Common use of Sharing of Payments, Etc Clause in Contracts

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Natco Group Inc), Loan Agreement (Natco Group Inc), Loan Agreement (Natco Group Inc)

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Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other payment Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other payment Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other payment Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: And Consolidated Credit Agreement (Chambers Street Properties), Term Loan Agreement (Chambers Street Properties), Credit Agreement (Chambers Street Properties)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of any Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 3 contracts

Samples: Loan Agreement (Park Hotels & Resorts Inc.), Loan Agreement (Park Hotels & Resorts Inc.), Assignment and Assumption Agreement (Park Hotels & Resorts Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall shall, subject to Section 3.11. if applicable, share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Assignment and Acceptance Agreement (CubeSmart, L.P.), Assignment and Acceptance Agreement (CubeSmart, L.P.), Assignment and Acceptance Agreement (U-Store-It Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the Loan made to it by it Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim counterclaim, or similar right, or otherwise, it or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.1, Section 3.2 or Section 11.5, as applicable, such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the Loans madeextent specified by such Lender, or Reimbursement Obligations direct interests in) the portion of the Loan made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.1, Section 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations portion of the Loan or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim counterclaim, or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations such portion of the Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Equity One, Inc.), Loan Agreement (Equity One, Inc.), Loan Agreement (Equity One, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it of its Loans under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than a payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (DiamondRock Hospitality Co)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of a Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participationparticipation so long as such Participant has agreed to be subject to this Section. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Washington Real Estate Investment Trust), Credit Agreement (Washington Real Estate Investment Trust), Term Loan Agreement (Washington Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any Loan on, the Loans made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.3, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Commitment or Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.), Term Loan Agreement (Piedmont Office Realty Trust, Inc.), Term Loan Agreement (Piedmont Office Realty Trust, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by Borrower through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to Lenders pro rata in accordance with Section 4.2, or otherwise, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Unpaid Drawings or Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and shall make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 4.2. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Unpaid Drawings or Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations Unpaid Drawings or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement (MCG Capital Corp), Revolving Credit Agreement (MCG Capital Corp), Revolving Credit Agreement (MCG Capital Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 3 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section SECTION 9.2 hereof), banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata PRO RATA in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, or Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 3 contracts

Samples: Loan Agreement (Innovative Valve Technologies Inc), Loan Agreement (Innovative Valve Technologies Inc), Loan Agreement (Innovative Valve Technologies Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the portion of the Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim counterclaim, or similar right, or otherwise, it or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.1, Section 3.2 or Section 11.5, as applicable, such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the Loans madeextent specified by such Lender, or Reimbursement Obligations direct interests in) the portion of the Loan made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.1, Section 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations portion of the Loan or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim counterclaim, or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations such portion of the Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Equity One, Inc.), Loan Agreement (Equity One, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrowers or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class of such Lender pro rata in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of a Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (LXP Industrial Trust), Credit Agreement (Lexington Realty Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participationparticipation so long as such Participant has agreed to be subject to this Section. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Amended And (Washington Real Estate Investment Trust), Designation Agreement (Washington Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Excel Trust, Inc.), Credit Agreement (Excel Trust, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it of its Loans under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than a payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (DiamondRock Hospitality Co), Term Loan Agreement (DiamondRock Hospitality Co)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any portion of the Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the Loans madeextent specified by such Lender, or Reimbursement Obligations direct interests in) the portion of the Loan made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations Loan or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations the Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (RLJ Lodging Trust), Term Loan Agreement (RLJ Lodging Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lien, counterclaim or similar right, right or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Natco Group Inc), Loan Agreement (Boots & Coots International Well Control Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 11.5, as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Spirit Realty Capital, Inc.), Term Loan Agreement (Realty Income Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrowers under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrowers or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrowers or any other Loan Party to a Lender (other than any payment in respect of Secured Derivatives Obligations or Secured Cash Management Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.02 or Section 10.05, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.02 or Section 10.05, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, The Borrowers agree that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrowers. Notwithstanding the foregoing, the provisions of this Section 3.03 shall not be construed to apply to (i) any Borrowerpayment made by the Borrowers pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), or (ii) any payment obtained by a Lender as consideration for the assignment of, or sale of a participation in, any of its Loans or participations in Letters of Credit to any assignee or Participant.

