Common use of Deferral of Junior Creditor’s rights Clause in Contracts

Deferral of Junior Creditor’s rights. Until the Senior Debt is Discharged and unless the Security Trustee otherwise directs, the Junior Creditor will not exercise any rights which it may have by reason of performance by it of its obligations under this Agreement: (a) to be indemnified by any other Obligor; (b) to claim any contribution from any guarantor of any Obligor’s obligations under the Senior Finance Documents; and/or (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Secured Parties under the Senior Finance Documents or of any other guarantee or Security taken pursuant to, or in connection with, the Senior Finance Documents by any Secured Party.

Deferral of Junior Creditor’s rights. Until the Senior Debt is Discharged and unless the Security Trustee otherwise directs, the Junior Creditor will not exercise any rights which it may have by reason of performance by it of its obligations under this Agreement: (a) to be indemnified by any other Obligor; (b) to claim any contribution from any guarantor of any Obligor’s 's obligations under the Senior Finance Documents; and/or (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Secured Parties under the Senior Finance Documents or of any other guarantee or Security taken pursuant to, or in connection with, the Senior Finance Documents by any Secured Party.

Deferral of Junior Creditor’s rights. Until the Senior Debt is Discharged and unless the Security Trustee Senior Creditor otherwise directs, the Junior Creditor will not exercise any rights which it may have by reason of performance by it of its obligations under this AgreementAgreement or the Finance Documents: (a) to be indemnified by any other Obligorthe Borrower; (b) to claim any contribution from any guarantor of any Obligorthe Borrower’s obligations under the Senior Finance Documents; and/or (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Secured Parties Senior Creditor under the Senior Finance Documents or of any other guarantee or Security security taken pursuant to, or in connection with, the Senior Finance Documents by any Secured Partythe Senior Creditor.

Deferral of Junior Creditor’s rights. Until the Senior Debt is Discharged and unless the Security Trustee otherwise directs, the Junior Creditor will not exercise any rights which it may have by reason of performance by it of its obligations under this Agreement: (a) to be indemnified by any other Obligor; (b) to claim any contribution from any guarantor of any Obligor’s 's obligations under the 11869923-6 Senior Finance Documents; and/or (c) to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Secured Parties under the Senior Finance Documents or of any other guarantee or Security taken pursuant to, or in connection with, the Senior Finance Documents by any Secured Party.