Common use of Subordination of Other Obligations Clause in Contracts

Subordination of Other Obligations. Any indebtedness of Borrower now or hereafter held by Guarantor is hereby subordinated in right of payment to the Loans and to the payment, performance and completion of the Guaranteed Obligations, and any such indebtedness of Borrower to Guarantor collected or received by Guarantor after an Event of Default (including any Event of Default under any of the Loan Documents) has occurred and is continuing shall be held in trust for the Administrative Agent (on behalf of the Lenders) and shall forthwith be paid over to the Administrative Agent (on behalf of the Lenders) to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of Guarantor under any other provision of this Guaranty.

Subordination of Other Obligations. Any indebtedness Indebtedness of Borrower Borrowers or any Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Loans and to the payment, performance and completion of the Guaranteed Obligations, and any such indebtedness of Borrower to Guarantor Indebtedness collected or received by the Obligee Guarantor after receipt of notice of an Event of Default (including any Event of Default under any of the Loan Documents) which has occurred and is continuing continuing) by Administrative Agent shall be held in trust for the Administrative Agent (on behalf of the Lenders) Beneficiaries and shall forthwith forthwith, upon demand of the Administrative Agent, be paid over to the Administrative Agent (on behalf for the benefit of the Lenders) Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision of this Guarantyhereof.

Subordination of Other Obligations. Any indebtedness of the Borrower now or hereafter held by Guarantor is hereby subordinated in right of payment to the Loans and to the payment, performance and completion of the Guaranteed Obligations, and any such indebtedness of the Borrower to Guarantor collected or received by Guarantor after an Event of Default (including any Event of Default under any of the Loan Documents) has occurred and is continuing shall be held in trust for the Administrative Agent (on behalf of the Lenders) and shall forthwith be paid over to the Administrative Agent (on behalf of the Lenders) to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of Guarantor under any other provision of this GuarantyGuarantee.

Subordination of Other Obligations. Any indebtedness of the Borrower or Operating Lessee now or hereafter held by Guarantor is hereby subordinated in right of payment to the Loans Loan and to the payment, performance and completion of the Guaranteed Obligations, and any such indebtedness of Borrower the Borrower, Operating Lessee to Guarantor collected or received by Guarantor after an Event of Default (including any Event of Default under any of the Loan Documents) has occurred and is continuing shall be held in trust for the Administrative Agent (on behalf of the Lenders) and shall forthwith be paid over to the Administrative Agent (on behalf of the Lenders) to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of Guarantor under any other provision of this GuarantyGuarantee.

Subordination of Other Obligations. Any indebtedness Indebtedness of the Borrower or any Guarantor now or hereafter held by any Guarantor is hereby subordinated in right of payment to the Loans Guaranteed Obligations (it being understood that any payment in respect thereof shall be permitted unless an Event of Default has occurred and to the payment, performance and completion of the Guaranteed Obligationsis continuing), and any such indebtedness of Borrower to Guarantor collected or received by such Guarantor after an Event of Default (including any Event of Default under any of the Loan Documents) has occurred and is continuing shall be held in trust for the Administrative Agent (on behalf of the Lenders) Secured Parties and shall forthwith be paid over to the Administrative Agent (on behalf for the benefit of the Lenders) Secured Parties to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of such Guarantor under any other provision of this Guarantyhereof.