Common use of Sharing of Recoveries Clause in Contracts

Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise, on any amount payable or recoverable hereunder in a greater proportion than should have been received hereunder or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Adverse Claim created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 719921903 05109795 48

Appears in 1 contract

Samples: Receivables Purchase Agreement (Peabody Energy Corp)

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Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise, on any amount payable or recoverable hereunder in a greater proportion than should 729565239 15494375 49 have been received hereunder or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Adverse Claim created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 719921903 05109795 48.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Arch Coal Inc)

Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise, on any amount payable or recoverable hereunder in a proportion greater proportion than should have been received hereunder that which its share of the aggregate Commitments would entitle it to or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital Investment or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Adverse Claim created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 719921903 05109795 48.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Louisville Gas & Electric Co /Ky/)

Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise, on any amount payable or recoverable hereunder in a greater proportion than should have been received hereunder or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital such Purchaser Group’s Purchaser Group Investment or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Adverse Claim lien created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount 755931971 16509877 is thereafter recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 719921903 05109795 48.

Appears in 1 contract

Samples: Receivables Purchase Agreement (CHS Inc)

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Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or otherwise, on any amount payable or recoverable hereunder in a greater proportion than should have been received hereunder or otherwise inconsistent with the provisions hereof (including, without limitation, Section 1.8(a) hereof), then the recipient of such recovery shall purchase for cash an interest in amounts owing to the other Purchasers (as return of Capital or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Adverse Claim created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter recovered from the recipient, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 719921903 05109795 4844

Appears in 1 contract

Samples: Receivables Purchase Agreement (Peabody Energy Corp)

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