Example ContractsClausescommunity recovery paymentsIdentical
Community Recovery Payments
Community Recovery Payments contract clause examples

Recovery of Payments. If the Administrative Agent pays any amount to a Secured Party in the expectation that a related payment will be received by the Administrative Agent from a Loan Party and such related payment is not received, then the Administrative Agent may recover such amount from each Secured Party that received it. If the Administrative Agent determines at any time that an amount received under any Loan Document must be returned to a Loan Party or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, the Administrative Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by the Administrative Agent to any Secured Obligations are later required to be returned by the Administrative Agent pursuant to Applicable Law, each Lender shall pay to the Administrative Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.

TUESDAY MORNING CORP/DE (TUES, TUESQ) (CIK 0000878726)
Source: SEC EDGAR database • Date: January 31, 2019 • SIC: 5331 • CIK: 5331

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