Equalisation Definitions Sample Clauses

The Equalisation Definitions clause establishes the specific terms and concepts used to ensure fair allocation of profits, losses, or other financial adjustments among parties, typically in investment or partnership agreements. It clarifies how contributions, distributions, and returns are measured and compared, often detailing how new or existing participants are treated to maintain equity. By providing clear definitions, this clause prevents misunderstandings and disputes regarding financial equalisation, ensuring all parties are treated consistently and transparently.
Equalisation Definitions. For the purposes of this Clause 20:
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Equalisation Definitions. ‌ For the purposes of this Clause 17: Enforcement Date means the first date (if any) on which a Senior Creditor or a Super Priority Creditor takes enforcement action of the type described in paragraphs (a)(i), (a)(iii), (a)(iv) or (c) of the definition of Enforcement Action in accordance with the terms of this Agreement. Exposure means: (a) in relation to a Super Priority Lender, the aggregate amount of its participation (if any, and without double-counting) in all Utilisations outstanding under the Revolving Facilities at the Enforcement Date (assuming all contingent liabilities which have become actual liabilities since the Enforcement Date to have been actual liabilities at the Enforcement Date (but not including, for these purposes only, any interest that would have accrued from the Enforcement Date to the date of actual maturity in respect of those liabilities) and assuming any transfer of claims in respect of amounts outstanding under the Revolving Facilities and each Ancillary Facility in accordance with clause 9.6 (Adjustment for Ancillary Facilities upon acceleration) of the Senior Facilities Agreement which has taken place since the Enforcement Date to have taken place at the Enforcement Date) together with the aggregate amount of all accrued interest, fees and commission owed to it under the Senior Facilities Agreement and amounts owed to it by a Debtor in respect of any Ancillary Facility but excluding: (i) any amount owed to it by a Debtor in respect of any Ancillary Facility to the extent that that amount would not be outstanding but for a breach by that Senior Lender of any provision of clause 9 (Ancillary Facilities) of the Senior Facilities Agreement; (ii) any amount owed to it by a Debtor in respect of any Ancillary Facility to the extent (and in the amount) that SFA Cash Cover has been provided by a Debtor in respect of that amount and is available to that Senior Lender pursuant to the relevant SFA Cash Cover Document; and (iii) any amount outstanding in respect of a Letter of Credit to the extent (and in the amount) that SFA Cash Cover has been provided by a Debtor in respect of that amount and is available to the relevant Finance Party pursuant to the relevant SFA Cash Cover Document; and (b) in relation to a Hedge Counterparty: (i) if that Hedge Counterparty has terminated or closed out any hedging transaction under any Hedging Agreement in accordance with the terms of this Agreement on or prior to the Enforcement Date, the amount, if...
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