Common use of Deferral of Subrogation Clause in Contracts

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors shall not exercise any right to enforce any right, power or remedy which the Administrative Agent or any Lender now has or may in the future have against Borrowers or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers or any Other Guarantor now or in the future held by the Administrative Agent or any Lender. If Guarantors nevertheless receive payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine.

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors Guarantor shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors Guarantor shall not exercise any right to enforce any right, power or remedy which the Administrative Agent or any Lender Secured Party now has or may in the future have against Borrowers Borrower or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers Borrower or any Other Guarantor now or in the future held by the Administrative Agent or any LenderSecured Party. If Guarantors Guarantor nevertheless receive receives payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors Guarantor of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine. For the avoidance of doubt, neither this Section 7 nor any other provision of this Guaranty shall prohibit Guarantor from receiving (and retaining for its own account) any distributions made by Borrower in accordance with Section 8.10 of the Credit Agreement that are not made on account of the exercise by Guarantor of any rights of subrogation, contribution or reimbursement.

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors Guarantor shall not exercise any right to enforce any right, power or remedy which the Administrative Agent or any Lender now has or may in the future have against Borrowers or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers or any Other Guarantor now or in the future held by the Administrative Agent or any Lender. If Guarantors Guarantor nevertheless receive receives payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors Guarantor of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine.

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors Guarantor shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors Guarantor shall not exercise any right to enforce any right, power or remedy which the Administrative Agent any Agent, Swing Line Lender, Issuing Lender or any Lender now has or may in the future have against Borrowers Borrower or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers Borrower or any Other Guarantor now or in the future held by the Administrative Agent any Agent, Swing Line Lender, Issuing Lender or any Lender. If Guarantors Guarantor nevertheless receive receives payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors Guarantor of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine. For the avoidance of doubt, neither this Section 7 nor any other provision of this Guaranty shall prohibit Guarantor from receiving (and retaining for its own account) any distributions made by Borrower in accordance with Section 8.10 of the Credit Agreement that are not made on account of the exercise by Guarantor of any rights of subrogation, contribution or reimbursement.

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors Guarantor shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors Guarantor shall not exercise any right to enforce any right, power or remedy which the Administrative Agent or any Lender now has or may in the future have against Borrowers or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers or any Other Guarantor now or in the future held by the Administrative Agent or any Lender. If Guarantors Guarantor nevertheless receive receives payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors Guarantor of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine.

Deferral of Subrogation. Until all of the Guaranteed Obligations have been paid and performed in full, (i) Guarantors Guarantor shall not exercise any rights of subrogation, contribution or reimbursement against any Borrower or any Other Guarantor of the Guaranteed Obligations, and (ii) Guarantors Guarantor shall not exercise any right to enforce any right, power or remedy which the Administrative Agent any Agent, Swing Line Lender, Issuing Lender or any Lender now has or may in the future have against Borrowers Borrower or any Other Guarantor and any benefit of, and any right to participate in, any security for this Guaranty or for the obligations of Borrowers Borrower or any Other Guarantor now or in the future held by the Administrative Agent any Agent, Swing Line Lender, Issuing Lender or any Lender. If Guarantors a Guarantor nevertheless receive receives payment of any amount on account of any such subrogation, contribution or reimbursement rights or otherwise in respect of any payment by Guarantors Guarantor of the Guaranteed Obligations prior to payment and performance in full of all of the Guaranteed Obligations, such amount shall be held in trust for the benefit of the Administrative Agent and immediately paid to the Administrative Agent for application to the Guaranteed Obligations in such order and manner as the Administrative Agent may determine.