Pro Rata Payment. The Issuer agrees that any payments to the Holders of the Notes (whether for principal, interest or otherwise) shall be made PRO RATA among all such Holders based upon the aggregate unpaid Principal Amount of the Notes held by each such Holder. If any Holder of a Note obtains any payment (whether voluntary, involuntary, by application of offset or otherwise) of principal or interest on such Note in excess of such Holder's PRO RATA share of payments obtained by all Holders of the Notes, such Holder shall make such payments to the other Holders of the Notes as is necessary to cause such Holders to share the excess payment ratably among each of them as provided in this Section.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Frontstep Inc), Securities Purchase Agreement (Frontstep Inc), Securities Purchase Agreement (Frontstep Inc)
Pro Rata Payment. The Issuer agrees that any payments to the Holders of the Notes (whether for principal, interest or otherwise) shall be made PRO RATA pro rata among all such Holders based upon the aggregate unpaid Principal Amount of the Notes held by each such Holder. If any Holder of a Note obtains any payment (whether voluntary, involuntary, by application of offset or otherwise) of principal or interest on such Note in excess of such Holder's PRO RATA pro rata share of payments obtained by all Holders of the Notes, such Holder shall make such payments to the other Holders of the Notes as is necessary to cause such Holders to share the excess payment ratably among each of them as provided in this Section.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Morgan Stanley Dean Witter & Co), Securities Purchase Agreement (Frontstep Inc), Securityholders Agreement (Nasdaq Stock Market Inc)
