Common use of Deferral of Guarantors’ rights Clause in Contracts

Deferral of Guarantors’ rights. All rights which the Guarantor at any time has (whether in respect of this guarantee, a mortgage or any other transaction) against the Borrowers, any other Transaction Obligor or their respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Documents and until the end of the Security Period and unless the Facility Agent otherwise directs (acting on the instructions of the Majority Lenders), the Guarantor will not exercise any rights which it may have (whether in respect of any Finance Document to which it is a Party or any other transaction) by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 (Guarantee and Indemnity):

Deferral of Guarantors’ rights. All rights which the Guarantor at any time has (whether in respect of this guarantee, a mortgage or any other transaction) against the Borrowers, any other Transaction Obligor or their respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Documents and until the end of the Security Period and unless the Facility Agent otherwise directs (acting on the instructions of the Majority Lenders), the Guarantor will not exercise any rights which it may have (whether in respect of any Finance Document to which it is a Party or any other transaction) by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 16 (Guarantee and Indemnity):

Deferral of Guarantors’ rights. All rights which the a Guarantor at any time has (whether in respect of this guarantee, a mortgage or any other transaction) against the Borrowers, Company or any other Transaction Obligor Debtor or their respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Debt Documents and until the end of the Security Period and unless the Facility Security Agent otherwise directs (acting on the instructions of the Majority Lenders)directs, the no Guarantor will not exercise any rights which it may have (whether in respect of any Finance Debt Document to which it is a Party or any other transaction) by reason of performance by it of its obligations under the Finance Debt Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 (Guarantee and Indemnity):Guarantee:

Deferral of Guarantors’ rights. All rights which the Guarantor Guarantors at any time has have (whether in respect of this guarantee, a mortgage or any other transaction) against the Borrowersany Borrower, any other Transaction Obligor or their respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Documents and until the end of the Security Period and unless the Facility Agent otherwise directs (acting on the instructions of the Majority Lenders), the Guarantor Guarantors will not exercise any rights which it they may have (whether in respect of any Finance Document to which it is they are a Party or any other transaction) by reason of performance by it the Guarantors of its their obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 16 (Guarantee and Indemnity):

Deferral of Guarantors’ rights. All rights which the any Guarantor at any time has have (whether in respect of this guarantee, a mortgage or any other transaction) against the Borrowersany Borrower, any other Transaction Obligor or their its respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Documents and until the end of the Security Period and unless the Facility Agent otherwise directs (acting on the instructions of the Majority Lenders), the no Guarantor will not exercise any rights which it they may have (whether in respect of any Finance Document to which it is they are a Party or any other transaction) by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 16 (Guarantee and Indemnity):

Deferral of Guarantors’ rights. All rights which the Guarantor at any time has (whether in respect of this guarantee, a mortgage or any other transaction) against the BorrowersBorrower, any other Transaction Obligor or their respective assets shall be fully subordinated to the rights of the Secured Parties under the Finance Documents and until the end of the Security Period and unless the Facility Agent otherwise directs (acting on the instructions of the Majority Lenders), the Guarantor will not exercise any rights which it may have (whether in respect of any Finance Document to which it is a Party or any other transaction) by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause ‎16 16 (Guarantee and Indemnity):