Common use of Contribution Obligation Clause in Contracts

Contribution Obligation. Each Obligor shall be liable to a Funding Obligor in an amount equal to the greater of (A) the product of (i) a fraction the numerator of which is the Benefit Amount of such Obligor, and the denominator of which is the total amount of Obligations and (ii) the amount of Obligations paid by such Funding Obligor and (B) the excess of the fair salable value of the property of such Obligor over the total liabilities of such Obligor (including the maximum amount reasonably expected to become due in respect of contingent liabilities), as the case may be, determined as of the date on which the payment by a Funding Obligor is deemed made for purposes of this Agreement (giving effect to all payments made by other Funding Obligors as of much date in a manner to maximize the amount of such contributions)