Common use of Contribution by Guarantors Clause in Contracts

Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty that exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in the amount of such other Contributing Guarantor’s Fair Share Shortfall as of such date, with the result that all such contributions will cause each Contributing Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of the obligations Guarantied. “Fair Share Shortfall” means, with respect to a Contributing Guarantor as of any 77

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Xo Communications Inc)

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Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing Guarantors”"CONTRIBUTING GUARANTORS"), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”"FUNDING GUARANTOR") under this Guaranty that exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in the amount of such other Contributing Guarantor’s 's Fair Share Shortfall as of such date, with the result that all such contributions will cause each Contributing Guarantor’s 's Aggregate Payments to equal its Fair Share as of such date. “Fair Share” "FAIR SHARE" means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of the obligations GuarantiedGuaranteed. “Fair Share Shortfall” "FAIR SHARE SHORTFALL" means, with respect to a Contributing Guarantor as of any 77date of determination, the excess, if any, of the Fair Share of such Contributing Guarantor over

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Vca Antech Inc)

Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing Guarantors”)themselves, in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in the an amount of such other Contributing Guarantor’s Fair Share Shortfall as of such date, with the result that all such contributions will sufficient to cause each Contributing Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing any Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor Guarantor, to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by by, (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of the obligations GuarantiedGuaranteed. “Fair Share ShortfallContribution Amount” means, with respect to a Contributing any Guarantor as of any 77date of determination, the maximum aggregate amount of the obligations of such Guarantor under this Guaranty that would

Appears in 1 contract

Samples: Financing Agreement (Federal Signal Corp /De/)

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Contribution by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing Guarantors”)themselves, in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that its Aggregate Payments exceeds its Fair Share as of such date, such Funding Guarantor shall be entitled to a contribution from each of the other Contributing Guarantors in the an amount of such other Contributing Guarantor’s Fair Share Shortfall as of such date, with the result that all such contributions will sufficient to cause each Contributing Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect to such Contributing Guarantor to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors multiplied by (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty in respect of the obligations GuarantiedGuaranteed. “Fair Share ShortfallContribution Amount” means, with respect to a Contributing Guarantor as of any 77date of determination, the maximum aggregate amount of the obligations of such Guarantor under this Guaranty that would not render its obligations hereunder or thereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the Bankruptcy Code or any comparable applicable provisions of state law;

Appears in 1 contract

Samples: Lease Agreement (United Rentals North America Inc)

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