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)
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 3 contracts
Samples: Credit Agreement (Landstar System Inc), Credit Agreement (Landstar System Inc), Credit Agreement (Landstar System Inc)
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: Multicurrency Credit Agreement (Schawk Inc), Credit Agreement (Schawk 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: Revolving Credit Agreement (Texas Petrochemicals Inc.)
No Subrogation, Contribution, Reimbursement or Indemnity. Notwithstanding anything to the contrary in this GuaranteeSection 2.14, the Guarantor hereby irrevocably waives all rights which may have arisen in connection with this Guarantee Company shall not be entitled 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 any Borrowing Subsidiary or against the Administrative Agent any other guarantor or any collateral security or guarantee or right of offset held by any Lender for the payment of the Guaranteed Obligations. The Guarantor hereby further irrevocably waives all contractual, common law, statutory nor shall the Company seek or other rights of reimbursement, contribution, exoneration be entitled to seek any contribution or indemnity (or reimbursement from any similar right) from or against the Borrower, any Borrowing Subsidiary Guarantor, or any other Person which may have arisen guarantor in connection with this Guaranteerespect of payments made by the Company hereunder, until all amounts owing to the Administrative Agent and the Lenders by the Borrowing Subsidiaries on account of the outstanding Guaranteed Obligations are paid in full. So long as the Obligations remain outstanding, if If any amount shall be paid by or on behalf of the Borrower, or any Subsidiary Guarantor, to the Guarantor Company on account of such subrogation rights at any time when all of the rights waived Guaranteed Obligations shall not have been paid in this paragraphfull, such amount shall be held by the Guarantor Company in trusttrust for the Administrative Agent and the Lenders, segregated from other funds of the GuarantorCompany, and shall, forthwith upon receipt by such Guarantorthe Company, be turned over to the Administrative Agent in the exact form received by the Guarantor Company (duly indorsed endorsed by the Guarantor Company to the Administrative Agent, if required), to be applied against the obligationsGuaranteed Obligations, whether matured or unmatured, in such order as the Administrative Agent and the Required Lenders may determine. The provisions of this paragraph subsection shall survive the term of this Guarantee and the payment in full of the Obligations and the termination of the Revolving Credit Commitmentsguarantee contained in this Section 2.14.
Appears in 1 contract
Samples: Credit Agreement (Alberto Culver Co)
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