Common use of Subordination of Other Obligations Clause in Contracts

Subordination of Other Obligations. Any indebtedness of the Partnership or any Subsidiary of the Partnership now or hereafter held by the Guarantor is hereby subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of the Partnership or any Subsidiary of the Partnership to the Guarantor collected or received by the Guarantor after an Event of Default resulting from a payment default has occurred and is continuing or after an acceleration of the Guarantied Obligations shall be held in trust for Agent on behalf of Lenders and shall forthwith be paid over to Agent for the benefit of Lenders to be credited and applied against the Guarantied Obligations but without affecting, impairing or limiting in any manner the liability of the Guarantor under any other provision of this Guaranty.

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

Subordination of Other Obligations. Any indebtedness of the Partnership Borrowers or any Subsidiary of the Partnership Borrowers now or hereafter held by the Guarantor is hereby subordinated in right of payment to the Guarantied Obligations, and any such indebtedness of the Partnership Borrowers or any Subsidiary of the Partnership Borrowers to the Guarantor collected or received by the Guarantor after an Event of Default resulting from a payment default has occurred and is continuing or after an acceleration of the Guarantied Obligations shall be held in trust for Agent on behalf of Lenders and shall forthwith be paid over to Agent for the benefit of Lenders to be credited and applied against the Guarantied Obligations but without affecting, impairing or limiting in any manner the liability of the Guarantor under any other provision of this Guaranty.

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