (or pro rata to holders of Notes) in greater proportion than any such amount received by any other applicable Lender, then the Lender receiving such proportionately greater payment shall notify each other Lender and the Administrative Agent of such receipt, and equitable adjustment will be made in the manner stated in this Section 9.11 so that, in effect, all such excess amounts will be shared ratably among all of the applicable Lenders. The Lender receiving such excess amount shall purchase (which it shall be deemed to have done simultaneously upon the receipt of such excess amount) for cash from the other applicable Lenders a participation in the applicable Obligations owed to such other Lenders in such amount as shall result in a ratable sharing by all applicable Lenders of such excess amount (and to such extent the receiving Lender shall be a Participant). If all or any portion of such excess amount is thereafter recovered from the Lender making such purchase, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, together with interest or other amounts, if any, required by Law to be paid by the Lender making such purchase. The Borrower hereby consents to and confirms the foregoing arrangements. Each Participant shall be bound by this Section as fully as if it were a Lender hereunder.
Sharing of Collections. The Banks hereby agree among themselves that if any Bank shall receive (by voluntary payment, realization upon security, set-off or from any other source) any amount on account of any Obligation contemplated by this Agreement or the other Transaction Documents to be made by an Account Party or Borrower pro rata to all Banks in greater proportion than any such amount received by any other Bank, then the Bank receiving such proportionately greater payment shall notify each other Bank and the Administrative Agent of such receipt, and equitable adjustment will be made in the manner stated in this Section 10.18 so that, in effect, all such excess amounts will be shared ratably among all of the Banks. The Bank receiving such excess amount shall purchase (which it shall be deemed to have done simultaneously upon the receipt of such excess amount) for cash from the other Banks a participation in the applicable Obligations owed to such other Banks in such amount as shall result in a ratable sharing by all Banks of such excess amount (and to such extent the receiving Bank shall be a Participant). If all or any portion of such excess amount is thereafter recovered from the Bank making such purchase, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, together with interest or other amounts, if any, required by Law to be paid by the Bank making such purchase. The Account Parties and Borrowers hereby consent to and confirm the foregoing arrangements. Each Participant shall be bound by this Section 10.18 as fully as if it were a Bank hereunder.
Sharing of Collections. 58 9.14 Successors and Assigns; Participations; Assignments................................................................
Sharing of Collections. Except as otherwise set forth herein, the Lenders shall share all Collections (as defined herein) in accordance with their respective pro rata share of each Lender's portion of each of the Loans, and such moneys or other property shall be received by the Lenders for the benefit of each of the Lenders, and shall be remitted by the Lender promptly to the other Lender. For purposes of this section, "Collections" shall mean all moneys and other property received by any of the Lenders, but not including payments of principal or interest made pursuant to the Notes (provided that no Default, as defined in this Agreement then exists), from whatever source derived, including all moneys and other property realized from any collateral of Laitram and/or any of the Guarantors except Xxxxxxx Properties, L.L.C. and Laitram Group, Inc., or from the exercise by Agent and/or the Lenders, or either of them, of any lien or right of set-off with respect to any deposits or other property of any of Laitram and/or the Guarantors.
Sharing of Collections. Each Bank and Swing Lender agrees that if it ---------------------- shall, by exercising any right of setoff or counterclaim or resort to collateral security or otherwise, receive payment of a proportion of the aggregate amount of principal and interest owing with respect to the Note held by it which is greater than the proportion received by any other Bank and/or by Swing Lender, as the case may be, in respect of the aggregate amount of all principal and interest owing with respect to the Note held by such other Bank and/or Swing Lender, the Bank or Swing Lender receiving such proportionately greater payment shall purchase such participations in the Notes held by the other Banks or by Swing Lender, if applicable, owing to such other Banks and/or Swing Lender, and such other adjustments shall be made, as may be required so that all such payments of principal and interest with respect to the Notes held by the Banks and/or Swing Lender owing to such other Banks and/or Swing Lender shall be shared by the Banks and/or Swing Lender pro rata; provided that if all or any -------- portion of such payment received by the purchasing Bank or Swing Lender, as the case may be, is thereafter recovered from such purchasing Bank or Swing Lender, as the case may be, such purchase from each other Bank and/or Swing Lender shall be rescinded and such other Bank and/or Swing Lender shall repay to the purchasing Bank or Swing Lender, as the case may be, the purchase price of such participation to the extent of such recovery, together with an amount equal to such other Bank's or Swing Lender's ratable share (according to the proportion of (a) the amount of such other Bank's or Swing Lender's required repayment to (b) the total amount so recovered from the purchasing Bank or Swing Lender) of any interest or other amount paid or payable by the purchasing Bank or Swing Lender in respect of the total amount so recovered. Borrowers agree, to the fullest extent they may effectively do so under Applicable Law, that any holder of a participation in a Note, whether or not acquired pursuant to the foregoing arrangements, may exercise rights of setoff or counterclaim and other rights with respect to such participation as fully as if such holder of a participation were a direct creditor of Borrowers in the amount of such participation.
Sharing of Collections. The Lenders hereby agree among themselves that if any Lender shall receive (by voluntary payment, realization upon security, set-off or from any other source) any amount on account of the Loans, interest thereon, or any other Loan Obligation contemplated by this Agreement or the other Loan Documents to be made by the Borrower ratably to all Lenders in greater proportion than any such amount received by any other Lender, then the Lender receiving such proportionately greater payment shall notify each other Lender and the Agent of such receipt, and equitable adjustment will be made in the manner stated in this Section so that, in effect, all such excess amounts will be shared ratably among all of the Lenders. The Lender receiving such excess amount shall purchase (which it shall be deemed to have done simultaneously upon the receipt of such excess amount) for cash from the other Lenders a
Sharing of Collections. 94 9.14 Successors and Assigns; Participations; Assignments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 9.15 Governing Law; Submission to Jurisdiction: Waiver of Jury Trial . . . . . . . . . . . . . . . . . . . . . . . . . . 98 9.16 Confidentiality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 9.17
Sharing of Collections. The Lenders hereby agree among themselves that if any Lender shall receive (by voluntary payment, realization upon security, set-off or from any other source) any amount on account of the Loans, interest thereon, or any other Obligation contemplated by this Agreement or the other Loan Documents to be made by the Borrower ratably to all Lenders in greater proportion than any such amount received by any other Lender, then the Lender receiving such
Sharing of Collections. 62 ARTICLE XIII
Sharing of Collections. 60 ARTICLE X GUARANTEE ...................................................... 60
