Common use of Subordination of Other Obligations Clause in Contracts

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuer, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuer, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany with respect to the Guarantied Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution with respect to the Guarantied Obligations that such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any such rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Guaranteed Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer either or both of the Guarantor Subsidiaries or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuereither or both of the Guarantor Subsidiaries, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Guaranteed Party now has or may hereafter have against Parent Issuereither or both of the Guarantor Subsidiaries, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Guaranteed Party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer either or both of the Guarantor Subsidiaries or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries Guaranteed Parties may have against Parent Issuereither or both of the Guarantor Subsidiaries, to all right, title and interest Guarantied Party or the other Beneficiaries Guaranteed Parties may have in any such collateral or security, and to any right Guarantied Party Guaranteed Parties or the other Beneficiaries Guaranteed Parties may have against such other guarantor. Any indebtedness of Parent Issuer either or both of the Guarantor Subsidiaries now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Guaranteed Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any other Guarantor or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany or any other Guarantor with respect to the Guarantied Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Secured Party now has or may hereafter have against Parent IssuerCompany or any other Guarantor, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Secured Party and (b) any right of contribution with respect to the Guarantied Obligations that such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any such rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or any other Guarantor or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied any Secured Party or the other Beneficiaries may have under the Loan Documents or any Related Credit Arrangement against Parent IssuerCompany or such other Guarantor, to all right, title and interest Guarantied any Secured Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied any Secured Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now Company or hereafter held by any other Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party the Administrative Agent on behalf of Beneficiaries the Secured Parties and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries the Secured Parties to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations Amounts shall have been paid in full, each the Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such the Guarantor now has or may hereafter have against Parent Issuer the Company or any of its assets in connection with this Guaranty or the performance by such the Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including including, without limitation limitation, (i) any right of subrogation, reimbursement or indemnification that such the Guarantor now has or may hereafter have against Parent Issuer, the Company; (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuer, the Company; and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such the Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied ObligationsAmounts. Each The Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such the Guarantor may have against Parent Issuer the Company or against any collateral or security, and any rights of contribution such the Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuerthe Company, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer the Company now or hereafter held by any the Guarantor is subordinated in right of payment to the Guarantied ObligationsAmounts, and any such indebtedness of Parent Issuer the Company to a the Guarantor collected or received by such the Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a the Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations Amounts have not been paid in full, shall be held in trust for Guarantied Party on behalf of the Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied ObligationsAmounts.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each the Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such the Guarantor now has or may hereafter have against Parent Issuer the Co-Borrower or any of its assets in connection with this Guaranty or the performance by such the Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such the Guarantor now has or may hereafter have against Parent Issuerthe Co-Borrower with respect to the Guarantied Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary of the Lender Group now has or may hereafter have against Parent Issuerthe Co-Borrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary of the Lender Group and (b) any right of contribution such with respect to the Guarantied Obligations that the Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each The Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any such rights of subrogation, reimbursement or indemnification such the Guarantor may have against Parent Issuer the Co-Borrower or against any collateral or security, and any rights of contribution such the Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or any of the other Beneficiaries Lender Group may have under the Loan Documents or any Related Credit Arrangement against Parent Issuerthe Co-Borrower, to all right, title and interest Guarantied Party or any of the other Beneficiaries Lender Group may have in any such collateral or security, and to any right Guarantied Party or any of the other Beneficiaries Lender Group may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment the Co-Borrower to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such the Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a the Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party the Administrative Agent on behalf of Beneficiaries the Lender Group and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries the Lender Group to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullTermination Date, each Guarantor shall shall, solely with respect to the Guaranteed Obligations, withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any other Guarantee Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, equity under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany other Guarantee Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Secured Party now has or may hereafter have against Parent Issuerany Guarantee Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Secured Party; and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any other Guarantee Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied the Agent or Secured Party or the other