Common use of Recovering Finance Party’s rights Clause in Contracts

Recovering Finance Party’s rights. After payment of the full Redistribution, the Recovering Finance Party will be subrogated to the portion of the claims paid under clause 30.2 (Redistribution of payments) by each Finance Party (other than the Recovering Finance Party) assigning (abtreten) to the Recovering Finance Party that part of its own corresponding claim hereunder which is allocable to its portion of the Redistribution, and subsequently to such assignments being effected that Obligor will owe the Recovering Finance Party a debt which is equal to the Redistribution, immediately payable and of the type originally discharged.

Recovering Finance Party’s rights. After payment of the full Redistribution, the Recovering Finance Party will be subrogated to the portion of the claims paid under clause 30.2 Clause 29.2 (Redistribution of payments) by each Finance Party (other than the Recovering Finance Party) assigning (abtreten) to the Recovering Finance Party that part of its own corresponding claim hereunder which is allocable to its portion of the Redistribution, and subsequently to such assignments being effected that Obligor the Borrower will owe the Recovering Finance Party a debt which is equal to the Redistribution, immediately payable and of the type originally discharged.