Ratable Benefit Sample Clauses
The Ratable Benefit clause defines how benefits, such as payments, credits, or reductions, are distributed proportionally among parties based on a predetermined formula or share. In practice, this means that if a benefit arises—such as a refund, rebate, or cost savings—it is allocated to each party in proportion to their respective contributions, investments, or usage levels. This clause ensures fairness and transparency by preventing any party from receiving more than their equitable share, thereby reducing disputes and aligning incentives among all involved.
Ratable Benefit. This Guaranty is for the ratable benefit of the Lenders, each of which shall share any proceeds of this Guaranty pursuant to the terms of the Credit Agreement.
Ratable Benefit. This Guaranty is for the ratable benefit of each Guarantied Party, each of which shall share any proceeds of this Guaranty pursuant to the terms of Section 2.11(d) of the Loan Agreement.
Ratable Benefit. All collateral from time to time securing the Obligations shall exist for the ratable benefit of the Lenders. The interest of each Lender in the collateral from time to time existing shall be pro rata according to each Lender's Pro Rata Share of the outstanding principal Obligations owing to the Lenders, but the interest of each Lender in the collateral shall rank equally in priority with the interest of each other Lender. Irrespective of the time, order or method of attachment or perfection of the Lien, and irrespective of anything contained in any filing or agreement to which any of the Lenders is a party, any Lien in favor of any of the Lenders in any of the collateral described in the Loan Documents which arises out of any prior or subsequent transaction shall be subordinate to the Lien in such collateral in favor of the Lenders under the Loan Documents.
Ratable Benefit. The Collateral Agent shall hold the Collateral for the ratable benefit of the Secured Parties (in proportion to the principal amount of Notes held by each Secured Party). Distributions with regard to the Collateral (including any Proceeds) shall be made and applied to the Obligations as provided in Section 7.4 and this Section 8.3.