Appears in 2 contracts

Samples: Credit Agreement (General Growth Properties, Inc.), Credit Agreement (General Growth Properties, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment, if in respect of a Revolving Loan should be distributed to the Revolving Lenders or otherwiseif in respect of a Term Loan to the Term Loan Lenders, it in each case, in accordance with Section 3.2. or Section 11.5., as applicable, such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Revolving Loans madeand or Term Loans, or Reimbursement Obligations as applicable, made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Broadstone Net Lease Inc), Credit Agreement (Broadstone Net Lease Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.3, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Commitments or Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.), Term Loan Agreement (Piedmont Office Realty Trust, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to a Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by a Borrower through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of a Borrower to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to other Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the applicable Loans made, or Reimbursement Obligations made by such other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Sl Green Operating Partnership, L.P.), Credit Agreement (Sl Green Operating Partnership, L.P.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Franchise Agreement (Hospitality Properties Trust), Term Loan Agreement (Federal Realty Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Federal Realty OP LP), Term Loan Agreement (Federal Realty Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 9.5, or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 9.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust), Credit Agreement (Pennsylvania Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)setoff, banker's lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-offsetoff, bankers' banker's lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (CBL & Associates Properties Inc), Credit Agreement (CBL & Associates Properties Inc)

Sharing of Payments, Etc. If a Lender any Bank shall obtain payment effect payment, in cash or otherwise, of any Facility Fees or any principal of or interest on any a Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, Agreement through the exercise of any right of set-off (includingoff, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's bankers’ lien, counterclaim or similar right, and such Bank shall have received a greater percentage, in cash or otherwise, of the Facility Fees or the principal or interest then due hereunder to such Bank in respect of its Loans than the percentage received by any other Bank, it shall promptly purchase from the other Lenders Banks participations in the Loans made, or Reimbursement Obligations or other Obligations held, made by the other Lenders Banks in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders Banks shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to Facility Fees, principal and interest on the Loans held by each of them. To such end all the Lenders Banks shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender Bank so purchasing a participation in the Loans made, or Reimbursement Obligations or made by the other Obligations held, Banks under this Section 5.7 may to the extent permitted by other Lenders may applicable law exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender Bank were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender Bank to exercise any such right or shall affect the right of any Lender Bank to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Borrowerholder of a participation in a Loan, whether or not acquired pursuant to the foregoing arrangements, may to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such holder of a participation were a direct creditor of the Borrower in the amount of such participation.

Appears in 2 contracts

Samples: Administration Agreement (American Honda Finance Corp), Transfer Supplement (American Honda Finance Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrowers under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrowers or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrowers or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, The Borrowers agree that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (American Realty Capital Properties, Inc.), Option and Subordination Agreement (CapLease, Inc.)

