Common use of Guarantor Contribution Clause in Contracts

Guarantor Contribution. In order to provide for just and equitable contribution among the Guarantors, the Guarantors hereby agree, inter se, that in the event any payment or distribution is made by any Guarantor (a “Funding Guarantor”) under its Guarantee, such Funding Guarantor shall be entitled to a contribution from each other Guarantor (if any) in a pro rata amount based on the respective net assets (as determined at such time in accordance with GAAP) of all of the Guarantors (including the Funding Guarantor) for all payments, damages and expenses incurred by that Funding Guarantor in discharging the Indenture Obligations or any other Guarantor’s obligations with respect to its Guarantee. The Trustee hereby accepts the trusts in the Indenture upon the terms and conditions herein set forth. [Signature Page Follows]

Appears in 2 contracts

Sources: Indenture (Weatherford International PLC), Tenth Supplemental Indenture (Weatherford International PLC)