Subordination of rights of Guarantor. Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, all rights which the Guarantor at any time has (whether in respect of this Guarantee or any other transaction) against the Borrower, any other Obligor or their respective assets shall be fully subordinated to the rights of the Creditor Parties under the Finance Documents; and in particular, the Guarantor shall not:
Appears in 2 contracts
Samples: Norwegian Cruise Line Holdings Ltd., Norwegian Cruise Line Holdings Ltd.
Subordination of rights of Guarantor. Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, all rights which the Guarantor at any time has (whether in respect of this Guarantee or any other transaction) against the Borrower, any other Obligor or their respective assets shall be fully subordinated to the rights of the Creditor Secured Parties under the Finance Documents; Documents and in particular, the Guarantor shall not:
Appears in 1 contract
Samples: Loan Agreement (Prestige Cruises International, Inc.)
Subordination of rights of Guarantor. Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, all rights which the Guarantor at any time has (whether in respect of this Guarantee or any other transaction) against the Borrower, any other Obligor or their respective assets shall be fully subordinated to the rights of the Creditor Secured Parties under the Finance Documents; and in particular, the Guarantor shall not:
Appears in 1 contract
Samples: Loan Agreement (Prestige Cruises International, Inc.)
