Common use of Subordination of Guarantor's Claims Clause in Contracts

Subordination of Guarantor's Claims. Any indebtedness of Lessee now or hereafter held by Guarantor is hereby subordinated to the Obligations; and such indebtedness of Lessee to Guarantor, if any material default occurs under any of the Obligations and Lessor so requests from and after the material default, shall be collected, enforced and received by Guarantor as trustee for Lessor and be paid over to Lessor on account of the Obligations but without reducing or affecting in any manner the absolute, unconditional and independent liability of Guarantor under this Guaranty.

Subordination of Guarantor's Claims. Any indebtedness of Lessee Borrower now or hereafter held by Guarantor is hereby subordinated to the Obligations; and such indebtedness of Lessee Borrower to Guarantor, if any material default occurs under any of the Obligations and Lessor Lender so requests from and after the material default, shall be collected, enforced and received by Guarantor as trustee for Lessor Lender and be paid over to Lessor Lender on account of the Obligations but without reducing or affecting in any manner the absolute, unconditional and independent liability of Guarantor under this Guaranty.

Subordination of Guarantor's Claims. Any indebtedness of Lessee Tenant now or hereafter held by Guarantor is hereby subordinated to the Obligations; and such indebtedness of Lessee Tenant to Guarantor, if any material default occurs under any of the Obligations obligations and Lessor Landlord so requests from and after the material defaultrequests, shall be collected, enforced and received by Guarantor as trustee for Lessor Landlord and be paid over to Lessor Landlord on account of the Obligations but without reducing or affecting in any manner the absolute, unconditional and independent liability of Guarantor under this Guaranty.