No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guarantied Obligation hereunder, the Guarantor shall be subrogated to the rights of the Purchaser against the Contractor with respect to such payment or performance; provided that the Guarantor shall not enforce any payment or performance right by way of subrogation until all Guarantied Obligations been paid and performed in full.
Appears in 2 contracts
Samples: Consent and Agreement (Asia Global Crossing LTD), Escrow Agreement (Global Crossing Holdings LTD)
No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guarantied Guaranteed Obligation hereunder, the Guarantor shall be subrogated to the rights of the Purchaser Company against the Contractor Parent or Merger Sub solely with respect to such payment or performance; provided that the Guarantor shall not enforce any payment or performance right by way of subrogation until all Guarantied Guaranteed Obligations have been performed in full and all Guaranteed Obligations which constitute payment obligations have been indefeasibly paid (in cash) and performed in full.
Appears in 2 contracts
Samples: Guaranty (Mazor Robotics Ltd.), Guaranty (Given Imaging LTD)
No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guarantied Guaranteed Obligation hereunder, the Guarantor shall be subrogated to the rights of the Purchaser Company against the Contractor Parent or Merger Sub solely with respect to such payment or performance; performance; provided that the Guarantor shall not enforce any payment or performance right by way of subrogation until all Guarantied Guaranteed Obligations have been performed in full and all Guaranteed Obligations which constitute payment obligations have been indefeasibly paid (in cash) and performed in full.
Appears in 1 contract
Samples: Agreement and Plan of Merger
No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guarantied Obligation hereunder, the Guarantor shall be subrogated to the rights of the Purchaser Grantor against the Contractor Subsidiary with respect to such payment or performance; provided that the Guarantor shall not enforce any payment or performance right by way of subrogation until all Guarantied Obligations have been paid pain and performed in full.
Appears in 1 contract
