Common use of Sharing of Payments Among Lenders Clause in Contracts

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of or interest on any Loan made by it through the exercise of any right of setoff, banker's lien, counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all Lenders shall share ratably the benefit of such payment. To such end, Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 3 contracts

Samples: Assignment and Assumption Agreement (Crescent Real Estate Equities Co), Assignment and Assumption Agreement (Reckson Associates Realty Corp), Crescent Real Estate Equities Co

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Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 3 contracts

Samples: Building Loan Agreement (Alexanders Inc), Assignment and Assumption Agreement (Acadia Realty Trust), Assignment and Assumption Agreement (Acadia Realty Trust)

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, ’s lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 2 contracts

Samples: Revolving Loan Agreement (Acadia Realty Trust), Assignment and Assumption Agreement (Acadia Realty Trust)

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of or interest on any Loan made by it through the exercise of any right of setoff, banker's lien, lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all Lenders shall share ratably the benefit of such payment. To such end, Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Acadia Realty Trust), Acadia Realty Trust

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 1 contract

Samples: Term Loan Agreement (Alexanders Inc)

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, ’s lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Credit Facility in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 1 contract

Samples: Credit Agreement (Acadia Realty Trust)

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Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, ’s lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 1 contract

Samples: Loan and Security Agreement (Varian Medical Systems Inc)

Sharing of Payments Among Lenders. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Credit Facility in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Acadia Realty Trust)

Sharing of Payments Among Lenders. If a Lender shall obtain --------------------------------- payment of any principal of its Note or of interest on any Loan made by it thereon through the exercise of any right of setoff, banker's lien, lien or counterclaim, or by any other means (including direct payment), and such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, then such Lender shall promptly purchase for cash from the other Lenders Participations in the Loans made by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all Lenders shall share ratably the benefit of such payment. To such end, end Lenders shall make appropriate adjustments among themselves (by the resale of Participations sold or otherwise) if such payment is rescinded or must otherwise be restored.

Appears in 1 contract

Samples: Building Loan Agreement (Federal Realty Investment Trust)

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