Sharing of Payments, Etc. If a any Lender shall obtain any payment or reduction (including, without limitation, any amounts received as adequate protection of any principal a deposit treated as cash collateral under the Bankruptcy Code) of or interest on any Loan made by it under this Agreementthe Obligations (whether voluntary, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunderinvoluntary, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lien, counterclaim or similar rightoff, or otherwise) in excess of its Applicable Commitment Percentage of payments or reductions on account of such obligations obtained by all the Lenders (other than payments of principal, it interest and fees with respect to the Competitive Bid Loans which are payable solely to the Lenders participating therein), such Lender shall promptly forthwith (i) notify each of the other Lenders and Agent of such receipt, and (ii) purchase from the other Lenders such participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time affected obligations as shall be equitable necessary to the end that all the Lenders shall cause such purchasing Lender to share the benefit of such excess payment (or reduction, net of any expenses which may be costs incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance connection therewith, ratably with the unpaid Obligations then due to each of them. To , provided that if all or any portion of such end all excess payment or reduction is thereafter recovered from such purchasing Lender or additional costs are incurred, the Lenders purchase shall make appropriate adjustments among themselves (by be rescinded and the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, purchase price restored to the fullest extent it may effectively do so under applicable lawof such recovery or such additional costs, but without interest unless the Lender obligated to return such funds is required to pay interest on such funds. Borrower agrees that any Lender so purchasing a participation in from another Lender pursuant to this Section 4.16. may, to the Loans madefullest extent permitted by law, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all its rights of payment (including the right of set-off, bankers' lien, counterclaim or similar rights ) with respect to such participation as fully as if such Lender were a the direct holder creditor of Loans, Reimbursement Obligations or other Obligations Borrower in the amount of such participation. Nothing contained herein shall require Any payment received by the Agent or any Lender following the occurrence and during the continuation of an Event of Default shall be distributed pro rata amongst the Lenders based upon the percentage obtained by dividing the Obligations owing to exercise any each Lender by the total amount of Obligations on the date of receipt of such right or shall affect payment, with such amounts to be applied to the right outstanding Obligations in accordance with the terms of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthis Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Rock Tenn Co), Credit Agreement (Rock Tenn Co)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties, L.P.), And Consolidated Credit Agreement (Corporate Office Properties, L.P.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of any Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 10.5, or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 10.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Pennsylvania Real Estate Investment Trust), Intercreditor Agreement (Pennsylvania Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.3, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.), Term Loan Agreement (Piedmont Office Realty Trust, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof9.02), banker's lienLien, counterclaim or similar right, or otherwiseotherwise (other than a setoff right in connection with any credit extended by such Lender outside this Agreement)), it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lienLien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any either Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Evi Inc), Credit Agreement (Evi Weatherford Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (American Homes 4 Rent), Credit Agreement (United Dominion Realty L P)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)set‑off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.4, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.4, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Commitments or Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-offset‑off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.), Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Sharing of Payments, Etc. If a any Lender shall obtain any payment of any principal of or interest on any Loan made other recovery (whether voluntary, involuntary, by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right application of setoff or Lien granted under Section 9.2 hereof)otherwise) on account of any Loan or L/C Obligation, banker's lien(other than pursuant to the terms of Sections 3.1, counterclaim 3.3 or similar right3.4) in excess of its Total Pro Rata Share of payments then or therewith obtained by the other Lenders, or otherwise, it such Lender shall promptly purchase from the other Lenders such participations (or subparticipations) in the Loans madeor L/C Obligations, or Reimbursement Obligations or other Obligations heldas applicable, held by the such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each other Lender; provided that if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender, the purchase shall be rescinded and each Lender that has sold a participation to such purchasing Lender shall repay to such purchasing Lender the purchase price to the end that all the Lenders shall share the benefit ratable extent of such payment recovery together with an amount equal to such selling Lender’s ratable share (net according to the proportion of (a) the amount of such selling Lender’s required repayment to such purchasing Lender to (b) the total amount so recovered from such purchasing Lender) of any expenses which may be incurred interest or other amount paid or payable by such purchasing Lender in obtaining or preserving such benefit) pro rata in accordance with respect of the unpaid Obligations then due to each of themtotal amount so recovered. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, The Borrowers agree that any Lender so purchasing a participation in from another Lender pursuant to this Section may, to the Loans madefullest extent permitted by law, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all its rights of set-off, bankers' lien, counterclaim or similar rights payment (including pursuant to Section 11.10) with respect to such participation as fully as if such Lender were a the direct holder creditor of Loans, Reimbursement Obligations or other Obligations the applicable Borrower in the amount of such participation. Nothing contained herein shall require If under any applicable bankruptcy, insolvency or other similar law, any Lender receives a secured claim in lieu of a setoff to which this Section applies, such Lender shall, to the extent practicable, exercise any its rights in respect of such right or shall affect secured claim in a manner consistent with the right rights of any Lender the Lenders entitled under this Section to exercise, and retain share in the benefits of exercisingany recovery on such secured claim. The Lenders may, without the consent of any such right Borrower or any other Person, make arrangements among themselves to amend or otherwise modify this Section 2.17 to establish different sharing arrangements with respect to payments by or on behalf of the Borrowers; provided that any other indebtedness such amendment, modification or obligation of any Borrowersharing arrangement shall be consented to by all Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Smith a O Corp), Credit Agreement (Smith a O Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. ​

Appears in 2 contracts

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, its Loan made by it under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender, or otherwiseother payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement, it and such payment should be distributed in accordance with Section 3.2. or Section 10.5., such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders obtaining any such payment (including by purchase of any participation) shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if any such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Bridge Loan Agreement (Select Income REIT)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.3., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (First Potomac Realty Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Hudson Pacific Properties, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, its Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Equity Lifestyle Properties Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 10.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 10.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower or any Borrowerother Loan Party.

Appears in 1 contract

Samples: Credit Agreement (Office Properties Income Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.3. or Section 10.3., or otherwise, it such Lender shall promptly either (i) remit such amounts received to the Agent for distribution to the Lenders in accordance with Section 3.3. or Section 10.3. or (ii) purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.3. or Section 10.3., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Centers Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section 9.2 hereof), banker's or other lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid principal and interest on the Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' or other lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower. 5.

Appears in 1 contract

Samples: Credit Agreement (Sterling Chemicals Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participationparticipation so long as such Participant has agreed to be subject to this Section. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of its Note or of interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, thereon through the exercise of any right of set-off setoff, banker’s lien, counterclaim, or by any other means (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereofincluding direct payment), banker's lienand such payment results in such Lender receiving a greater payment than it would have been entitled to had such payment been paid directly to Administrative Agent for disbursement to Lenders, counterclaim or similar rightthen such Lender shall immediately return such payment to Administrative Agent for disbursement to Lenders in accordance with the terms hereof. Should such Lender fail to return such payment to Administrative Agent within three (3) Business Days after receipt by such Lender, or otherwise, it such Lender shall promptly immediately purchase for cash from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders Loan in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share ratably the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of thempayment. To such end all the end, Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by Individual Loan Commitments owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations the Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower...