Beneficiaries may have against Parent Issuer, any Guarantee Party and to all right, title and interest Guarantied the Agent or Secured Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the So long as any Guarantied Obligations shall have Obligation remains outstanding and has not been paid in full, each Guarantor shall withhold exercise of (a) waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, statute under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (iia) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany unless Guarantor pays the Guarantied Obligations in full, and (iiib) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) Beneficiary. Guarantor will defer any exercise or enforcement of any right of contribution subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Company until payment in full of the Guarantied Obligations. In addition, until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of any right of contribution such Guarantor may have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantorGuarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such any other guarantorGuarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations (other than contingent indemnification obligations) have not been paid in full, shall be held in trust for Guarantied Party on behalf of the Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (ii) any right to enforce, or to participate in, any claim, right or remedy that the Guarantied Party or any Beneficiary now has or may hereafter have against Parent Issuer, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by the Guarantied Party or any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuer, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations and obligations under the Lender Swap Agreements) shall have been paid in fullfull and the Commitments shall have terminated, all Letters of Credit shall have expired or been cancelled (or the reimbursement Obligations in respect thereof have been secured with cash collateral or letters of credit in a manner reasonably satisfactory to Secured Party) and the Lender Swap Agreements have been paid in full (or the obligations thereunder have been secured by a collateral arrangement reasonably satisfactory to the applicable Swap Counterparty), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Each Guarantor shall withhold exercise of (a) waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (ia) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower, (iib) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower, and (iiic) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Beneficiary. In addition, until the Guarantied Obligations shall have been paid in full and (b) the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerBorrower, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each the Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such the Guarantor now has or may hereafter have against Parent Issuer the Co-Borrower or any of its assets in connection with this Guaranty or the performance by such the Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such the Guarantor now has or may hereafter have against Parent Issuerthe Co-Borrower with respect to the Guarantied Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Secured Party now has or may hereafter have against Parent Issuerthe Co-Borrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Secured Party and (b) any right of contribution such with respect to the Guarantied Obligations that the Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each The Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any such rights of subrogation, reimbursement or indemnification such the Guarantor may have against Parent Issuer the Co-Borrower or against any collateral or security, and any rights of contribution such the Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied any Secured Party or the other Beneficiaries may have under the Loan Documents or any Related Credit Arrangement against Parent Issuerthe Co-Borrower, to all right, title and interest Guarantied any Secured Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied any Secured Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment the Co-Borrower to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such the Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a the Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party the Administrative Agent on behalf of Beneficiaries the Secured Parties and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries the Secured Parties to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled or collateralized with cash or a letter of credit, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, any Lender shall have any Commitment or any Swap Counterparty shall have any obligation under any Lender Swap Agreement, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Guaranteed Obligations shall have been irrevocably paid and satisfied in fullfull and the Commitments have been irrevocably terminated and all Letters of Credit have expired or have been cancelled and all Swap Agreements are no longer in effect, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any or all of the Borrowers or any of its the assets of the Borrowers in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany or all of the Borrowers, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuerany or all of the Borrowers, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any of the Borrowers or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party Administrative Agent or the other Beneficiaries may have against Parent Issuerthe Borrowers, to all right, title and interest Guarantied Party the Administrative Agent or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party Administrative Agent or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer the Borrowers now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Guaranteed Obligations, and any such indebtedness of Parent Issuer the Borrowers to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Guaranteed Obligations have not been paid in full, shall be held in trust for Guarantied Party the Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guarantied Guaranteed Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired, been cancelled or other provisions for cash collateral or other support therefor in a manner reasonably satisfactory to the Issuing Lender has been provided, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Any Debt of the Borrower or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuer, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuer, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor (the “Obligee Guarantor”) (such Debt being referred to herein as “Intercompany Indebtedness”) is hereby subordinated in right of payment to the Guarantied Guaranteed Obligations. Upon the occurrence and during the continuance of an Event of Default, the Borrower and the Guarantors shall not make any payments in respect of Intercompany Indebtedness to any Obligee Guarantor, and any such indebtedness of Parent Issuer to a Guarantor Intercompany