Common use of Agreements for Contribution Clause in Contracts

Agreements for Contribution. (a) The Guarantors hereby agree among themselves that, if any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess Payment. The payment obligations of any Guarantor under this Section 2.3(a) shall be subordinate and subject in right of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations (other than (1) contingent indemnification obligations and (2) obligations and liabilities under Secured Cash Management Agreements or Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made) have been indefeasibly paid in full in cash and the Commitments terminated, and none of the Guarantors shall exercise any right or remedy under this Section 2.3(a) against any other Guarantor until such Guaranteed Obligations have been indefeasibly paid in full in cash and the Commitments terminated. For purposes of this Section 2.3(a), (i) “

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (Supreme Industries Inc)

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Agreements for Contribution. (a) The Guarantors hereby agree among themselves that, if any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess Payment. The payment obligations of any Guarantor under this Section 2.3(a) shall be subordinate and subject in right of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations (other than (1) contingent indemnification and expense reimbursement obligations and (2) obligations and liabilities under Secured Cash Management Agreements or Secured Hedge Agreements as to for which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have no claim has been made) have been indefeasibly paid in full in cash and the Commitments terminatedfull, and none of the Guarantors shall exercise any right or remedy under this Section 2.3(a) against any other Guarantor until such Guaranteed Obligations (other than contingent and expense reimbursement obligations for which no claim has been made) have been indefeasibly paid in full in cash and the Commitments terminatedfull. For purposes of this Section 2.3(a), (i) “

Appears in 1 contract

Samples: Guaranty Agreement (Gray Television Inc)

Agreements for Contribution. (a) The Guarantors hereby agree among themselves that, if any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess Payment. The payment obligations of any Guarantor under this Section 2.3(a) shall be subordinate and subject in right of payment to the Guaranteed Obligations Liabilities until such time as the Guaranteed Obligations Liabilities (other than (1) contingent indemnification obligations and (2) obligations and liabilities under Secured Cash Management Agreements or Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been madenot then due) have been indefeasibly paid in full in cash and cash, the Commitments terminatedhave been terminated and all Letters of Credit have terminated or expired (or been Cash Collateralized), and none of the Guarantors shall exercise any right or remedy under this Section 2.3(a) against any other Guarantor until such Guaranteed Obligations Liabilities have been indefeasibly paid in full in cash and the Commitments terminated. For purposes of this Section 2.3(a), (i) “

Appears in 1 contract

Samples: Credit Agreement (Cirrus Logic Inc)

Agreements for Contribution. (a) The Guarantors hereby agree among themselves that, if any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess Payment. The payment obligations of any Guarantor under this Section 2.3(a) shall be subordinate and subject in right of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations (other than (1) contingent indemnification obligations and reimbursement obligations, (2) obligations and liabilities under Secured Cash Management Agreements or Secured Hedge Agreements that are not then due and payable and (3) Letters of Credit that have either been Cash Collateralized or as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank Issuing Lender shall have been made) have been indefeasibly paid in full in cash and the Commitments terminated, and none of the Guarantors shall exercise any right or remedy under this Section 2.3(a) against any other Guarantor until such Guaranteed Obligations have been indefeasibly paid in full in cash and the Commitments terminated. For purposes of this Section 2.3(a), (i) "

Appears in 1 contract

Samples: Guaranty Agreement (National Instruments Corp)

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Agreements for Contribution. (a) The Guarantors hereby agree among themselves that, if any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess Payment. The payment obligations of any Guarantor under this Section 2.3(a) shall be subordinate and subject in right of payment to the Guaranteed Obligations Liabilities until such time as the Guaranteed Obligations Liabilities (other than (1) contingent indemnification obligations and (2) obligations and liabilities under Secured Cash Management Agreements or Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been madenot then due) have been indefeasibly paid in full in cash and cash, the Commitments terminatedhave been terminated and all Letters of Credit have terminated or expired (or been Cash Collateralized), and none of the Guarantors shall exercise any right or remedy under this Section 2.3(a) against any other Guarantor until such Guaranteed Obligations Liabilities (other than contingent obligations not then due) have been indefeasibly paid in full in cash and cash, the Commitments have been terminated, and all Letters of Credit have terminated or expired (or been Cash Collateralized). For purposes of this Section 2.3(a), (i) “

Appears in 1 contract

Samples: Credit Agreement (Cirrus Logic Inc)

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