Common use of Benefit Amount Defined Clause in Contracts

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 4 contracts

Samples: Pledge and Security Agreement (LaSalle Hotel Properties), Guaranty and Contribution Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

AutoNDA by SimpleDocs

Benefit Amount Defined. For purposes of this Agreement, the ---------------------- "Benefit Amount" of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an a Indemnitor, the Benefit Amount of an a Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 3 contracts

Samples: Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp), Management Agreement (American General Hospitality Corp)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementAgreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may be; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks pursuant to the Subject Swap Contracts which benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 3 contracts

Samples: Pledge and Security Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit ---------------------- Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement and the benefit of entering into the Participating Leases; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 3 contracts

Samples: Credit Agreement (American General Hospitality Corp), Management Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 3 contracts

Samples: Security Agreement (Arkansas Best Corp /De/), Security Agreement (Arkansas Best Corp /De/), Security Agreement (Arkansas Best Corp /De/)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 2 contracts

Samples: Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Guaranty and Contribution Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, Agreements the "Benefit Amount" of any Indemnitor Obligor as of any date of determination shall be the net value of the benefits to such Indemnitor Obligor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Agreement; provided, however, that in determining the contribution liability of any Indemnitor Obligor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Obligor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits (collectively, the "Benefits") of any Obligor shall include include, without limitation, benefits of funds constituting proceeds of Advances made to Loans which are deposited into the account of a Borrower by the Banks and which are in turn advanced or contributed by the such Borrower to such Indemnitor Obligor or any of its Subsidiaries (collectively, the “Benefits”)and used for such Obligor's or any of its Subsidiaries' purposes. In the case of any proceeds of Advances Loans or Benefits advanced or contributed to to, or received by, a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an IndemnitorObligor, the Benefit Amount of an Indemnitor such Obligor with respect thereto shall be that portion of the net value of the benefits attributable to Advances such proceeds of Loans or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Obligor in its Owned Entity.

Appears in 1 contract

Samples: Loan Agreement (Invacare Corp)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks Lenders to the Borrower Borrowers under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower Borrowers by the Banks Lenders which are in turn advanced or contributed by the Borrower Borrowers to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person of which any of the equity interests are owned directly or indirectly by a Guarantor (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitor), the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement and the benefit of entering into the Participating Leases; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Lasalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit Amount" of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may be; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks pursuant to the Subject Swap Contracts or Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the ---------------------- "Benefit Amount" of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, Agreements the “Benefit Amount” "BENEFIT AMOUNT" of any Indemnitor Obligor as of any date of determination shall be the net value of the benefits to such Indemnitor Obligor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Agreement; provided, howeverPROVIDED, that in determining the contribution liability of any Indemnitor Obligor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Obligor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits (collectively, the "BENEFITS") of any Obligor shall include include, without limitation, benefits of funds constituting proceeds of Advances made to Loans which are deposited into the account of a Borrower by the Banks and which are in turn advanced or contributed by the such Borrower to such Indemnitor Obligor or any of its Subsidiaries (collectively, the “Benefits”)and used for such Obligor's or any of its Subsidiaries' purposes. In the case of any proceeds of Advances Loans or Benefits advanced or contributed to to, or received by, a Person (an “Owned Entity”"OWNED ENTITY") any of the equity interests of which are owned directly or indirectly by an IndemnitorObligor, the Benefit Amount of an Indemnitor such Obligor with respect thereto shall be that portion of the net value of the benefits attributable to Advances such proceeds of Loans or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Obligor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty Agreement (Invacare Corp)

Benefit Amount Defined. For purposes of this Agreement, the ---------------------- "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement and the benefit of entering into the Participating Leases; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Lasalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, Agreement the "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks Lenders to the Borrower Company under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits (collectively, the "Benefits") of any Guarantor shall include include, without limitation, benefits of funds constituting proceeds of Advances made to which are deposited into the Borrower account of the Company by the Banks Lenders and which are in turn advanced or contributed by the Borrower Company to such Indemnitor Guarantor or any of its Subsidiaries (collectively, and benefits of Letters of Credit issued for the “Benefits”)account of the Company and used for such Guarantor's or any of its Subsidiaries' purposes. In the case of any proceeds of Advances or Benefits advanced or contributed to to, or received by, a Person (an "Owned Entity") any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor such Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to such proceeds of Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Subrogation and Contribution Agreement (BMG North America LTD)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 1 contract

Samples: Environmental Indemnification Agreement (Lasalle Hotel Properties)

AutoNDA by SimpleDocs

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may be; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks pursuant to the Subject Swap Contracts or Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise which benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Pledge and Security Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks Lenders to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks Lenders which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Interstate Hotels & Resorts Inc)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) of which any of the equity interests of which are owned directly or indirectly by a Guarantor (an Indemnitor"Owned Entity"), the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementCredit Agreement and the benefit of entering into the Participating Leases; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (Lasalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the "Benefit Amount" of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower Borrowers by the Banks which are in turn advanced or contributed by the Borrower Borrowers to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the "Benefits"). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) of which any of the equity interests of which are owned directly or indirectly by a Guarantor (an Indemnitor"Owned Entity"), the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan AgreementAgreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may be; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its LASALLE HOTEL OPERATING PARTNERSHIP, L.P. GUARANTY AND CONTRIBUTION AGREEMENT Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks pursuant to the Subject Swap Contracts which benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor as of any date of determination shall be the net value of the benefits to such Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be Indemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Indemnitor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or LASALLE HOTEL OPERATING PARTNERSHIP, L.P. SECOND AMENDED & RESTATED CREDIT AGREEMENT contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitor, the Benefit Amount of an Indemnitor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor in its Owned Entity.

Appears in 1 contract

Samples: Pledge and Security Agreement (LaSalle Hotel Properties)

Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Indemnitor Guarantor as of any date of determination shall be the net value of the benefits to such Indemnitor Guarantor and all of its Subsidiaries (including any Subsidiaries which may be IndemnitorsGuarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement; provided, however, that in determining the contribution liability of any Indemnitor Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any Indemnitor Guarantor to its direct or indirect Subsidiary, the Benefit Amount of such Subsidiary and its Subsidiaries, if any, shall be subtracted in determining the Benefit Amount of the parent corporation. Such benefits shall include benefits of funds constituting proceeds of Advances made to the Borrower by the Banks which are in turn advanced or contributed by the Borrower to such Indemnitor Guarantor or its Subsidiaries and benefits of Letters of Credit issued pursuant to the Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor and its Subsidiaries (collectively, the “Benefits”). In the case of any proceeds of Advances or Benefits advanced or contributed to a Person (an “Owned Entity”) any of the equity interests of which are owned directly or indirectly by an Indemnitora Guarantor, the Benefit Amount of an Indemnitor a Guarantor with respect thereto shall be that portion of the net value of the benefits attributable to Advances or Benefits equal to the direct or indirect percentage ownership of such Indemnitor Guarantor in its Owned Entity.

Appears in 1 contract

Samples: Guaranty and Contribution Agreement (LaSalle Hotel Properties)

Time is Money Join Law Insider Premium to draft better contracts faster.