Subordination of Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and liabilities of any Obligor to Guarantor, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations of such Obligor 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 all rights and claims of Guarantor against any Obligor (arising as a result of subrogation or otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Obligations. If an Event of Default exists, Guarantor shall not receive or collect, directly or indirectly, from any Obligor or any other party any amount upon the Guarantor Claims unless and until the Guaranteed Obligations (other than Contingent Indemnification Obligations) shall be paid and satisfied in full and Guarantor shall have performed all of its obligations hereunder.
Subordination of Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and obligations owing to the Guarantor by the MLP, the Borrower or any other Loan Party, whether such debts and obligations now exist or are hereafter incurred or arise, or whether the obligation of the debtor thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or obligations be evidenced by note, contract, open account, or otherwise, and irrespective of the Person or Persons in whose favor such debts or obligations 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. After the occurrence and during the continuation of an Event of Default, the Guarantor shall not receive or collect, directly or indirectly, from any obligor in respect thereof any amount upon the Guarantor Claims.
Subordination of Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and liabilities of Canam or MOCL, as applicable to the Company, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations of Canam or MOCL, as applicable 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 the Company. Guarantor Claims shall include, without limitation, all rights and claims of the Company against Canam or MOCL, as applicable (arising as a result of subrogation or otherwise) as a result of the Company’s payment of all or a portion of the Guaranteed Debt. Until the Guaranteed Debt shall be paid and satisfied in full and the Company shall have performed all of its obligations hereunder, upon the occurrence and continuance of an Event of Default, the Company shall not receive or collect, directly or indirectly, from Canam, MOCL or any other party any amount upon Guarantor Claims. In the event that, notwithstanding the terms of this Guaranty Agreement, the Company should receive any funds, payment, claim, or distribution which is prohibited by this Guaranty Agreement, the Company agrees to hold in trust for the Administrative Agent, the Issuing Banks and the Lenders, in kind, all funds, payments, claims, or distributions so received, except to pay them promptly to the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Banks and Lenders, and the Company covenants promptly to pay the same to the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Banks and Lenders.
Subordination of 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 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. After the occurrence of and during the continuance of 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 until payment in full of the Debt.
Subordination of Guarantor Claims. Any indebtedness of Borrowers to Guarantor now or hereafter existing (including, without limitation, any right of such Guarantor to a return of any capital contributed to Borrowers), including, but not limited to, any rights to subrogation Guarantor may have as a result of any payment by Guarantor under this Guaranty, together with any interest thereon, shall be, and such indebtedness is, hereby deferred, postponed and subordinated to the prior payment in full of the Obligations. Until payment in full of the Obligations (including interest accruing on the Promissory Note after the commencement of a proceeding by or against Borrowers under the Bankruptcy Code and the regulations adopted and promulgated pursuant thereto, which interest the parties agree shall remain a claim that is prior and superior to any claim of Guarantor notwithstanding any contrary practice, custom or ruling in cases under the Bankruptcy Code generally), Guarantor agrees not to accept any payment or satisfaction of any kind of indebtedness of Borrowers to Guarantor and hereby assigns such indebtedness to Agent, on behalf of Agent and Lender, including the right to file proof of claim and to vote thereon in connection with any such proceeding under the Bankruptcy Code, including the right to vote on any plan of reorganization. Nothing contained herein shall prohibit Borrowers from making monthly permitted distributions to their members in accordance with the Credit Agreement.
Subordination of 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,
Subordination of Guarantor Claims. Guarantor hereby subordinates to the lien and security interests created under the Loan Documents (including Lxxxxx’s right to payment of the Debt and Guaranteed Obligations) all claims and rights of payment, now existing or hereafter arising, that Guarantor may have against Borrower. Guarantor hereby acknowledges and agrees that it shall not be entitled to enforce any such rights or claims or receive any payment therefor until the Debt and all Guaranteed Obligations shall be indefeasibly paid in full to Lender.
Subordination of Guarantor Claims. Until the Guaranteed Debt shall be paid and satisfied in full and Guarantor shall have performed all of its obligations hereunder, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims.
Subordination of Guarantor Claims. The Guarantor agrees that all rights and claims of the Guarantor against the Borrower as a result of the Guarantor’s payment of all or a portion of the Guaranteed Obligations shall at all times be fully subject to and subordinate to the lien in favor of the Lender securing the Note and lien in favor of the Trustee securing the Series 2020 Bonds, and that the Guarantor shall not be entitled to enforce or receive payment from the Borrower for any debt, liability or other obligation of the Borrower to the Guarantor until the entire Guaranteed Obligations shall be indefeasibly paid in full.
