Common use of No Subrogation, Contribution, Reimbursement or Indemnity Clause in Contracts

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section 509 thereof, under common law or otherwise) of the Administrative Agent or any Lender against the Company or against the Administrative Agent or any Lender for the payment of the Obligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Landstar System Inc), Credit Agreement (Landstar System Inc), Credit Agreement (Landstar System Inc)

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No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this GuaranteeSection 10 and this Agreement, the Guarantor Company and the Borrowers hereby irrevocably waives waive all rights which may have arisen in connection with the guarantees made pursuant to this Guarantee Section 10 to be subrogated to any of the rights (whether contractual, under the United States Bankruptcy Code, as amended, including Section 509 thereof, under common law or otherwise) of the Administrative Agent or any Lender of the Lenders against the Company or the Borrowers or against any collateral security or guaranty or right of offset held by the Administrative Agent or any Lender for the payment of the ObligationsObligations until such time as all Obligations have been fully and indefinitely paid in full. The Guarantor Company and the Borrowers hereby further irrevocably waives waive all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Company or any other Person the Borrowers which may have arisen in connection with the guarantees made pursuant to this GuaranteeSection 10 until such time as all Obligations have been fully and indefeasibly paid in full. So long as the any Obligations remain outstandingremain, if any amount shall be paid by or on behalf of the Borrower, Company or any Subsidiary Guarantor, Borrower to the Guarantor any of them on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor such Person in trust, segregated from other funds of the Guarantorsuch Person, and shall, forthwith upon receipt by such Guarantorreceipt, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor such Person to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee Agreement and the payment in full of the Obligations and the termination of the Revolving Credit CommitmentsObligations.

Appears in 2 contracts

Samples: Term Credit Agreement (Schawk Inc), Multicurrency Credit Agreement (Schawk Inc)

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section section 509 thereof, under common law or otherwise) of the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant against the Company or against the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant for the payment of the Obligationsobligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Guarantor or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, Guarantor to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full xxxx of the Obligations obligations and the termination of the Revolving Credit Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Landstar System Inc), Credit Agreement (Landstar System Inc)

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section 509 thereof, under common law or otherwise) of the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant against the Company or against the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant for the payment of the Obligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Guarantor or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, Guarantor to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Landstar System Inc)

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section 509 thereof, under common law or otherwise) of the Administrative Agent or any Lender against the Company or against the Administrative Agent or any Lender for the payment of the Obligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Borrower or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, Borrower to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Landstar System Inc)

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No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section 509 thereof, under common law or otherwise) of the Administrative Agent or any Lender against the Company or against the Administrative Agent or any Lender for the payment of the Obligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Borrower or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, Borrower to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Landstar System Inc)

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section section 509 thereof, under common law or otherwise) of the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant against the Company or against the Administrative Agent Agent, the Issuing Lender or any Lender L/C Participant for the payment of the Obligationsobligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory or other rights of 118 reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Guarantor or any other Person which may have arisen in connection with this Guarantee. So long as the Obligations obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, Guarantor to the Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the Guarantor in trust, segregated from other funds of the such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required), to be applied against the obligationsObligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full xxxx of the Obligations obligations and the termination of the Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Landstar System Inc)

No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this Guarantee, the Revolving Credit Agreement and the other Loan Documents, each Guarantor hereby irrevocably waives waives, until the Termination Date, all rights which may have arisen in connection with this Guarantee Guarantee, the Revolving Credit Agreement and the other Loan Documents to be subrogated to any of the rights (whether contractual, under the Bankruptcy Code, including Section 509 thereof, under common law or otherwise) of the Administrative Agent or any Lender Beneficiary against the Company Borrowers or against the Administrative Agent any collateral security or guarantee or right of offset held by any Lender Beneficiary for the payment of the Guaranteed Obligations. The Each Guarantor hereby further irrevocably waives waives, until the Termination Date, all contractual, contractual common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar right) from or against the Borrower, any Subsidiary Guarantor, Borrowers or any other Person which may have arisen in connection with this Guarantee, the Revolving Credit Agreement and the other Loan Documents. So long as the Guaranteed Obligations remain outstanding, if any amount shall be paid by or on behalf of the Borrower, Borrowers or any Subsidiary Guarantor, Guarantor to the any other Guarantor on account of any of the rights waived in this paragraph, such amount shall be held by the such Guarantor in trust, segregated from other funds of the such Guarantor, and shall, shall forthwith upon receipt by such Guarantor, be turned over to the Administrative Agent in the exact form received by the such Guarantor (duly indorsed by the such Guarantor to the Administrative Collateral Agent, if required), to be applied against the obligationsGuaranteed Obligations, whether matured or unmatured, in such order as the Administrative Collateral Agent may determine. The provisions of this paragraph shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit CommitmentsGuarantee.

Appears in 1 contract

Samples: Security Agreement (Texas Petrochemicals Inc.)

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