Indebtedness collected or received by such the Obligee Guarantor after an Event of Default has occurred and is continuingcontinuing shall be immediately paid over to the Administrative Agent or whomever is then legally entitled to receive such payment but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision of this Guaranty. Without limitation of subsection (a) above, each Guarantor agrees that any and all claims of such Guarantor against the Borrower with respect to any amount paid Debt of the Borrower to such Guarantor (“Borrower Debt”), or against any of the Borrower’s properties as a Guarantor on account result of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in fulla claim respecting such Borrower Debt, shall be held subordinate and subject in trust for Guarantied Party on behalf right of payment to the Guaranteed Obligations owed to the Beneficiaries until the Guaranteed Obligations shall have been indefeasibly paid in full in Cash; provided, that the Borrower may make payments to the applicable Guarantor in respect of such Borrower Debt until an Event of Default shall have occurred and be continuing (and upon the occurrence and during the continuance of any Event of Default, the Borrower shall forthwith not make any payments in respect of such Borrower Debt); provided, further, that all loans and advances made by a Guarantor to the Borrower shall be received by the Borrower subject to the provisions of this Loan Agreement and the other Loan Documents. Notwithstanding any right of any Guarantor to ask, demand, xxx for, take or receive any payment from the Borrower, all rights, Liens and security interests of such Guarantor, whether now or hereafter arising and howsoever existing, in any assets of the Borrower (whether constituting part of the security or collateral given to the Collateral Agent or otherwise) shall be and hereby are subordinated to the rights (if any) of the Collateral Agent and the other Beneficiaries in such assets. Except as expressly permitted by this Loan Agreement and the other Loan Documents, the Guarantors shall have no right to possession of any such asset or to foreclose upon, or exercise any other remedy in respect of, any such asset, whether by judicial action or otherwise, until the Guaranteed Obligations shall have been indefeasibly paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligationsin full in Cash.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) Each Borrower waives any claim, right or remedy, direct or indirect, that such Guarantor Borrower now has or may hereafter have against Parent Issuer the other Borrower or any of its assets in connection with this Guaranty SECTION 1.5 or the performance by such Guarantor Borrower of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Borrower now has or may hereafter have against Parent Issuerthe other Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that the Agent or any Beneficiary Lender now has or may hereafter have against Parent Issuer, the other Borrower and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by the Agent or any Beneficiary Lender. In addition, until the Obligations shall have been paid in full, the Commitments shall have terminated and (b) all Letters of Credit shall have expired or been cancelled, each Borrower shall withhold exercise of any right of contribution such Guarantor now has or Borrower may hereafter have against any the other guarantor of any of the Guarantied ObligationsBorrower. Each Guarantor Borrower further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Borrower may have against Parent Issuer the other Borrower or against any collateral or security, and any rights of contribution such Guarantor Borrower may have against any such other guarantorBorrower, shall be junior and subordinate to any rights Guarantied Party the Agent or the other Beneficiaries any Lender may have against Parent Issuer, such Borrower to all right, title and interest Guarantied Party the Agent or the other Beneficiaries any Lender may have in any such collateral or security, and to any right Guarantied Party the Agent or the other Beneficiaries any Lender may have against such other guarantorBorrower. Any indebtedness of Parent Issuer the other Borrower now or hereafter held by any Guarantor Borrower is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer the other Borrower to a Guarantor such Borrower collected or received by such Guarantor Borrower after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Borrower on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Agent and the Lenders and shall forthwith be paid over to Guarantied Party the Agent for the benefit of Beneficiaries the Lenders to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Each Guarantor shall withhold exercise of (a) waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any other Borrower or any other Loan Party or any of its such Borrower’s or Loan Party’s assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (ia) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany other Borrower or any other Loan Party, (iib) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuerany other Borrower or any other Loan Party, and (iiic) any benefit of, and any right to participate in, any collateral or security now or hereafter Exh. XI-6 Borrowers’ Guaranty held by any Beneficiary Beneficiary. In addition, until the Guarantied Obligations shall have been paid in full and (b) the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any other Borrower or any other Loan Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuerany other Borrower or any other Loan Party, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer any other Borrower or any other Loan Party now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer any other Borrower or any other Loan Party to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated, and all Letters of Credit shall have expired or been cancelled (or the reimbursement Obligations in respect thereof shall have been secured with cash collateral or letters of credit in a manner reasonably satisfactory to Guarantied Party), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Guaranteed Party or the other Beneficiaries may have against Parent IssuerBorrower, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, other than Unasserted Obligations, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the commitments to lend under the Finance Documents have terminated, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty Agreement or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. (a) Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Guarantied Party now has or may hereafter have against Parent Issuer, Company and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Guarantied party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied ObligationsObligations in respect thereof. