Common use of Equalization Clause in Contracts

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any advantage over the other Banks or any thereof in respect of the subject indebtedness it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the subject indebtedness owing to the other or others as shall be necessary to nullify the advantage. If any such advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the advantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the advantage) ratably to the extent of the recovery. During the existence of any default under this Agreement, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any indebtedness for borrowed money owing by Borrower to any Bank shall be applied to the subject indebtedness owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other indebtedness for borrowed money owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any advantage Advantage over the other Banks or any thereof in respect of the subject indebtedness Loans it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the subject indebtedness Loans owing to the other or others as shall be necessary to nullify the advantageAdvantage. If any such advantage Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the advantageAdvantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the advantageAdvantage) ratably to the extent of the recovery. During the existence of any default under this AgreementPotential Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any indebtedness for borrowed money Indebtedness owing by the Borrower to any Bank shall be applied to the subject indebtedness Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other indebtedness for borrowed money Indebtedness owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any advantage Advantage over the other Banks or any thereof in respect of the subject indebtedness Loans it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the subject indebtedness Loans owing to the other or others as shall be necessary to nullify the advantageAdvantage. If any such advantage Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the advantageAdvantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the advantageAdvantage) ratably to the extent of the recovery. During the existence of any default under this AgreementDefault, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any indebtedness for borrowed money Indebtedness owing by the Borrower to any Bank shall be applied to the subject indebtedness Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other indebtedness for borrowed money Indebtedness owing to that Bank. This Section 6.04 shall not affect or otherwise increase the obligations of the Borrower under this Agreement.

Equalization. Each Bank agrees with the other Banks Bank that if at any time it shall obtain any advantage Advantage over the other Banks Bank or any thereof in respect of the subject indebtedness Subject Indebtedness it will purchase from such other Bank or BanksBank, for cash and at par, such additional participation in the subject indebtedness Subject Indebtedness owing to the other or others as shall be necessary to nullify the advantageAdvantage. If any such advantage Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the advantageAdvantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the advantageAdvantage) ratably Ratably to the extent of the recovery. During the existence of any default under this AgreementEvent of Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any indebtedness for borrowed money owing by Borrower to any Bank shall be applied to the subject indebtedness Subject Indebtedness owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other indebtedness for borrowed money owing to that Bank.

Equalization. Each Bank agrees with the other Banks that if at any time it shall obtain any advantage Advantage over the other Banks or any thereof in respect of the subject indebtedness Advances it will purchase from such other Bank or Banks, for cash and at par, such additional participation in the subject indebtedness Advances owing to the other or others as shall be necessary to nullify the advantageAdvantage. If any such advantage Advantage resulting in the purchase of an additional participation as aforesaid shall be recovered in whole or in part from the Bank receiving the advantageAdvantage, each such purchase shall be rescinded, and the purchase price restored (with interest and other charges if and to the extent actually incurred by the Bank receiving the advantageAdvantage) ratably to the extent of the recovery. During the existence of any default under this AgreementPotential Default, any payment (whether made voluntarily or involuntarily, by offset of any deposit or other indebtedness or otherwise) of any indebtedness for borrowed money Indebtedness owing by the Borrower to any Bank shall be applied to the subject indebtedness Obligations owing to that Bank until the same shall have been paid in full before any thereof shall be applied to other indebtedness for borrowed money Indebtedness owing to that Bank.