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of ​ ​ participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. ​

Appears in 1 contract

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section 9.2 9.02 hereof), banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, or Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (Hydril Co)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations or any Specified Cash Management Agreement) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Parkway, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section SECTION 9.2 hereof), banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations made or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata PRO RATA in accordance with the unpaid Obligations then due to each of themthem (after giving due consideration to any similar payments obtained by the other Lenders). To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations made or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations Loans or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (HCC Insurance Holdings Inc/De/)

Sharing of Payments, Etc. If a Lender any Bank shall obtain payment effect payment, in cash or otherwise, of any principal of Undrawn Fees, Utilization Fees or any Accommodations Outstanding, accrued interest on any Loan made by it thereon or other obligations under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, Agreement through the exercise of any right of set-off (includingoff, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's bankers’ lien, counterclaim or similar right, and such Bank shall have received a greater percentage, in cash or otherwise, of the Undrawn Fees, Utilization Fees, any Accommodations Outstanding, accrued interest thereon or other obligations then due hereunder to such Bank than the percentage received by any other Bank, it shall promptly purchase from the other Lenders Banks participations in the Loans made, or Reimbursement Obligations or other Obligations held, Accommodations Outstanding made by the other Lenders Banks in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders Banks shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to Undrawn Fees, unpaid Utilization Fees, Accommodations Outstanding and accrued interest thereon and other obligations held by each of them. To such end all the Lenders Banks shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender Bank so purchasing a participation in the Loans made, or Reimbursement Obligations or Accommodations Outstanding made by the other Obligations held, Banks under this Section 5.8 may to the extent permitted by other Lenders may applicable law exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender Bank were a direct holder of Loans, Reimbursement Obligations or other Obligations such Accommodations Outstanding in the amount of such participation. Nothing contained herein shall require any Lender Bank to exercise any such right or shall affect the right of any Lender Bank to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Borrowerholder of a participation in a Loan, whether or not acquired pursuant to the foregoing arrangements, may to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such holder of a participation were a direct creditor of the Borrower in the amount of such participation.

Appears in 1 contract

Samples: Credit Agreement (American Honda Finance Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall shall, subject to Section 3.11. if applicable, share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Sharing of Payments, Etc. If a any Lender shall obtain any payment of any principal of or interest on any Loan the Loans made by it under this Agreement, on any Reimbursement Obligation Agreement or on payment of any other Obligation obligation under the Loan Documents then due owed by the Borrower or any other Obligated Party to such Lender hereunderLender, whether voluntary, involuntary, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)setoff, banker's lien, counterclaim or similar right, or otherwise, it in excess of its pro rata share, such Lender shall promptly purchase from the other Lenders participations in those portions of the Loans made, or Reimbursement Obligations or other Obligations held, held by the other Lenders them hereunder in such amounts, and make such other adjustments from time to time as shall be equitable necessary to the end that all the Lenders shall cause such purchasing Lender to share the benefit excess payment ratably with each of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata the other Lenders in accordance with the unpaid Obligations then due to each of themits pro rata portion thereof. To such end end, all of the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if all or any portion of such excess payment is thereafter rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in those portions of the Loans made, or Reimbursement Obligations or other Obligations held, made by the other Lenders may exercise all rights of set-offsetoff, bankers' banker's lien, counterclaim counterclaim, or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations those portions of the Loans to the Borrower in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Loan Agreement (T-3 Energy Services Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)setoff, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-offsetoff, bankers' banker’s lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (CBL & Associates Properties Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due requirements of Section 3.2 or Section 11.5, as applicable; provided that the provisions of this Section 3.3 shall not be construed to each apply to (x) the application of themCash Collateral provided for in Section 3.9(f) or (y) any payment obtained by the Lender as consideration for the assignment of, or sale of a participation in, any of its Letters of Credit to any assignee or participant, other than the Borrower or any of its Subsidiaries or Affiliates (as to which the provisions of this Section shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Lodging Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of a Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to suchthe other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.such

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwise, it such Lender shall promptly purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participationparticipation so long as such Participant has agreed to be subject to this Section. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)set‑off, banker's lien, lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.4, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.4, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Commitments or Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-offset‑off, bankers' banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

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Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to a Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrowers or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of any Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section ý3.2 or Section ý10.4, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection ý3.2 or Section ý10.4, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, The Borrowers agree that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 1 contract

Samples: Term Loan Agreement (Lexington Realty Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by Borrower through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to some or all of the Lenders pro rata in accordance with Section 3.6, or otherwise, it such Lender shall promptly purchase from the other applicable Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by such other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the applicable Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.6. To such end end, all the applicable Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Construction Loan Agreement (Bluerock Residential Growth REIT, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: And Consolidated Credit Agreement (Equity Lifestyle Properties Inc)