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries Parties may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries Parties may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. List of Exhibits Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations and obligations under the Lender Swap Agreements) shall have been paid in fullfull and the Commitments shall have terminated, all Letters of Credit shall have expired or been cancelled (or the reimbursement Obligations in respect thereof have been secured with cash collateral or letters of credit in a manner reasonably satisfactory to the applicable Issuing Lender) and the Lender Swap Agreements have been paid in full (or the obligations thereunder have been secured by a collateral arrangement reasonably satisfactory to the Swap Counterparty), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, continuing and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuer, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees SF1:728512 5 that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuer, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Guaranteed Obligations shall have been paid in fullfull and any duties of the Lender to continue to fund any of the Loans shall have been irrevocably terminated and all Swaps are no longer in effect, each the Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such the Guarantor now has or may hereafter have against Parent Issuer the Borrower or any of its assets in connection with this Guaranty or the performance by such the Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such the Guarantor now has or may hereafter have against Parent Issuerthe Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuerthe Borrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such the Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each The Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such the Guarantor may have against Parent Issuer any of the Borrower or against any collateral or security, and any rights of contribution such the Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party the Lender or the other Beneficiaries may have against Parent Issuerthe Borrower, to all right, title and interest Guarantied Party the Lender or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party the Lender or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer the Borrower now or hereafter held by any the Guarantor is subordinated in right of payment to the Guarantied Guaranteed Obligations, and any such indebtedness of Parent Issuer the Borrower to a the Guarantor collected or received by such the Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a the Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Guaranteed Obligations have not been paid in full, shall be held in trust for Guarantied Party the Lender on behalf of the Beneficiaries and shall forthwith be paid over to Guarantied Party the Lender for the benefit of Beneficiaries to be credited and applied against the Guarantied Guaranteed Obligations.

Subordination of Other Obligations. Until the Guarantied Guaranteed Obligations shall have been paid in full, each Guarantor Parent shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor Parent now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor Parent of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Parent now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor Parent now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each Guarantor Parent further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Parent may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor Parent may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Guaranteed Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Guaranteed Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Guaranteed Party or the other Beneficiaries may have against such other guarantor. Any indebtedness or other payment obligations of Parent Issuer Company now or hereafter held by any Guarantor Parent is subordinated in right of payment to the Guarantied Guaranteed Obligations, and any such indebtedness of Company or any of its Subsidiaries to Parent Issuer to a Guarantor collected or received by such Guarantor Parent after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Parent on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Guaranteed Obligations have not been paid in full, shall be held in trust for Guarantied Guaranteed Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Guaranteed Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Guaranteed Obligations.

Subordination of Other Obligations. Until the Guarantied Guaranteed Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Guaranteed Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Guaranteed Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Guaranteed Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Guaranteed Party or the other Beneficiaries may have against such other guarantor. Any indebtedness or other payment obligations of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Guaranteed Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Guaranteed Obligations have not been paid in full, shall be held in trust for Guarantied Guaranteed Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Guaranteed Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Guaranteed Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullTermination Date, each Guarantor shall shall, solely with respect to the Obligations, withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any Guarantee Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, equity under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany Guarantee Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Credit Party now has or may hereafter have against Parent Issuerany Guarantee Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Credit Party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations, including under Section 1(c). Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any Guarantee Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied any Credit Party or the other Beneficiaries may have against Parent Issuerany Guarantee Party in respect of the Guaranteed Obligations, to all right, title and interest Guarantied any Credit Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or security under the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied ObligationsLoan Documents.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Guarantied Party now has or may hereafter have against Parent Issuer, Company and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Guarantied Party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied ObligationsObligations in respect thereof. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, security and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries Parties may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries Parties may have in any such collateral or security, security and to any right Guarantied Party or the other Beneficiaries Parties may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries Parties and shall forthwith promptly be paid over to Guarantied Party for the benefit of Beneficiaries Parties to be credited and applied against the Guarantied ObligationsObligations but without affecting, impairing or limiting in any manner the liability of such Guarantor under any other provision of this Guaranty; provided that any payment on such indebtedness received by any Guarantor at any time when no Event of Default has occurred and is continuing and in accordance with this Guaranty or the Note Purchase Agreement shall be permitted and need not be held in trust for or paid over to Guarantied Parties.