Common use of Right of Subrogation and Contribution Clause in Contracts

Right of Subrogation and Contribution. If Guarantor makes a --------------------------------------- payment in respect of the Liabilities, it shall be subrogated to the rights of the Lenders against the Borrower with respect to such payment and shall have the rights of contribution against the other Subsidiary Guarantors set forth in Section 2.9 of any other Guaranty Agreements; provided that Guarantor shall not enforce its rights to any payment by way of subrogation or by exercising its rights of contribution or reimbursement or the right to participate in any security now or hereafter held by or for the benefit of the Lenders until all of the Liabilities have been paid in full. The Guarantor agrees that after all the Liabilities have been paid in full if its then current Net Payments are less than the amount of its then current Contribution Obligation, Guarantor shall pay to any other Subsidiary Guarantors an amount (together with any payments required of the other Subsidiary Guarantors by Section 2.9 of each other Guaranty Agreement) such that the Net Payments made by all Subsidiary Guarantors in respect of the Liabilities shall be shared among all of the Subsidiary Guarantors in a proportion equal to their respective Contribution Percentage; provided, however, Guarantor need not make any such payment if at the time such payment is to be made Guarantor is illiquid and not making such payment will not render any other Subsidiary Guarantor insolvent.

Right of Subrogation and Contribution. If Guarantor makes a --------------------------------------- ------------------------------------- payment in respect of the Liabilities, it shall be subrogated to the rights of the Lenders against the Borrower with respect to such payment and shall have the rights of contribution against the other Subsidiary Guarantors set forth in Section 2.9 of any other Guaranty Agreements; provided that Guarantor shall not enforce its rights to any payment by way of subrogation or by exercising its rights of contribution or reimbursement or the right to participate in any security now or hereafter held by or for the benefit of the Lenders until all of the Liabilities have been paid in full. The Guarantor agrees that after all the Liabilities have been paid in full if its then current Net Payments are less than the amount of its then current Contribution Obligation, Guarantor shall pay to any other Subsidiary Guarantors an amount (together with any payments required of the other Subsidiary Guarantors by Section 2.9 of each other Guaranty Agreement) such that the Net Payments made by all Subsidiary Guarantors in respect of the Liabilities shall be shared among all of the Subsidiary Guarantors in a proportion equal to their respective Contribution Percentage; provided, however, Guarantor need not make any such payment if at the time such -------- ------- payment is to be made Guarantor is illiquid and not making such payment will not render any other Subsidiary Guarantor insolvent.

Right of Subrogation and Contribution. If Guarantor makes a --------------------------------------- payment in respect of the Liabilities, it shall be subrogated to the rights of the Lenders against the Borrower with respect to such payment and shall have the rights of contribution against the other Subsidiary Guarantors set forth in Section 2.9 of any other Guaranty Agreements; provided that Guarantor shall not enforce its rights to any payment by way of subrogation or by exercising its rights of contribution or reimbursement or the right to participate in any security now or hereafter held by or for the benefit of the Lenders until all of the Liabilities have been paid in full. The Guarantor agrees that after all the Liabilities have been paid in full if its then current Net Payments are less than the amount of its then current Contribution Obligation, Guarantor shall pay to any other Subsidiary Guarantors an amount (together with any payments required of the other Subsidiary Guarantors by Section 2.9 of each other Guaranty Agreement) such that the Net Payments made by all Subsidiary Guarantors in respect of the Liabilities shall be shared among all of the Subsidiary Guarantors in a proportion equal to their respective Contribution Percentage; provided, however, Guarantor need not make any such payment if at the time such -------- ------- payment is to be made Guarantor is illiquid and not making such payment will not render any other Subsidiary Guarantor insolvent.