Sharing of Payments, Etc. If a any Lender shall obtain any payment or reduction (including, without limitation, any amounts received as adequate protection of any principal a deposit treated as cash collateral under the Bankruptcy Code) of or interest on any Loan made by it under this Agreementthe Obligations (whether voluntary, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunderinvoluntary, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lien, counterclaim or similar rightoff, or otherwise) in excess of its Pro Rata Share of payments or reductions on account of such obligations obtained by all the Lenders (other than payments of principal, it interest and fees with respect to the Loans which are payable solely to the Lenders participating therein), such Lender shall promptly forthwith (i) notify each of the other Lenders and Agent of such receipt, and (ii) purchase from the other Lenders such participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time affected obligations as shall be equitable necessary to the end that all the Lenders shall cause such purchasing Lender to share the benefit of such excess payment (or reduction, net of any expenses which may be costs incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance connection therewith, ratably with the unpaid Obligations then due to each of them. To , provided that if all or any portion of such end all excess payment or reduction is thereafter recovered from such purchasing Lender or additional costs are incurred, the Lenders purchase shall make appropriate adjustments among themselves (by be rescinded and the resale purchase price restored to the extent of participations sold such recovery or otherwise) if such payment additional costs, but without interest unless the Lender obligated to return such funds is rescinded or must otherwise be restoredrequired to pay interest on such funds. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation in from another Lender pursuant to this Section 4.15 may, to the Loans madefullest extent permitted by law, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all its rights of payment (including the right of set-off, bankers' lien, counterclaim or similar rights ) with respect to such participation as fully as if such Lender were a the direct holder creditor of Loans, Reimbursement Obligations or other Obligations such Borrower in the amount of such participation. Nothing contained herein shall require Any payment received by the Agent or any Lender following the occurrence and during the continuation of an Event of Default shall be distributed pro rata amongst the Lenders based upon the percentage obtained by dividing the Obligations owing to exercise any each Lender by the total amount of Obligations on the date of receipt of such right or shall affect payment, with such amounts to be applied to the right outstanding Obligations in accordance with the terms of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthis Agreement.

Appears in 1 contract

Samples: Contribution Agreement (Dyersburg Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of its Loans of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than a payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower. Section 3.4.

Appears in 1 contract

Samples: Credit Agreement (DiamondRock Hospitality Co)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Parkway Properties Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrowers to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or Section 10.3., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2. or Section 10.3., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, The Borrowers agree that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Maguire Properties Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.3 or Section 9.4, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the Loans madeextent specified by such Lender, or Reimbursement Obligations direct interests in) the Loan made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.3 or Section 9.4, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations Loan or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations the Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Ps Business Parks Inc/Ca)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations the Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (RLJ Lodging Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender, or otherwiseother payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement, it and such payment should be distributed in accordance with Section 3.2 or Section 10.5, such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 10.5, as applicable. To such end end, all the Lenders obtaining any such payment (including by purchase of any participation) shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if any such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Select Income Reit)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lienLien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lienLien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.Obligations

Appears in 1 contract

Samples: Loan Agreement (National Oilwell Inc)

Sharing of Payments, Etc. If a Lender any Bank shall obtain payment effect payment, in cash or otherwise, of any principal Undrawn Fees or any Accommodations Outstanding of a Class, accrued interest thereon or interest on any Loan made by it other obligations of a Class under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, Agreement through the exercise of any right of set-off (includingoff, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's bankers’ lien, counterclaim or similar right, and such Bank shall have received a greater percentage, in cash or otherwise, of the Undrawn Fees, any Accommodations Outstanding of such Class, accrued interest thereon or other obligations of such Class then due hereunder to such Bank than the percentage received by any other applicable Bank of such Class, it shall promptly purchase from the other Lenders applicable Banks participations in the Loans made, or Reimbursement Obligations or Accommodations Outstanding of such Class made by such other Obligations held, by the other Lenders Banks in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders applicable Banks shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the applicable unpaid Obligations then due to Undrawn Fees, Accommodations Outstanding of such Class and accrued interest thereon and other obligations of such Class held by each of them. To such end all the Lenders applicable Banks shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender Bank so purchasing a participation in the Loans made, or Reimbursement Obligations or Accommodations Outstanding of a Class made by the other Obligations held, Banks under this Section 5.8 may to the extent permitted by other Lenders may applicable law exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender Bank were a direct holder of Loans, Reimbursement Obligations or other Obligations such Accommodations Outstanding in the amount of such participation. Nothing contained herein shall require any Lender Bank to exercise any such right or shall affect the right of any Lender Bank to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Borrowerholder of a participation in a Loan, whether or not acquired pursuant to the foregoing arrangements, may to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such holder of a participation were a direct creditor of the Borrower in the amount of such participation.

