Common use of Subordination of All Guarantor Claims Clause in Contracts

Subordination of All Guarantor Claims. Upon the occurrence of an Event of Default or the occurrence of an event which would, with the giving of notice or the passage of time, or both, constitute an Event of Default, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and liabilities of Borrower to Guarantor, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations of Borrower thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or otherwise, and irrespective of the person or persons in whose favor such debts or liabilities may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without limitation all rights and claims of Guarantor against Borrower (arising as a result of subrogation or otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Obligations to the extent the provisions of Section 1.10 hereof are unenforceable.

Subordination of All Guarantor Claims. Upon the occurrence of an Event of Default or the occurrence of an event which would, with the giving of notice or the passage of time, or both, constitute an Event of Default, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims. As used herein, the term “"Guarantor Claims” " shall mean all debts and liabilities of Borrower to Guarantor, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations obligation of Borrower thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or otherwise, and irrespective of the person or persons in whose favor such debts or liabilities may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without limitation all rights and claims of Guarantor against Borrower (arising as a result of subrogation or otherwise) otherwise as a result of Guarantor’s 's payment of all or a portion of the Guaranteed Obligations Liabilities. If any Default exists and is continuing, and if the Trustee gives notice thereof to the extent Guarantor requiring the provisions of Section 1.10 hereof are unenforceableGuarantor Claims not be paid, then, for so long as any Default continues to exist, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims.

Subordination of All Guarantor Claims. Upon the occurrence of an Event of Default or the occurrence of an event which would, with the giving of notice or the passage of time, or both, constitute an Event of Default, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and liabilities obligations of the Borrower or any other Grantor to Guarantorany Grantor, whether such debts and liabilities obligations now exist or are hereafter incurred or arise, or whether the obligations obligation of Borrower the debtor thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or liabilities obligations be evidenced by note, contract, open account, or otherwise, and irrespective of the person Person or persons Persons in whose favor such debts or liabilities obligations may, at their inception, have been, been or may hereafter be created, or the manner in which they have been or may hereafter be acquired by Guarantoracquired. The Guarantor Claims shall include without limitation all rights After the occurrence and claims during the continuation of Guarantor against Borrower an Event of Default (arising as a result of subrogation or otherwise) as a result of Guarantor’s until payment of all or a portion in full of the Guaranteed Secured Obligations other than contingent obligations as to which no claim exists or has been asserted, Hedging Obligations owed by any Loan Party to any Lender-Related Hedge Provider, and Bank Product Obligations), no Grantor shall receive or collect, directly or indirectly, from any obligor in respect thereof any amount upon the extent the provisions of Section 1.10 hereof are unenforceableGuarantor Claims.

Subordination of All Guarantor Claims. Upon the occurrence of an Event of Default or the occurrence of an event which would, with the giving of notice or the passage of time, or both, constitute an Event of Default, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims. As used herein, the term “"Guarantor Claims” " shall mean all debts and liabilities of Borrower to Guarantor, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations obligation of Borrower thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or otherwise, and irrespective of the person or persons in whose favor such debts or liabilities may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without limitation all rights and claims of Guarantor against Borrower (arising as a result of subrogation or otherwise) otherwise as a result of Guarantor’s 's payment of all or a portion of the Guaranteed Obligations Liabilities. If any Default exists and is continuing, and if Agent gives notice thereof to the extent Guarantor requiring the provisions of Section 1.10 hereof are unenforceableGuarantor Claims not be paid, then, for so long as any Default continues to exist, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims.