No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guaranteed Obligation hereunder, the Guarantor shall be subrogated to the rights of Mallinckrodt against Neuromed with respect to such payment; provided that the Guarantor shall not enforce any payment right by way of subrogation until all Guaranteed Obligations have been paid in full.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Combinatorx, Inc), Asset Purchase Agreement (Combinatorx, Inc)
No Enforcement of Subrogation. Upon making any payment or performance with respect to any Guaranteed Obligation hereunder, the Guarantor shall be subrogated to the rights of Neuromed against Mallinckrodt against Neuromed with respect to such payment; provided that the Guarantor shall not enforce any payment right by way of subrogation until all Guaranteed Obligations have been paid in full.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Combinatorx, Inc), Asset Purchase Agreement (Combinatorx, Inc)
