Subordination of Subrogation Rights. Subordinate Lender agrees that if, by reason of its payment of real estate taxes or other monetary obligations of Borrower, or by reason of its exercise of any other right or remedy under the Subordinate Loan Documents, it acquires by right of subrogation or otherwise a lien on the Mortgaged Property which (but for this subsection) would be senior to the lien of the Senior Security Instrument, then, in that event, such lien shall be subject and subordinate to the lien of the Senior Security Instrument.
Subordination of Subrogation Rights. If Subordinate Lender, by indemnification, subrogation or otherwise, acquires any Lien on any of the Mortgaged Property, then that Lien will be fully subject and subordinate to the receipt by Senior Lender of payment in full of the Senior Indebtedness, and to the Senior Loan Documents, to the same extent as the Subordinate Indebtedness and the Subordinate Loan Documents are subordinate pursuant to this Agreement.
Subordination of Subrogation Rights. Guarantor hereby subordinates to all claims, rights and remedies that Owner or any of Owner's permitted assigns may have against Seller and any claim, right or remedy that Guarantor may now have or hereafter acquire against Seller that arises hereunder or in connection herewith, including any claim, remedy or right of subrogation, reimbursement, indemnity, exoneration, contribution or participation in any claim, remedy or right against Seller that arises in connection herewith, whether or not such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise until the Obligations have been paid and performed in full. If any amount shall erroneously be paid to Guarantor on account of such subrogation, reimbursement, indemnity, exoneration, contribution, and similar rights, such amount shall be held in trust for the benefit of Owner and shall forthwith be paid to Owner to be credited against the payment of the Obligations, whether matured or unmatured.
Subordination of Subrogation Rights. The Guarantor hereby waives and releases any and all rights and claims it may now or hereafter have or acquire against the Borrower that would constitute it a “creditor” of such party for purposes of the United States Bankruptcy Code, including all rights of subrogation against the Borrower and its property and all rights of indemnification, contribution and reimbursement from the Borrower and its property, regardless of whether such rights arise in connection with this Guaranty, by operation of law, pursuant to contract or otherwise. In connection therewith, the Guarantor will not exercise any rights which it may acquire by way of subrogation under this Guaranty, by any payment made hereunder or otherwise, until all the Guaranteed Obligations and all other amounts payable under this Guaranty shall have been indefeasibly paid in full. If any amount shall be paid to the Guarantor on account of such subrogation rights at any time prior to the indefeasible payment in full of the Guaranteed Obligations and all other amounts payable under this Guaranty, such amount shall be held in trust for the benefit of the Agent and shall forthwith be paid to the Agent to be credited and applied upon the Guaranteed Obligations, in accordance with the terms of the Basic Documents.
Subordination of Subrogation Rights. The rights which any of the Pledgors shall acquire against the Borrower or any other Pledgor in the nature of subrogation, indemnity or contribution rights, as a consequence of making any payments to the Agent under this Agreement, or as a consequence of the sale of any of the Pledged Collateral by the Agent pursuant to this Agreement, are, in this Section 7.5, collectively called the "Subrogation Rights" In the event of any bankruptcy or insolvency proceeding involving any Pledgor or any Property of any Pledgor, if all of the Obligations have not been paid in full in cash at the time, the Agent is hereby irrevocably authorized by each Pledgor at any such proceeding:
(a) to enforce all of the Subrogation Rights of such Pledgor, either in the name of the Agent or in the name of such Pledgor, by proof of debt, proof of claim, suit or otherwise;
(b) to collect any Property of any of the Pledgors distributed or applied by way of dividend or payment on account of such Subrogation Rights, and to apply the same, or the proceeds of any realization thereof, towards the payment of the Obligations until all of the Obligations have been paid in full in cash; and
(c) to vote claims arising under or in respect of all such Subrogation Rights. Except as and to the extent otherwise expressly contemplated and permitted by the foregoing provisions of this Section 7.5, so long as any Obligations remain unpaid, no Pledgor shall take any action of any kind to enforce any of its Subrogation Rights, and no Pledgor shall receive or accept from any Person or Persons any payments or other distributions in respect of any of its Subrogation Rights. Should any payment or distribution on account of any of the Subrogation Rights be received by any Pledgor, such payment or distribution shall be delivered by such Pledgor forthwith to the Agent for the benefit of the Secured Parties in the form received by such Pledgor, except for the addition of any endorsement or assignment necessary to effect transfer of all rights therein to the Agent. Until so delivered, each such payment shall be held by such Pledgor in trust for the benefit of the Secured Parties and shall not be commingled with any other funds of such Pledgor.
Subordination of Subrogation Rights. The Guarantors subordinate any and all claims which the Guarantors have or may have against the Sublessee by reason of subrogation for payments or performances under this Guaranty or claims for any other reason or cause. The Guarantors agree not to assert any such subrogation claim which it has or may have against the Sublessee, including claims by reason or subordination under this Guaranty, until such time as the payment and other obligations of the Sublessee to PDA are fully satisfied and discharged.
Subordination of Subrogation Rights. If Equity Bridge Lender, by indemnification, subrogation or otherwise, acquires any Lien on any of the Mortgaged Property in addition to any Permitted Payment Source that constitutes Mortgaged Property, then that Lien will be fully subject and subordinate to the receipt by Senior Lender or Funding Lender of payment in full of the Senior Indebtedness, and to the Senior Loan Documents, to the same extent as the Equity Bridge Indebtedness and the Equity Bridge Loan Documents are subordinate pursuant to this Agreement.
Subordination of Subrogation Rights. Guarantor subordinates to all Policyholder Obligations any and all claims which Guarantor has or may have against National Integrity Life by reason of subrogation for payments or performance under this Guaranty. The Guarantor agrees not to assert any such claim which it has or may have against National Integrity Life until such time as the Policyholder Obligations guaranteed by Guarantor are fully satisfied.
Subordination of Subrogation Rights. Without limiting any other provision of this Agreement, Xxxxxx Xxxxxx agrees that if, by reason of payment by Xxxxxx Xxxxxx of real estate taxes or other monetary obligations of Borrower pursuant to the documents related to the Junior Debt or by reason of Xxxxxx Xxxxxx’s exercise of any other right or remedy under the documents related to the Junior Debt, Xxxxxx Xxxxxx acquires by right of subrogation or otherwise a lien or encumbrance on the Property or the Project that, but for this Section 10, would be considered senior to the lien or liens of any of the documents related to the Senior Debt, in that event, such lien or encumbrance of Junior Lender shall be subject and subordinate to Senior Lien and the other documents related to the Senior Debt.
Subordination of Subrogation Rights. The Guarantor hereby waives and releases any and all rights and claims it may now or hereafter have or acquire against the Borrowers that would constitute it a "creditor" of the Borrowers for purposes of the Federal Bankruptcy Code, including all rights of subrogation against the Borrowers and their property and all rights of indemnification, contribution and reimbursement from the Borrowers and their property, regardless of whether such rights arise in connection with this Guarantee, by operation of law, pursuant to contract or otherwise.
