Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan 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 Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 4 contracts
Sources: Senior Unsecured Term Loan 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 Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beAgreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor 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 a Guarantoran Indemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 4 contracts
Sources: Senior Unsecured Term Loan 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 Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor 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 a Guarantoran Indemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 3 contracts
Sources: Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “---------------------- "Benefit Amount” " of any Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor 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 a GuarantorIndemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 3 contracts
Sources: Subordinate Unsecured Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp), Senior Unsecured Credit Agreement (American General Hospitality Corp)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit ---------------------- Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement or from and the provision benefit of financial accommodations to entering into the Borrower under the Subject Swap Contracts, as the case may beParticipating Leases; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 3 contracts
Sources: Subordinate Unsecured Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp), Senior Unsecured Credit Agreement (American General Hospitality Corp)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 3 contracts
Sources: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit 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 Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 GuarantorGuarantor (an "Owned Entity"), the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Benefit Amount Defined. For purposes of this Agreement, Agreements the “"Benefit Amount” " of any Guarantor Obligor as of any date of determination shall be the net value of the benefits to such Guarantor Obligor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beAgreement; provided, however, that in determining the contribution liability of any Guarantor Obligor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Obligor or any of its Subsidiaries and benefits used for such Obligor's or any 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”)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 a Guarantoran Obligor, the Benefit Amount of a Guarantor 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 Guarantor Obligor in its Owned Entity.
Appears in 1 contract
Sources: Loan Agreement (Invacare Corp)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement or from and the provision benefit of financial accommodations to entering into the Borrower under the Subject Swap Contracts, as the case may beParticipating Leases; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Guaranty and Contribution Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “---------------------- "Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement or from and the provision benefit of financial accommodations to entering into the Borrower under the Subject Swap Contracts, as the case may beParticipating Leases; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Guaranty and Contribution Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 GuarantorGuarantor (an "Owned Entity"), the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Benefit Amount Defined. For purposes of this Agreement, Agreements the “Benefit Amount” "BENEFIT AMOUNT" of any Guarantor Obligor as of any date of determination shall be the net value of the benefits to such Guarantor Obligor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower Borrowers under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beAgreement; provided, howeverPROVIDED, that in determining the contribution liability of any Guarantor Obligor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Obligor or any of its Subsidiaries and benefits used for such Obligor's or any 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”)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 a Guarantoran Obligor, the Benefit Amount of a Guarantor 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 Guarantor Obligor in its Owned Entity.
Appears in 1 contract
Sources: Loan Agreement (Invacare Corp)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks Lenders to the Borrower Borrowers under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 GuarantorGuarantor (an “Owned Entity”), the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit 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 Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks to the Borrower under the Term Loan Credit Agreement or from and the provision benefit of financial accommodations to entering into the Borrower under the Subject Swap Contracts, as the case may beParticipating Leases; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Guaranty and Contribution Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks Lenders to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts 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 a Guarantor, the Benefit Amount of 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Guaranty and Contribution Agreement (Interstate Hotels & Resorts Inc)
Benefit Amount Defined. For purposes of this Agreement, the “Benefit Amount” of any Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor 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 a Guarantoran Indemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 1 contract
Sources: Environmental Indemnification Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “---------------------- "Benefit Amount” " of any Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor 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 a Guarantoran Indemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 1 contract
Sources: Environmental Indemnification Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, the “"Benefit Amount” " of any Guarantor Indemnitor as of any date of determination shall be the net value of the benefits to such Guarantor Indemnitor and all of its Subsidiaries (including any Subsidiaries which may be GuarantorsIndemnitors) from extensions of credit made by the Banks to the Borrower under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor Indemnitor which is a Subsidiary to its direct or indirect parent corporation or of any Guarantor 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 Guarantor Indemnitor or its Subsidiaries and benefits of financial accommodations provided to the Borrower by the Swap Banks Letters of Credit issued pursuant to the Subject Swap Contracts Credit Agreement on behalf of, or the proceeds of which are advanced or contributed or otherwise benefit, directly or indirectly, such Guarantor 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 a Guarantoran Indemnitor, the Benefit Amount of a Guarantor 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 Guarantor Indemnitor in its Owned Entity.
Appears in 1 contract
Sources: Environmental Indemnification Agreement (Lasalle Hotel Properties)
Benefit Amount Defined. For purposes of this Agreement, Agreement the “"Benefit Amount” " of any Guarantor as of any date of determination shall be the net value of the benefits to such Guarantor and all of its Subsidiaries (including any Subsidiaries which may be Guarantors) from extensions of credit made by the Banks Lenders to the Borrower Company under the Term Loan Agreement or from the provision of financial accommodations to the Borrower under the Subject Swap Contracts, as the case may beCredit Agreement; provided, however, that in determining the contribution liability of any Guarantor which is a Subsidiary to its direct or indirect parent corporation or of any 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 Guarantor or any of its Subsidiaries and benefits of financial accommodations provided to Letters of Credit issued for the Borrower by account of the Swap Banks pursuant to the Subject Swap Contracts which benefit, directly Company and used for such Guarantor's or indirectly, such Guarantor and any of its Subsidiaries (collectively, the “Benefits”)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 a Guarantor, the Benefit Amount of a 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 Guarantor in its Owned Entity.
Appears in 1 contract
Sources: Subrogation and Contribution Agreement (BMG North America LTD)