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any Loan Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany Loan Party, including but not limited to any right Guarantor now has or may hereafter have against any Loan Party in connection with any draw on the Tranche A Letter of Credit or in connection with the Station Agreements except as permitted under subsection 6.1 of the Credit Agreement, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuerany Loan Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any Loan Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuerany Loan Party, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer any Loan Party now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer any Loan Party to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled or collateralized with cash or a letter of credit, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, any Lender shall have any Commitment or any Swap Counterparty shall have any obligation under any Lender Swap Agreement, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any other Loan Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or any other Loan Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerBorrower or any other Loan Party, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower or any other Loan Party now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower or any other Loan Party to a Guarantor collected or received by such C-6 Form of Subsidiary Guaranty Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired, each been cancelled or other provisions for cash collateral or other support therefor in a manner reasonably satisfactory to the Issuing Lender has been provided, Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries Beneficiaries, and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) Each Borrower waives any claim, right or remedy, direct or indirect, that such Guarantor Borrower now has or may hereafter have against Parent Issuer the other Borrower or any of its assets in connection with this Guaranty Section 1.6 or the performance by such Guarantor Borrower of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Borrower now has or may hereafter have against Parent Issuerthe other Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that the Agent or any Beneficiary Lender now has or may hereafter have against Parent Issuer, the other Borrower and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by the Agent or any Beneficiary Lender. In addition, until the Obligations shall have been paid in full, the Commitments shall have terminated and (b) all Letters of Credit shall have expired or been cancelled, each Borrower shall withhold exercise of any right of contribution such Guarantor now has or Borrower may hereafter have against any the other guarantor of any of the Guarantied ObligationsBorrower. Each Guarantor Borrower further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Borrower may have against Parent Issuer the other Borrower or against any collateral or security, and any rights of contribution such Guarantor Borrower may have against any such other guarantorBorrower, shall be junior and subordinate to any rights Guarantied Party the Agent or the other Beneficiaries any Lender may have against Parent Issuer, such Borrower to all right, title and interest Guarantied Party the Agent or the other Beneficiaries any Lender may have in any such collateral or security, and to any right Guarantied Party the Agent or the other Beneficiaries any Lender may have against such other guarantorBorrower. Any indebtedness of Parent Issuer the other Borrower now or hereafter held by any Guarantor Borrower is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer the other Borrower to a Guarantor such Borrower collected or received by such Guarantor Borrower after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Borrower on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Agent and the Lenders and shall forthwith be paid over to Guarantied Party the Agent for the benefit of Beneficiaries the Lenders to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than unasserted Obligations for taxes, costs, indemnifications, reimbursement, damages and other liabilities in respect of which no claim or demand for payment has been made (or, in the case of Obligations for indemnification, no notice for indemnification has been issued by the Indemnitee) at such time) shall have been paid in fullfull and the Commitments shall have terminated, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law Law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuer, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent Issuer, and (iii) any benefit of, and any right to participate in, any collateral Collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer or against any collateral Collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent Issuer, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral Collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness Indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness Indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations Amounts shall have been paid in full, each the Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such the Guarantor now has or may hereafter have against Parent Issuer the Company or any of its assets in connection with this Guaranty or the performance by such the Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including including, without limitation limitation, (i) any right of subrogation, reimbursement or indemnification that such the Guarantor now has or may hereafter have against Parent Issuer, the Company; (ii) any right to enforce, or to participate in, any claim, right or remedy that any the Beneficiary now has or may hereafter have against Parent Issuer, the Company; and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any the Beneficiary and (b) any right of contribution such the Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied ObligationsAmounts. Each The Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such the Guarantor may have against Parent Issuer the Company or against any collateral or security, and any rights of contribution such the Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries Beneficiary may have against Parent Issuerthe Company, to all right, title and interest Guarantied Party or the other Beneficiaries Beneficiary may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries Beneficiary may have against such other guarantor. Any indebtedness of Parent Issuer the Company now or hereafter held by any the Guarantor is subordinated in right of payment to the Guarantied ObligationsAmounts, and any such indebtedness of Parent Issuer the Company to a the Guarantor collected or received by such the Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a the Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations Amounts have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Beneficiary and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries Beneficiary to be credited and applied against the Guarantied ObligationsAmounts.