Equal and Ratable Benefit. The Loans and Commitments established pursuant to this [Section 2.14] shall constitute Loans and Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guaranty, except that the new Loans may be subordinated in right of payment to the extent set forth in the Increase Joinder.
Equal Contribution. The Article headings are for convenience of reference only and shall not be considered in interpreting the text of this Contract. This Contract has been subject to detailed negotiations by the Parties and any legal or equitable principles that might require the construction of this Contract or any provision of this Contract to be interpreted against the Party drafting this Contract shall not apply in any construction or interpretation of this Contract.
Ratable Payments. If any Holder of Secured Obligations, whether by setoff or otherwise, has payment made to it upon its Secured Obligations (other than payments received pursuant to [Sections 2.14(E), 4.1, 4.2 or 4.4]4]4]4] or as otherwise provided herein) in a greater proportion than that received by any other Holder of Secured Obligations, such Holder of Secured Obligations agrees, promptly upon demand, to purchase a portion of the Secured Obligations held by the other Holders of Secured Obligations so that after such purchase each Holder of Secured Obligations will hold its ratable share of the relevant Secured Obligations in accordance with [Section 12.4]. If any Holder of Secured Obligations, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its Secured Obligations or such amounts which may be subject to setoff, such Holder of Secured Obligations agrees, promptly upon demand, to take such action necessary such that all Holders of Secured Obligations share in the benefits of such collateral ratably in proportion to the obligations owing to them. In case any such payment is disturbed by legal process or otherwise, appropriate further adjustments shall be made.
Ratable Advances. Each Ratable Advance hereunder shall consist of Loans made to a Borrower from the several [[Organization B:Organization]] ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment. The aggregate outstanding amount of Competitive Bid Advances shall reduce each Lender’s Commitment ratably in the proportion such Lender’s Commitment bears to the Aggregate Commitment regardless of which Lender or [[Organization B:Organization]] make such Competitive Bid Advances.
Ratable Loans. Each Advance shall consist of Loans made # in the case of Revolving Loans to the Company, by the Lenders ratably in accordance with their respective Pro Rata Shares, # in the case of Revolving Loans to any Borrowing Subsidiary, by the BSub Lenders for such Borrowing Subsidiary in accordance with their respective BSub Percentages for such Borrowing Subsidiary or # in the case of the Term Loan, by the Lenders ratably in accordance with their pro rata portion of the Term Loan.
Letter of Credit Fee. Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in [Section 2.11(k)]) that shall accrue at a per annum rate equal to the SOFR Margin times the average amount of the Letter of Credit Usage during the immediately preceding month.
“Ratable Portion” means, with respect to any Note, an amount equal to the product of # the amount equal to the net proceeds being so applied to the prepayment of Senior Indebtedness in accordance with [Section 10.3(2)], multiplied by # a fraction the numerator of which is the
Accounts # that are not subject to a perfected first-priority security interest in favor of the Collateral Agent, for its benefit and the ratable benefit of the Secured Parties, or # with respect to which the or a Subsidiary Guarantor does not have good and valid title thereto, free and clear of any Lien (other than # Liens granted to the Collateral Agent, for its benefit and the ratable benefit of the Secured Parties, pursuant to the Collateral Documents and (ii) (A) Liens permitted under Section 9.1 having priority by operation of applicable Laws over the Liens of the Collateral Agent, and # Liens under [Section 9.1(w)] securing obligations under the Term Facilities and any Permitted Refinancings thereof);
the Administrative Agent shall have received for the ratable account of the Banks a fee equal to 0.75% of the aggregate principal amount of the Loans outstanding on the Term Loan Conversion Date.
to payment of all other amounts due under any of the Loan Documents to be applied for the ratable benefit of the Agent and/or the Lenders until paid in full; and
#[[Organization A:Organization]] shall pay # to [[Organization B:Organization]], for the ratable benefit of Lenders, fees for each Letter of Credit and each Acceptance for the period from and excluding the date of issuance
“Agent’s Liens” shall mean the Liens in the Collateral granted to the Agent, for the ratable benefit of the Lenders, pursuant to the Original Loan Agreement, this Agreement and the other Loan Documents.
During the Term of this Agreement, Company shall pay for a health benefit plan for the Employee.
Special Supplemental Benefit. This paragraph shall apply solely to the individual who is the Senior Vice-President of Administration as of November 1, 2008 (such individual, the “Designated Executive”). The Designated Executive is entitled to an amount equal to 20% of his final monthly base salary, payable for a period of 120 months. Payment of this amount shall commence on the first day of the 7th month following the Designated Executive’s Termination Date (as defined in Section 5.2(c)). The first such payment will be equal in amount to 7 times the monthly amount, and payment of the monthly amount shall continue thereafter on the first of each month for each of the next 113 months. Section 5 shall not apply to these payments, except for section 5.4. Should the Designated Executive die before all payments are completed, the balance will be paid as scheduled to the Designated Executive’s Beneficiary, designated pursuant to Section 6. This paragraph shall apply to amounts accrued both before and on and after January 1, 2005. This Section 4.2 is retained for historical purposes, as all amounts payable to the Designated Executive under this Section 4.2 were distributed as required by this Section 4.2 prior to January 1, 2020.
Welfare Benefit Plans. During the Employment Period, Employee and/or Employee’s family, as the case may be, shall also be eligible for participation in and shall receive all benefits under all welfare benefit plans, practices, policies and programs provided by the Employer (including, without limitation, medical, hospitalization, prescription, dental, disability, employee life, group life, accidental death and dismemberment, and travel accident insurance plans and programs) (“Welfare Benefit Plans”), in each case provided that senior management is eligible to participate therein.
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