Equalisation Clause Samples
The Equalisation clause is designed to ensure that all parties in a financial arrangement, such as investors in a fund, are treated fairly with respect to their contributions and returns. In practice, this clause adjusts the allocation of profits, losses, or fees among participants who join or exit the arrangement at different times, so that no party is advantaged or disadvantaged due to timing. By implementing equalisation, the clause maintains fairness and accuracy in financial distributions, preventing inequities that could arise from staggered entry or exit of participants.
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Equalisation. If, for any reason, any Senior Secured Liabilities remain unpaid after the Enforcement Date and the resulting losses are not borne by the Senior Secured Creditors in the proportions which their respective Exposures at the Enforcement Date bore to the aggregate Exposures of all the Senior Secured Creditors at the Enforcement Date, the Senior Secured Creditors (subject, in the case of Notes Trustee Amounts, to paragraphs (a) and (c) of Clause 30.2 (Liability)) will make such payments amongst themselves as the Security Agent shall require to put the Senior Secured Creditors in such a position that (after taking into account such payments) those losses are borne in those proportions.
Equalisation. If, for any reason, any Senior Liabilities remain unpaid after the Enforcement Date and after the application of Recoveries, as defined in, and in accordance with Clause 14.1 (Order of application) and the resulting losses are not borne by the Senior Creditors in the proportions which their respective exposures at the Enforcement Date bore to the aggregate exposures of all the Senior Creditors at the Enforcement Date, the Senior Creditors will make such payments, from such Recoveries (as defined in Clause 14.1 (Order of application)) actually applied, amongst themselves as the Security Agent shall require to put the Senior Creditors in such a position that (after taking into account such payments) those losses are borne in those proportions.
Equalisation. If, for any reason, any Super Senior Liabilities remain unpaid after the Enforcement Date and after the application of Recoveries, as defined in, and in accordance with Clause 15.1 (Order of application) and the resulting losses are not borne by the Super Senior Creditors in the proportions which their respective exposures at the Enforcement Date bore to the aggregate Super Senior Credit Participations of all Super Senior Creditors at the Enforcement Date, the Super Senior Creditors will make such payments, from such Recoveries (as defined in Clause 15.1 (Order of application)) actually applied, amongst themselves as the Security Agent shall require to put the Super Senior Creditors in such a position that (after taking into account such payments) those losses are borne in those proportions.
Equalisation. If, for any reason, any Super Senior Liabilities (other than in respect of the Rolled Loan) remain unpaid after the Enforcement Date and the resulting losses in respect of any Super Senior Liabilities (other than in respect of the Rolled Loan) are not borne by the Credit Facility Lenders and the Hedge Counterparties in the proportions which their respective Exposures at the Enforcement Date bore to the aggregate Exposures of all the Credit Facility Lenders and the Hedge Counterparties at the Enforcement Date, the Credit Facility Lenders and the Hedge Counterparties will make such payments among themselves as the Intercreditor Agent shall require to put the Credit Facility Lenders and the Hedge Counterparties in such a position that (after taking into account such payments) those losses are borne in those proportions.
Equalisation. 7.1 The parties shall give effect to the provisions of schedule 1.
Equalisation. Where reassignment is to a position with a lower salary, the employee will receive an allowance equivalent to the difference between their old and new salaries and be able to have this paid either: • As a lump sum calculated on the basis of two years’ equalisation; or • As an on-going allowance that will be abated by any subsequent salary increases for a maximum of 5 years. Where the employee is within five years of eligibility for Government Superannuation and the employee is a member of the scheme, the equalisation allowance will count towards the calculation of superannuation.
Equalisation. If, for any reason, any Senior Creditor Liabilities, Senior Notes Liabilities, Permitted Senior Financing Liabilities or Operating Facility Liabilities remain unpaid after the Enforcement Date and the resulting losses are not borne by the relevant Senior Secured Creditors and the Operating Facility Lenders in the proportions which their respective Exposures at the Enforcement Date bore to the aggregate Exposures A44420063 of all the relevant Senior Secured Creditors and the Operating Facility Lenders at the Enforcement Date, the relevant Senior Secured Creditors and the Operating Facility Lenders will make such payments amongst themselves as the Security Agent shall require to put the relevant Senior Secured Creditors and the Operating Facility Lenders in such a position that (after taking into account such payments) those losses are borne in those proportions (or, as the case may be, to otherwise reflect the order of priority contemplated in Clause 14.1 (Order of application)).
Equalisation. This clause 4.3 shall apply to a Subsequent Investor who is admitted to the Partnership after the First Closing Date pursuant to the provisions of clause 4.1 or who has increased their Commitment pursuant to clause 4.2, and where Loan Commitments have been drawn down (the "Relevant Drawdown") from existing Investors ("Previous Investors") on or after the First Closing Date but prior to the First Drawdown Date of the Subsequent Investor (otherwise than in respect of Commitments drawn down to meet any General Partner's Share and the provisions of clause 4.4 shall apply in respect of such drawdown). Such Subsequent Investor shall pay to the Partnership on its First Drawdown Date, an amount equal to (in addition to the Capital Contribution required under clause 5.2 and 5.3): the amount notified to such Subsequent Investor by the Manager as being necessary to equalise (in percentage terms) the net amount drawn down from all Investors (excluding any drawdowns in respect of the General Partner's Share, but for the avoidance of doubt including its share of Formation Expenses) after taking into account any amounts (other than any amounts equal to Equalisation Interest) distributed to Previous Investors as set out in this clause 4 ("Equalisation Amount"); and an additional amount calculated thereon during the period commencing on the date of the first Relevant Drawdown and ending on the First Drawdown Date of such Subsequent Investor equal to interest at the rate of ▇▇▇▇▇ plus 2 per cent per annum for the period from the date when such amount (or the relevant portion thereof) would have been drawn down had such Subsequent Investor been an Investor since the First Closing Date to the date of its admission ("Equalisation Interest"). The Equalisation Amount and Equalisation Interest shall be distributed to Previous Investors pro rata to their respective Outstanding Loans as soon as is practicable after receipt from Subsequent Investors. The Equalisation Amount so distributed will be in partial repayment of the Outstanding Loans of the Previous Investors and will increase their Undrawn Loan Commitments (so that immediately thereafter the amounts of all Investors' Undrawn Loan Commitments will bear the same proportion to their respective Loan Commitments) and thereby be available for drawdown again.
Equalisation. (a) If, for any reason, any Secured Liabilities in respect of the Super Senior Creditors remain unpaid after the Enforcement Date and the resulting losses are not borne by the Super Senior Creditors in the proportions which their respective Super Senior Credit Participations at the Enforcement Date bore to the aggregate Super Senior Credit Participations of all the Super Senior Creditors at the Enforcement Date, the Super Senior Creditors will make such payments amongst themselves as the Security Agent shall require to put the Super Senior Creditors in such a position that (after taking into account such payments) those losses are borne in those proportions.
(b) If, for any reason, any Secured Liabilities in respect of the Senior Secured Creditors remain unpaid after the Enforcement Date and the resulting losses are not borne by the Senior Secured Creditors in the proportions which their respective Senior Secured Credit Participations at the Enforcement Date bore to the aggregate Senior Secured Credit Participations of all the Senior Secured Creditors at the Enforcement Date, the Senior Secured Creditors will make such payments amongst themselves as the Security Agent shall require to put the Senior Secured Creditors in such a position that (after taking into account such payments) those losses are borne in those proportions
Equalisation. Current equalisation allowance will be grand-parented for anyone who is covered by the CEA at the date of ratification. Equalisation capped at 2 years and review wording. Moving forward Equalisation will be capped at two years.