Common use of Deferral of Rights Clause in Contracts

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Supplier under or in connection with the Guaranteed Agreement have been paid in full, the Guarantor agrees that, without the prior written consent of the Beneficiary, it will not: ● exercise any rights it may have to be indemnified by the Supplier ● claim any contribution from any other guarantor of the Supplier’s obligations under the Guaranteed Agreement ● take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary under the Guaranteed Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Guaranteed Agreement ● demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Supplier or ● claim any set-off or counterclaim against the Supplier

Deferral of Rights. 8.1 Until all amounts which may be or become payable by the Supplier Agency under or in connection with the Guaranteed Agreement have been paid in full, the Guarantor agrees that, without the prior written consent of the Beneficiary, it will not: ● exercise any rights it may have to be indemnified by the Supplier Agency ● claim any contribution from any other guarantor of the SupplierAgency’s obligations under the Guaranteed Agreement ● take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Beneficiary under the Guaranteed Agreement or of any other guarantee or security taken pursuant to, or in connection with, the Guaranteed Agreement ● demand or accept repayment in whole or in part of any indebtedness now or hereafter due from the Supplier Agency or ● claim any set-off or counterclaim against the SupplierAgency