Common use of Limited Subrogation Clause in Contracts

Limited Subrogation. Notwithstanding any payment or payments made by any Borrower hereunder or any setoff or application of funds of any Borrower by the Lender, until 731 days after the Debt and other obligations hereunder and under the other Loan Documents have been irrevocably paid in full, such Borrower shall not be entitled to be subrogated to any of the rights of the Lender against the other Borrowers or any Guarantor or any Collateral or Guarantee or right of offset held by the Lender for the payment of the Debt and other obligations hereunder and under the other Loan Documents, nor shall such Borrower seek or be entitled to seek any contribution or reimbursement from the other Borrowers or any Guarantor in respect of payments made by such Borrower hereunder. If any amount shall be paid to a Borrower on account of such subrogation rights at any time when all of the Debt and other obligations hereunder and under the other Loan Documents shall not have been irrevocably paid in full, such amount shall be held by such Borrower in trust for the Lender, segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Lender in the exact form received by such Borrower (duly indorsed by such Borrower to the Lender, if required), to be applied against the Debt and other obligations hereunder and under the other Loan Documents, whether matured or unmatured, in such order as the Lender may determine.

Limited Subrogation. Notwithstanding any payment or payments made by any Domestic Borrower hereunder or any setoff or application of funds of any Domestic Borrower by the Administrative Agent or any Lender, until 731 days after the Debt and other obligations hereunder and under the other Loan Documents Obligations have been irrevocably paid Paid in fullFull, such Domestic Borrower shall not be entitled to be subrogated to any of the rights of the Administrative Agent or any Lender against the other Domestic Borrowers or any Guarantor or any Collateral or Guarantee Guaranty or right of offset held by the Administrative Agent or any Lender for the payment of the Debt and other obligations hereunder and under the other Loan DocumentsObligations, nor shall such Domestic Borrower seek or be entitled to seek any contribution or reimbursement from the other Domestic Borrowers or any Guarantor in respect of payments made by such Domestic Borrower hereunder. If any amount shall be paid to a Domestic Borrower on account of such subrogation rights at any time when all of the Debt and other obligations hereunder and under the other Loan Documents Obligations shall not have been irrevocably paid Paid in fullFull, such amount shall be held by such Domestic Borrower in trust for the LenderAdministrative Agent and the Lenders, segregated from other funds of such Domestic Borrower and shall, forthwith upon receipt by such Domestic Borrower, be turned over to the Lender Administrative Agent in the exact form received by such Domestic Borrower (duly indorsed by such Domestic Borrower to the LenderAdministrative Agent, if required), to be applied against the Debt and other obligations hereunder and under the other Loan DocumentsObligations, whether matured or unmatured, in such order as the Lender Administrative Agent and the Lenders may determine.

Limited Subrogation. Notwithstanding any payment or payments made by any Borrower hereunder or any setoff or application of funds of any Borrower by the Administrative Agent or any Lender, until 731 days after the Debt and other obligations hereunder and under the other Loan Documents Obligations have been irrevocably paid in full, such Borrower shall not be entitled to be subrogated to any of the rights of the Administrative Agent or any Lender against the other Borrowers or any Guarantor or any Collateral or Guarantee Guaranty or right of offset held by the Administrative Agent or any Lender for the payment of the Debt and other obligations hereunder and under the other Loan DocumentsObligations, nor shall such Borrower seek or be entitled to seek any contribution or reimbursement from the other Borrowers or any Guarantor in respect of payments made by such Borrower hereunder. If any amount shall be paid to a Borrower on account of such subrogation rights at any time when all of the Debt and other obligations hereunder and under the other Loan Documents Obligations shall not have been irrevocably paid in full, such amount shall be held by such Borrower in trust for the LenderAdministrative Agent and the Lenders, segregated from other funds of such Borrower and shall, forthwith upon receipt by such Borrower, be turned over to the Lender Administrative Agent in the exact form received by such Borrower (duly indorsed by such Borrower to the LenderAdministrative Agent, if required), to be applied against the Debt and other obligations hereunder and under the other Loan DocumentsObligations, whether matured or unmatured, in such order as the Lender Administrative Agent and the Lenders may determine.