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) Each Borrower waives any claim, right or remedy, direct or indirect, that such Guarantor Borrower now has or may hereafter have against Parent Issuer the other Borrower or any of its assets in connection with this Guaranty Section 2.25 or the performance by such Guarantor Borrower of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Borrower now has or may hereafter have against Parent Issuerthe other Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that the Administrative Agent or any Beneficiary Lender now has or may hereafter have against Parent Issuer, the other Borrower and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by the Administrative Agent or any Beneficiary Lender. In addition, until the Obligations shall have been paid in full, the Commitments shall have terminated and (b) all Letters of Credit shall have expired or been cancelled, each Borrower shall withhold exercise of any right of contribution such Guarantor now has or Borrower may hereafter have against any the other guarantor of any of the Guarantied ObligationsBorrower. Each Guarantor Borrower further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Borrower may have against Parent Issuer the other Borrower or against any collateral or security, and any rights of contribution such Guarantor Borrower may have against any such other guarantorBorrower, shall be junior and subordinate to any rights Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have against Parent Issuer, such Borrower to all right, title and interest Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have in any such collateral or security, and to any right Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have against such other guarantorBorrower. Any indebtedness of Parent Issuer a Borrower now or hereafter held by any Guarantor the other Borrower is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer such Borrower to a Guarantor the other Borrower collected or received by such Guarantor other Borrower after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Borrower on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Administrative Agent and the Lenders and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries the Lenders to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may shall have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, and to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any other Loan Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or any other Loan Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerBorrower or any other Loan Party, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower or any other Loan Party now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower or any other Loan Party to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullTermination Date, each Guarantor shall shall, solely with respect to the Obligations, withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any Guarantee Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, equity under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany Guarantee Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Secured Party now has or may hereafter have against Parent Issuerany Guarantee Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Secured Party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any Guarantee Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries any Agent may have against Parent Issuer, any Guarantee Party and to all right, title and interest Guarantied Party or the other Beneficiaries such Agent may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until payment in full of the Guarantied Guaranteed Obligations shall have (other than contingent indemnification claims for which a claim has not been paid in fullasserted), each Guarantor shall shall, solely with respect to the Obligations, withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer any Guarantee Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, equity under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent Issuerany Guarantee Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Credit Party now has or may hereafter have against Parent Issuerany Guarantee Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Credit Party and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations, including under Section 1(c). Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer any Guarantee Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied any Credit Party or the other Beneficiaries may have against Parent Issuerany Guarantee Party in respect of the Guaranteed Obligations, to all right, title and interest Guarantied any Credit Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or security under the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied ObligationsLoan Documents.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations and obligations under the Lender Swap Agreements) shall have been paid in fullfull and the Commitments shall have terminated and the Lender Swap Agreements have been paid in full (or the obligations thereunder have been secured by a collateral arrangement reasonably satisfactory to the applicable Swap Counterparty), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations) shall have been paid in fullfull and the Commitments shall have terminated, and all Letters of Credit shall have expired or been cancelled (or the reimbursement Obligations in respect thereof shall have been secured with cash collateral or letters of credit in a manner reasonably satisfactory to Guarantied Party), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including without limitation under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerBorrower, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, other than Unasserted Obligations, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations (other than Unasserted Obligations and obligations under the Lender Swap Agreements) shall have been paid in fullfull and the Commitments shall have terminated, all Letters of Credit shall have expired or been cancelled (or the reimbursement Obligations in respect thereof have been secured with cash collateral or letters of credit in a manner reasonably satisfactory to the applicable Issuing Lender) and the Lender Swap Agreements have been paid in full (or the obligations thereunder have been secured by a collateral arrangement reasonably satisfactory to the Swap Counterparty), each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Company or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case case, whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerCompany, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerCompany, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Company