Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “Excess Amount”) then:
Appears in 7 contracts
Samples: Loan Agreement (DHT Holdings, Inc.), Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Baltic Trading LTD)
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 15.22 and in Clause 15.17 (Rescission of Excess Amount) 15.23 as the “Excess Amount”) then:
Appears in 7 contracts
Samples: Loan Agreement (Teekay Tankers Ltd.), Loan Agreement, Teekay LNG Partners L.P.
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “Excess Amount”) then:
Appears in 6 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-offset‑off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s 's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “"Excess Amount”") then:
Appears in 3 contracts
Samples: Third Supplemental Agreement (Genco Shipping & Trading LTD), Loan Agreement (Baltic Trading LTD), Loan Agreement (Baltic Trading LTD)
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s 's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “"Excess Amount”") then:
Appears in 2 contracts
Samples: Loan Agreement (Diana Shipping Inc.), Diana Shipping Inc.
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s 's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “Excess Amount”"EXCESS AMOUNT") then:
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.)
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s Lenxxx'x Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of Excess Amount) as the “Excess Amount”) then:Clause
Appears in 1 contract
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-offset‑off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s 's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 15.22 and in Clause 15.17 (Rescission of 15.23 as the "Excess Amount) as the “Excess Amount”") then:
Appears in 1 contract
Samples: Teekay LNG Partners L.P.
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s 's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of as the "Excess Amount) as the “Excess Amount”") then:
Appears in 1 contract
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that LenderXxxxxx’s Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 15.17 and in Clause 15.17 (Rescission of Excess Amount) 15.18 as the “Excess Amount”) then:
Appears in 1 contract
Samples: Teekay Offshore Partners L.P.
Redistribution of payments. Unless otherwise agreed between the Lenders and the Agent, if at any time a Lender receives or recovers by way of set-off, the exercise of any lien or otherwise from any Security Party, an amount greater than that Lender’s Xxxxxx's Proportionate Share of any sum due from that Security Party to the Lenders under the Finance Documents (the amount of the excess being referred to in this Clause 15.16 and in Clause 15.17 (Rescission of as the "Excess Amount) as the “Excess Amount”") then:
Appears in 1 contract
