Right to Contribution. Except as otherwise expressly provided herein, the Loan Parties are jointly and severally liable for the Obligations. However, the benefits of this Agreement and the Loans will not necessarily benefit each Loan Party to the same degree. In order to provide for just and equitable contribution among the Loan Parties, if any payment is made by a Loan Party (the "FUNDING LOAN PARTY") in discharging more than its Proportionate Share (hereinafter defined) of the Obligations, the Funding Loan Party shall be entitled to a contribution from each other Loan Party (each a "CONTRIBUTING LOAN PARTY") for all payments, damages and expenses incurred by the Funding Loan Party in discharging the Obligations, as set forth in this Section 8.13.
Appears in 1 contract
Sources: Senior Secured Credit Agreement (Corporate Office Properties Trust)
Right to Contribution. Except as otherwise expressly provided herein, the Loan Parties are jointly and severally liable for the Obligations. However, the benefits of this Agreement and the Loans Loan will not necessarily benefit each Loan Party to the same degree. In order to provide for just and equitable contribution among the Loan Parties, if any payment is made by a Loan Party (the "FUNDING LOAN PARTYFunding Loan Party") in discharging more than its Proportionate Share (hereinafter defined) of the Obligations, the Funding Loan Party shall be entitled to a contribution from each other Loan Party (each a "CONTRIBUTING LOAN PARTYContributing Loan Party") for all payments, damages and expenses incurred by the Funding Loan Party in discharging the Obligations, as set forth in this Section 8.13.
Appears in 1 contract
Sources: Senior Secured Credit Agreement (Royale Investments Inc)