or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerCompany, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Company now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Company to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, continuing and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) Each Borrower waives any claim, right or remedy, direct or indirect, that such Guarantor Borrower now has or may hereafter have against Parent Issuer the other Borrower or any of its assets in connection with this Guaranty Section 2.25 or the performance by such Guarantor Borrower of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Borrower now has or may hereafter have against Parent Issuerthe other Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary Agent or any Lender now has have or may hereafter have against Parent Issuer, the other Borrower and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary Agent or any Lender. In addition, until the Obligations shall have been paid in full, the Commitments shall have terminated and (b) all Letters of Credit shall have expired or been cancelled, each Borrower shall withhold the exercise of any right of contribution such Guarantor now has or Borrower may hereafter have against any the other guarantor of any of the Guarantied ObligationsBorrower. Each Guarantor Borrower further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Borrower may have against Parent Issuer the other Borrower or against any collateral or security, and any rights of contribution such Guarantor Borrower may have against any such other guarantorBorrower, shall be junior and subordinate to any rights Guarantied Party the any Agent or the other Beneficiaries any Lender may have against Parent Issuer, such Borrower to all right, title and interest Guarantied Party the any Agent or the other Beneficiaries any Lender may have in any such collateral or security, and to any right Guarantied Party the any Agent or the other Beneficiaries any Lender may have against such other guarantorBorrower. Any indebtedness of Parent Issuer any Borrower now or hereafter held by any Guarantor Borrower is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer the other Borrower to a Guarantor such Borrower collected or received by such Guarantor Borrower after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Borrower on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Agents and the Lenders and shall forthwith be paid over to Guarantied Party the Collateral Agent for the benefit of Beneficiaries the Lenders to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in full, each Guarantor shall withhold exercise of (a) Each Borrower waives any claim, right or remedy, direct or indirect, that such Guarantor Borrower now has or may hereafter have against Parent Issuer the other Borrower or any of its assets in connection with this Guaranty Section 2.24 or the performance by such Guarantor Borrower of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statutestatute (including under California Civil Code Section 2847, 2848 or 2849), under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor Borrower now has or may hereafter have against Parent Issuerthe other Borrower, (ii) any right to enforce, or to participate in, any claim, right or remedy that the Administrative Agent or any Beneficiary Lender now has have or may hereafter have against Parent Issuer, the other Borrower and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by the Administrative Agent or any Beneficiary Lender. In addition, until the Obligations shall have been paid in full, the Commitments shall have terminated and (b) all Letters of Credit shall have expired or been cancelled, each Borrower shall withhold the exercise of any right of contribution such Guarantor now has or Borrower may hereafter have against any the other guarantor of any of the Guarantied ObligationsBorrower. Each Guarantor Borrower further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor Borrower may have against Parent Issuer the other Borrower or against any collateral or security, and any rights of contribution such Guarantor Borrower may have against any such other guarantorBorrower, shall be junior and subordinate to any rights Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have against Parent Issuer, such Borrower to all right, title and interest Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have in any such collateral or security, and to any right Guarantied Party the Administrative Agent or the other Beneficiaries any Lender may have against such other guarantorBorrower. Any indebtedness of Parent Issuer any Borrower now or hereafter held by any Guarantor Borrower is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer the other Borrower to a Guarantor such Borrower collected or received by such Guarantor Borrower after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor Borrower on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of Beneficiaries the Administrative Agent and the Lenders and shall forthwith be paid over to Guarantied Party the Administrative Agent for the benefit of Beneficiaries the Lenders to be credited and applied against the Guarantied Obligations.

Subordination of Other Obligations. Until the Guarantied Obligations shall have been paid in fullfull and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled, each Guarantor shall withhold exercise of (a) any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against Parent Issuer Borrower or any other Loan Party or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Parent IssuerBorrower or any other Loan Party, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary and (b) any right of contribution such Guarantor now has or may hereafter have against any other guarantor of any of the Guarantied Obligations. Each Guarantor further agrees that, to the extent the agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such Guarantor may have against Parent Issuer Borrower or any other Loan Party or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights Guarantied Party or the other Beneficiaries may have against Parent IssuerBorrower or any other Loan Party, to all right, title and interest Guarantied Party or the other Beneficiaries may have in any such collateral or security, and to any right Guarantied Party or the other Beneficiaries may have against such other guarantor. Any indebtedness of Parent Issuer Borrower or any other Loan Party now or hereafter held by any Guarantor is subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of Parent Issuer Borrower or any other Loan Party to a Guarantor collected or received by such Guarantor after an Event of Default has occurred and is continuing, and any amount paid to a Guarantor on account of any subrogation, reimbursement, indemnification or contribution rights referred to in the preceding paragraph when all Guarantied Obligations have not been paid in full, shall be held in trust for Guarantied Party on behalf of 92806623_4 Beneficiaries and shall forthwith be paid over to Guarantied Party for the benefit of Beneficiaries to be credited and applied against the Guarantied Obligations.