Common use of Subordination of Rights Clause in Contracts

Subordination of Rights. 7.1 The Asset Monitor hereby agrees that it shall not take any steps for the purpose of recovering any amounts payable to it under or pursuant to this Agreement (including, without limitation, by exercising any rights of set-off) or procuring the winding up, administration or liquidation of the Guarantor LP in respect of any of its liabilities whatsoever unless a Guarantor LP Acceleration Notice shall have been served.

Subordination of Rights. 7.1 The Asset Monitor hereby agrees that it shall not take any steps for the purpose of recovering any amounts payable to it under or pursuant to this Agreement (including, without limitation, including by exercising any rights of set-off) or or, subject to Article 17, procuring the winding up, administration or liquidation of the Guarantor LP Guarantor, the Managing GP or the Liquidation GP in respect of any of its liabilities whatsoever under or pursuant to this Agreement, the Trust Deed or the Security Agreement unless a Guarantor LP Acceleration Notice shall have been served.

Subordination of Rights. 7.1 The Asset Monitor hereby agrees that it shall not take any steps for the purpose of recovering any amounts payable to it under or pursuant to this Agreement (including, without limitation, including by exercising any rights of set-off) or or, subject to Section 17, procuring the winding up, administration or liquidation of the Guarantor LP Guarantor, the Managing GP or the Liquidation GP in respect of any of its liabilities whatsoever under or pursuant to this Agreement, the Trust Deed or the Security Agreement unless a Guarantor LP Acceleration Notice shall have been served.

Subordination of Rights. 7.1 The Asset Monitor hereby agrees that it shall not take any steps for the purpose of recovering any amounts payable to it under or pursuant to this Agreement (including, without limitation, including by exercising any rights of compensation or set-off) or or, subject to Section 17, procuring the winding up, administration or liquidation of the Guarantor LP Guarantor, the Managing GP or the Liquidation GP in respect of any of its liabilities whatsoever under or pursuant to this Agreement, the Trust Deed, the Security Agreement or the Security Documents unless a Guarantor LP Acceleration Notice shall have been served.