Appears in 1 contract

Samples: Credit Agreement (American Honda Finance Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.3. or Section 8.3., or otherwise, it such Lender shall promptly either (i) remit such amounts received to the Agent for distribution to the Lenders in accordance with Section 3.3. or Section 8.3. or (ii) purchase from the such other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.3. or Section 8.3., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with the respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Regency Centers Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of ​ ​ such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. ​

Appears in 1 contract

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any ------------------------- principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section 9.2 hereof), ----------- banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations -------- then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, or Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (Carrols Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, including any right of setoff or Lien lien granted under Section 9.2 hereofSECTION 9.2), banker's or other lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata PRO RATA in accordance with the unpaid principal and interest on the Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' or other lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Equalnet Holding Corp)

Sharing of Payments, Etc. If a any Lender shall obtain any payment or reduction (including, without limitation, any amounts received as adequate protection of any principal a deposit treated as cash collateral under the Bankruptcy Code) of or interest on any Loan made by it under this Agreementthe Obligations (whether voluntary, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunderinvoluntary, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's lien, counterclaim or similar rightoff, or otherwise) in excess of its Applicable Commitment Percentage of payments or reductions on account of such obligations obtained by all the Lenders (other than payments of principal, it interest and fees with respect to the Competitive Bid Loans which are payable solely to the Lenders participating therein), such Lender shall promptly forthwith (i) notify each of the other Lenders and Agent of such receipt, and (ii) purchase from the other Lenders such participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time affected obligations as shall be equitable necessary to the end that all the Lenders shall cause such purchasing Lender to share the benefit of such excess payment (or reduction, net of any expenses which may be costs incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance connection therewith, ratably with the unpaid Obligations then due to each of them. To , provided that if all or any portion of such end all excess payment or reduction is thereafter recovered from such purchasing Lender or additional costs are incurred, the Lenders purchase shall make appropriate adjustments among themselves (by be rescinded and the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, purchase price restored to the fullest extent it may effectively do so under applicable lawof such recovery or such additional costs, but without interest unless the Lender obligated to return such funds is required to pay interest on such funds. Borrower agrees that any Lender so purchasing a participation in from another Lender pursuant to this Section 3.16. may, to the Loans madefullest extent permitted by law, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all its rights of payment (including the right of set-off, bankers' lien, counterclaim or similar rights ) with respect to such participation as fully as if such Lender were a the direct holder creditor of Loans, Reimbursement Obligations or other Obligations Borrower in the amount of such participation. Nothing contained herein shall require Any payment received by the Agent or any Lender following the occurrence and during the continuation of an Event of Default shall be distributed pro rata amongst the Lenders based upon the percentage obtained by dividing the Obligations owing to exercise any each Lender by the total amount of Obligations on the date of receipt of such right or shall affect payment, with such amounts to be applied to the right outstanding Obligations in accordance with the terms of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dollar General Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with Section 3.2 or Section 10.3, as applicable; provided that the unpaid Obligations then due provisions of this paragraph shall not be construed to each apply to any payment made by the Borrower pursuant to and in accordance with the express terms of themthis Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Commitments or Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.such

Appears in 1 contract

Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of a Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participationparticipation so long as such Participant has agreed to be subject to this Section. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. LEGAL02/40926073v6

Appears in 1 contract

Samples: Credit Agreement (Elme Communities)

Sharing of Payments, Etc. If a any Lender shall obtain any payment of any principal of or interest on any Loan Advance made by it under this Agreement, on any Reimbursement Obligation Agreement or on payment of any other Obligation obligation under the Loan Documents then due owed by the Borrower or any other Obligated Party to such Lender hereunderLender, whether voluntary, involuntary, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, counterclaim or similar right, or otherwise, it in excess of its pro rata share (calculated (i) pursuant to Section 3.5 in respect of letter of credit fees, and (ii) for all other of the Primary Obligations on the basis of the unpaid principal of and interest on the Revolving Credit Loan, the Tranche B Loan, the Swing Loan, LC Participations and SL Participations held by it), such Lender shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Primary Obligations or other Obligations held, by the other Lenders owed to them hereunder in such amounts, and make such other adjustments from time to time as shall be equitable necessary to the end that all the Lenders shall cause such purchasing Lender to share the benefit excess payment ratably with each of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata the other Lenders in accordance with the unpaid Obligations then due to each of themits pro rata portion thereof. To such end end, all of the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if all or any portion of such excess payment is thereafter rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, Advances and LC Participations made by the other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim counterclaim, or similar rights with respect to such participation as fully as if such Lender were a direct holder of LoansAdvances to, Reimbursement Obligations or other Obligations Letter of Credit Disbursements for the account of, the Borrower in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Ezcorp Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall shall, subject to Section 3.11. if applicable, share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section 9.2 hereof), banker's ’s lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, or Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (Carrols Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of any Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender, or otherwiseother payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement, it and such payment should be distributed in accordance with Section 3.2. or Section 10.5., such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due requirements of Section 3.2. (including, in the case of the 2022 Term Loans, any premium required to each be paid under Section 2.8.(c) on the amount of themsuch 2022 Term Loans so prepaid) or of Section 10.5., as applicable; provided, however, that, with respect to any such voluntary prepayment directly to such Lender that is identified as payment for a certain Class of Loans, so long as no Event of Default exists, such Lender shall promptly purchase only from the other Lenders of the same Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans of such Class made by the other Lenders of such Class in such amounts, and make such other adjustments from time to time as shall be equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) in accordance with the requirements of Section 3.2. (including, in the case of the 2022 Term Loans, any premium required to be paid under Section 2.8.(c) on the amount of such 2022 Term Loans so prepaid). To such end end, all the Lenders obtaining any such payment (including by purchase of any participation) shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if any such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made(or if purchasing a participation (or direct interest) in a certain Class of Loans, or Reimbursement Obligations in such Class of Loans) or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans or such Class of Loans, Reimbursement Obligations or other Obligations as applicable, in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Government Properties Income Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. - 56 - LEGAL02\42427047.v4

