Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 7), the Borrower agrees that (a) in the event a payment shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Guarantor shall be sold to satisfy a claim of any Guaranteed Party under this Agreement, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.
Appears in 3 contracts
Samples: Pledge Agreement (Strayer Education Inc), Revolving Credit Agreement (Strayer Education Inc), Subsidiary Guaranty Agreement (JTH Holding, Inc.)
Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors Guarantor may have under applicable law (but subject to Section 74 hereof), the Borrower Company agrees that (ai) in the event a payment shall be made on behalf of the Company by any the Guarantor under this Agreementhereunder, the Borrower Company shall indemnify such the Guarantor for the full amount of such payment and such the Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment payment, and (bii) in the event any assets of any the Guarantor shall be sold to satisfy a claim of any Guaranteed Party under this Agreementhereunder, the Borrower Company shall indemnify such the Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Noble Corp / Switzerland), Guaranty Agreement (Noble Corp / Switzerland), Revolving Credit Agreement (Noble Corp)
Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 71.07 above), the Borrower Company agrees that (ai) in the event if a payment shall be made by any Guarantor under this Agreement, the Borrower Company shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (bii) in the event if any assets of any Guarantor shall be sold pursuant to any Collateral Document to satisfy a claim of any Guaranteed Party under this AgreementSecured Party, the Borrower Company shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.
Appears in 2 contracts
Samples: Credit Agreement (Be Aerospace Inc), Security Agreement (Be Aerospace Inc)
Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors Guarantor may have under applicable law (but subject to Section 74 hereof), the Borrower Company agrees that (ai) in the event a payment shall be made on behalf of the Company by any the Guarantor under this Agreementhereunder, the Borrower Company shall indemnify such the Guarantor for the full amount of such payment and such the Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment payment, and (bii) in the event any assets of any the Guarantor shall be sold to satisfy a claim of any Guaranteed Party under this Agreementhereunder, the Borrower Company shall indemnify such the Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.. [Noble Drilling Corporation Guaranty]
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Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 76), the Borrower agrees that (a) in the event a payment shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Guarantor shall be sold to satisfy a claim of any Guaranteed Party under this Agreement, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.
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Samples: Subsidiary Guaranty Agreement (Walter Investment Management Corp)
Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law Law (but subject to Section 71.06), the Borrower agrees that (ai) in the event a payment shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (bii) in the event any assets of any Guarantor shall be sold pursuant to any Collateral Document to satisfy a claim of any Guaranteed Party under this AgreementFinance Party, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.
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