Common use of Restriction on Subrogation Clause in Contracts

Restriction on Subrogation. The Subordinated Creditor shall not exercise any rights which it may acquire by way of subrogation or contribution under this Agreement, as a result of any payment made hereunder or otherwise until this Agreement has ceased to be effective in accordance with Section 7.1(a). If any amount is paid to the Subordinated Creditor on account of such subrogation or contribution rights at any time before this Agreement has ceased to be effective in accordance with Section 7.1(a), such amount shall be held in trust by the Subordinated Creditor for the benefit of the Senior Creditors and shall be forthwith paid to the Agent for the benefit of the Senior Creditors.

Restriction on Subrogation. The Subordinated Creditor shall not exercise any rights which it may acquire by way of subrogation or contribution under this Agreement, Agreement as a result of any payment made hereunder or otherwise until this Agreement has ceased to be effective in accordance with Section 7.1(a14(a). If any amount is paid to the Subordinated Creditor on account of such subrogation or contribution rights at any time before this Agreement has ceased to be effective in accordance with Section 7.1(a14(a), such amount shall be held in trust by the Subordinated Creditor for the benefit of the Agent and the Senior Creditors and shall be forthwith paid to the Agent for the benefit of the Senior CreditorsAgent.

Restriction on Subrogation. The Subordinated Creditor shall not exercise any rights which it may acquire by way of subrogation or contribution under this Agreement, Agreement as a result of any payment made hereunder or otherwise until this Agreement has ceased to be effective in accordance with Section 7.1(a14(a). If any amount is paid to the Subordinated Creditor on account of such subrogation or contribution rights at any time before this Agreement has ceased to be effective in accordance with Section 7.1(a14(a), such amount shall be held in trust by the Subordinated Creditor for the benefit of the Senior Creditors Creditor and shall be forthwith paid to the Agent for the benefit of the Senior CreditorsCreditor.

Restriction on Subrogation. The Subordinated Creditor shall not exercise any rights which it may acquire by way of subrogation or contribution under this Agreement, as a result of any payment made hereunder or otherwise until this Agreement has ceased to be effective in accordance with Section 7.1(a). If any amount is paid to the Subordinated Creditor on account of such subrogation or contribution rights at any time before this Agreement has ceased to be effective in accordance with Section 7.1(a), such amount shall be held in trust by the Subordinated Creditor for the benefit of the Senior Creditors Creditor and shall be forthwith paid to the Agent for the benefit of the Senior CreditorsCreditor.