Appears in 1 contract

Samples: Credit Agreement (Equity Lifestyle Properties Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Swap Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2 or Section 11.5, as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker's lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Healthcare Trust of America, Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section SECTION 9.2 hereof), banker's lienLien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata PRO RATA in accordance with the unpaid Obligations then due to each of them. To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lienLien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (Railtex Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, or on any Reimbursement Obligation or on any other Obligation obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid principal and interest on the Obligations then due to each of themthem (provided, however, that the foregoing shall not apply to payments of Competitive Loans made prior to the termination of the Commitments following the occurrence of an Event of Default). To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower The Company agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Loans and Reimbursement Obligations or other Obligations obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness Indebtedness or obligation of any BorrowerObligor.

Appears in 1 contract

Samples: Guaranty Agreement (Ocean Energy Inc /Tx/)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it of its Loans under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation direct interest in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations in the amount of such participationinterest. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Gladstone Commercial Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on any on, the Term Loan or the portion of the Term Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Obligor through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to some or all of the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other applicable Lenders participations in (or, if and to the Loans madeextent specified by such Lender, or Reimbursement Obligations direct interests in) the portion of the Term Loan made by such other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the applicable Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2 or Section 10.3. To such end end, all the applicable Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations portion of the Term Loan or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations the portion of the Term Loan in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Wells Real Estate Investment Trust Ii Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Saul Centers Inc)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 10.5., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.5., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, from and after the Fifth Amendment Effective Date, the consent of all Lenders shall be required to amend or otherwise modify the provisions of this Section 3.3.

Appears in 1 contract

Samples: Credit Agreement (Diversified Healthcare Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by any Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of any Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2. or Section 11.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders Lenders’ participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 11.511.4., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrowerthe Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders in accordance with Section 3.2 or Section 11.5, or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due requirements of Section 3.2 or Section 11.5, as applicable; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to each the extent of themsuch recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (Spirit Realty, L.P.)

Sharing of Payments, Etc. If a Lender any Bank shall obtain payment effect payment, in cash or otherwise, of any Facility Fees or any principal of or interest on any a Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, Agreement through the exercise of any right of set-off (includingoff, without limitation, any right of setoff or Lien granted under Section 9.2 hereof), banker's bankers’ lien, counterclaim or similar right, and such Bank shall have received a greater percentage, in cash or otherwise, of the Facility Fees or the principal or interest then due hereunder to such Bank in respect of its Loans than the percentage received by any other Bank, it shall promptly purchase from the other Lenders Banks participations in the Loans made, or Reimbursement Obligations or other Obligations held, made by the other Lenders Banks in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders Banks shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to Facility Fees, principal and interest on the Loans held by each of them. To such end all the Lenders Banks shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender Bank so purchasing a participation in the Loans made, or Reimbursement Obligations or made by the other Obligations held, Banks under this Section 5.7 may to the extent permitted by other Lenders may applicable law exercise all rights of set-off, bankers' lien, counterclaim counterclaim, or similar rights with respect to such participation as fully as if such Lender Bank were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender Bank to exercise any such right or shall affect the right of any Lender Bank to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of the Borrower. The Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Borrowerholder of a participation in a Loan, whether or not acquired pursuant to the foregoing arrangements, may to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such holder of a participation were a direct creditor of the Borrower in the amount of such participation. In the event that any Defaulting Bank shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.9 and, pending such payment, shall be segregated by such Defaulting Bank from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Banks, and (y) the Defaulting Bank shall provide promptly to the Administrative Agent a statement describing in reasonable detail the obligations owing to such Defaulting Bank as to which it exercised such right of setoff. For the avoidance of doubt, the provisions of this paragraph shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Bank as consideration for the assignment of or sale of a participation in any of its Loans or Commitments to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of this paragraph shall apply).

