REPAYABLE RECOVERIES Clause Samples
REPAYABLE RECOVERIES. If any part of the Sharing Payment received or recovered by a Recovering Bank becomes repayable and is repaid by such Recovering Bank, then:
27.4.1 each party which has received a share of such Sharing Payment pursuant to Clause 27.2 (Redistribution of Payments) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such Sharing Payment; and
27.4.2 such Recovering Bank’s rights of subrogation in respect of any reimbursement shall be cancelled and the relevant Obligor will be liable to the reimbursing party for the amount so reimbursed.
REPAYABLE RECOVERIES. If any sum (a "RELEVANT SUM") received or recovered by a Recovering Bank in respect of any amount owing to it by the Borrower becomes repayable and is repaid by such Recovering Bank, then:
(i) each Bank which has received a share of such relevant sum by reason of the implementation of Clause 19.1 (PAYMENTS) shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and
(ii) there shall thereupon fall due from the Borrower to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (i) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's share of such relevant sum was applied.
REPAYABLE RECOVERIES. If any part of the Sharing Payment received or recovered by a Recovering Bank becomes repayable and is repaid by such Recovering Bank, then:
REPAYABLE RECOVERIES. If any sum (a "relevant sum") received or recovered by a Recovering Bank in respect of any amount owing to it by any Transaction Party becomes repayable and is repaid by such Recovering Bank, then:
(a) each Bank which has received a share of such relevant sum by reason of the implementation of Section 9.01 shall, upon request of the Agent, pay to the Agent for account of such Recovering Bank an amount equal to its share of such relevant sum; and
(b) there shall thereupon fall due from the relevant Transaction Party to each such Bank an amount equal to the amount paid out by it pursuant to paragraph (a) above, the amount so due being, for the purposes hereof, treated as if it were the sum payable to such Bank against which such Bank's share of such relevant sum was applied.
REPAYABLE RECOVERIES. If the whole or any part of any sum (a "Relevant Sum") received or recovered by a Recovering Lender in respect of any amount owing to it by an Obligor becomes repayable and is repaid to such Obligor by such Recovering Lender, then:
(a) each Lender which has received a share of the Relevant Sum by reason of the implementation of Clause 23.1 (Redistribution of Payments) shall, upon request of the Facility Agent, pay to the Facility Agent for account of the Recovering Lender an amount equal to its share of the Relevant Sum; and
(b) there shall become due from such Obligor to each Lender an amount equal to the amount paid by it pursuant to paragraph (a) of this Clause 23.2, the amount so due being, for the purposes of the Finance Documents, treated as if it were the sum payable to such Lender against which such Lender's share of Relevant Sum was applied.
REPAYABLE RECOVERIES. If any sum ("A RELEVANT SUM") received or recovered by a Recovering Secured Creditor in respect of any amount owing to it by any Obligor or Shareholder becomes repayable and is repaid by such Recovering Secured Creditor, then:
(a) each Secured Creditor (other than a Recovering Secured Creditor) which has received a share of such Relevant Sum by reason of the implementation of clause 23.3 (Redistribution on or after Default Date) shall, upon request of the Security Trustee, pay to the Security Trustee for account of such Recovering Secured Creditor an amount equal to its share of such Relevant Sum; and
(b) as between the relevant Obligor or Shareholder and each such Secured Creditor, the amount repaid by such Secured Creditor pursuant to paragraph (a) above shall be treated as not having been paid.
REPAYABLE RECOVERIES. If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by such Recovering Finance Party, then:
26.4.1 each party which has received a share of such Sharing Payment pursuant to Clause 26.2 (Redistribution of payments) will, upon request of the Agent or the Security Trustee, pay to the Agent or the Security Trustee for account of such Recovering Finance Party an amount equal to its share of such Sharing Payment; and
26.4.2 such Recovering Finance Party’s rights of subrogation in respect of any reimbursement will be cancelled and the relevant Obligor will be liable to the reimbursing party for the amount so reimbursed.