Paying Borrower definition

Paying Borrower has the meaning assigned to such term in Section 2.25(f).

Paying Borrower has the meaning specified in Section 2.14.

Paying Borrower shall have the meaning set forth in Section 10.29(b).

Examples of Paying Borrower in a sentence

• In the event any Borrower (a “Paying Borrower”) shall make any payment or payments under this Loan Guaranty or shall suffer any loss as a result of any realization upon any collateral granted by it to secure its obligations under this Loan Guaranty, each other Borrower (each a “Non-Paying Borrower”) shall contribute to such Paying Borrower an amount equal to such Non-Paying Borrower’s “Applicable Percentage” of such payment or payments made, or losses suffered, by such Paying Borrower.

• In no event shall any Paying Borrower be entitled to any payment from the other Borrowers in respect of any Accommodation Payment made by such Paying Borrower in excess of the amount of such Accommodation Payment.

• In the event any Borrower (a “Paying Borrower”) shall make any payment or payments under this Guarantee or shall suffer any loss as a result of any realization upon any collateral granted by it to secure its obligations under this Guarantee, each other Borrower (each a “Non-Paying Borrower”) shall contribute to such Paying Borrower an amount equal to such Non-Paying Borrower’s Applicable Share of such payment or payments made, or losses suffered, by such Paying Borrower.

• In no event shall any Paying Borrower be entitled to any payment from the other Borrower in respect of any Accommodation Payment made by such Paying Borrower in excess of the amount of such Accommodation Payment.

More Definitions of Paying Borrower

Paying Borrower shall have the meaning set forth in Section 2.5(d).

Paying Borrower has the meaning specified in Section 3.9(d).

Paying Borrower means any Borrower who pays interest, principal or premium on behalf of any other Borrower (in such capacity, a “Beneficiary Borrower”) in respect of the applicable Beneficiary Borrower’s internally allocated portion of Term Loans, Second Lien Loans or the ABL Facility, as applicable.

Paying Borrower shall have the meaning set forth in Section 13.01(d).

Paying Borrower makes a payment in respect of principal and accrued interest hereunder and all costs, fees and expenses owing hereunder, including, without limitation, fees and disbursements of counsel (collectively, the "Joint Obligations") the proceeds or benefit or which were received by another Borrower (the "Underpaying Borrower"), such Paying Borrower shall be subrogated to the rights of the Lender against the Underpaying Borrower to the extent of such proceeds or benefit and shall have the right of contribution with respect to such payment set forth below against the other Borrowers (other than the Underpaying Borrower); provided that no Borrower shall enforce its rights of subrogation until all of the Joint Obligations have been paid in full and all credit facilities related thereto terminated. If any Paying Borrower makes a payment in respect of the Joint Obligations the proceeds of which were received by an Underpaying Borrower that is smaller in proportion to such Paying Borrower's Payment Share (as hereinafter defined) than the payments made by the other Borrowers in repayment of such Joint Obligations are in proportion to the amounts of their respective Payment Shares, the Borrower making such proportionately smaller payment shall, when permitted by the preceding sentence, pay to the other Borrowers (other than the Underpaying Borrower) an amount such that the net payments made by the Borrowers (other than the Underpaying Borrower) in respect of such Joint Obligations shall be shared among such Borrowers (other than the Underpaying Borrower) pro rata in proportion to their respective