Appears in 1 contract

Samples: Day Credit Agreement (American Honda Finance Corp)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender (other than any payment in respect of Specified Derivatives Obligations) not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders pro rata in accordance with Section 3.2. or Section 10.3., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by the other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.3., as applicable. To such end end, all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (First Potomac Realty Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan of a Class made by it to the Borrower under this Agreement, on any Reimbursement Obligation Agreement or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Loan Party through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)off, banker's ’s lien, counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by or on behalf of the Borrower or any other Loan Party to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to the Lenders of the same Class as such Lender in accordance with Section 3.2. or Section 10.4., or otherwiseas applicable, it such Lender shall promptly purchase from the other Lenders of such Class participations in (or, if and to the extent specified by such Lender, 4889-7534-3155, v. 14 direct interests in) the Loans made, or Reimbursement Obligations of such Class made by the other Lenders of such Class or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the Lenders of such Class shall share the benefit of such payment (net of any reasonable expenses which may actually be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each requirements of themSection 3.2. or Section 10.4., as applicable. To such end end, all the Lenders of such Class shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender of such Class so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to the other Lenders of such Class may exercise all rights of set-off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans of such Class in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, exercise and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

Sharing of Payments, Etc. If a Lender shall obtain payment of any principal of of, or interest on on, any Loan made by it to the Borrower under this Agreement, on any Reimbursement Obligation or shall obtain payment on any other Obligation then due to such Lender hereunder, owing by the Borrower or any other Obligor through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien granted under Section 9.2 hereof)set‑off, banker's lien, ’s lien or counterclaim or similar rightright or otherwise or through voluntary prepayments directly to a Lender or other payments made by the Borrower to a Lender not in accordance with the terms of this Agreement and such payment should be distributed to some or all 32 A/75663178.5 of the Lenders pro rata in accordance with Section 3.2 or Section 10.3, or otherwiseas applicable, it such Lender shall promptly purchase from the other applicable Lenders participations in (or, if and to the extent specified by such Lender, direct interests in) the Loans made, or Reimbursement Obligations made by such other Lenders or other Obligations held, by the owed to such other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable equitable, to the end that all the applicable Lenders shall share the benefit of such payment (net of any reasonable expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themSection 3.2 or Section 10.3. To such end end, all the applicable Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each The Borrower agrees, to the fullest extent it may effectively do so under applicable law, agrees that any Lender so purchasing a participation (or direct interest) in the Loans made, or Reimbursement Obligations or other Obligations held, by owed to such other Lenders may exercise all rights of set-offset‑off, bankers' banker’s lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, Reimbursement Obligations or other Obligations Loans in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any the Borrower.. Section 3.4

Appears in 1 contract

Samples: Term Loan Agreement

Sharing of Payments, Etc. If Subject to Section 2.8, if a Lender shall obtain payment of any principal of or interest on any Loan made by it under this Agreement, on any Reimbursement Obligation or on any other Obligation then due to such Lender hereunder, through the exercise of any right of set-off (including, without limitation, any right of setoff or Lien lien granted under Section 9.2 hereof), banker's ’s lien, counterclaim or similar right, or otherwise, it shall promptly purchase from the other Lenders participations in the Loans made, or Reimbursement Obligations or other Obligations held, by the other Lenders in such amounts, and make such other adjustments from time to time as shall be equitable to the end that all the Lenders shall share the benefit of such payment (net of any expenses which may be incurred by such Lender in obtaining or preserving such benefit) pro rata in accordance with the unpaid Obligations then due to each of themthem (after giving due consideration to any similar payments obtained by the other Lenders). To such end all the Lenders shall make appropriate adjustments among themselves (by the resale of participations sold or otherwise) if such payment is rescinded or must otherwise be restored. Each Borrower agrees, to the fullest extent it may effectively do so under applicable law, that any Lender so purchasing a participation in the Loans made, or Reimbursement Obligations or other Obligations held, by other Lenders may exercise all rights of set-off, bankers' lien, counterclaim or similar rights with respect to such participation as fully as if such Lender were a direct holder of Loans, or Reimbursement Obligations or other Obligations in the amount of such participation. Nothing contained herein shall require any Lender to exercise any such right or shall affect the right of any Lender to exercise, and retain the benefits of exercising, any such right with respect to any other indebtedness or obligation of any Borrower.

Appears in 1 contract

Samples: Loan Agreement (HCC Insurance Holdings Inc/De/)

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