Common use of Subordination of Sums Payable to Any Guarantor Clause in Contracts

Subordination of Sums Payable to Any Guarantor. Each Guarantor hereby subordinates all claims and demands it has, or may in the future have, against the Borrower or any other Guarantor arising or growing out of any indebtedness, liability or obligation, direct or indirect, due or to become due which arises, may arise or arose by reason of any advance or loan by such Guarantor, directly or indirectly, to the Borrower or any other Guarantor (all of such claims and demands being herein referred to collectively as the “Subordinated Liabilities”), to the prior and full payment, performance, satisfaction and discharge of the Obligations, and each Guarantor agrees that the Security Agent shall first be paid in full with interest all sums now due or that may hereafter accrue and become due and payable by the Borrower under the Credit Agreement, the Notes and any other Loan Document before any Guarantor shall be paid anything by the Borrower or out of any property of the Borrower for or on account of any of the Subordinated Liabilities. Each Guarantor further agrees that the Security Agent, the Administrative Agent or any Credit Facility Lender may at any time and from time to time renew or extend the time of payment of any indebtedness of the Borrower to the Credit Facility Lenders, or any portion of such indebtedness, and may make new loans to the Borrower, secured or unsecured, under the Credit Agreement or otherwise, with or without a guarantee, all without any notice to the Guarantors who shall nonetheless remain fully bound by their agreement to subordinate the Subordinated Liabilities until this Guaranty has been terminated by the Security Agent in the manner hereinafter provided.

Subordination of Sums Payable to Any Guarantor. Each The Guarantor hereby subordinates all claims and demands it has, or may in the future have, against the Borrower or any other Guarantor arising or growing out of any indebtedness, liability or obligation, direct or indirect, due or to become due which arises, may arise or arose by reason of any advance or loan by such the Guarantor, directly or indirectly, to the Borrower or Borrower, but excluding any other compensation from time to time accrued and owed to Guarantor from Borrower, as such compensation is permitted under Section 6.07 of the Trust Agreement (all of such claims and demands being herein referred to collectively as the “Subordinated Liabilities”), to the prior and full payment, performance, satisfaction and discharge of the Obligations, and each the Guarantor agrees that the Security Agent shall first be paid in full with interest all sums now due or that may hereafter accrue and become due and payable by the Borrower under the Credit Agreement, the Notes and any other Loan Document before any the Guarantor shall be paid anything by the Borrower or out of any property of the Borrower for or on account of any of the Subordinated Liabilities. Each The Guarantor further agrees that the Security Agent, the Administrative Agent or any Credit Facility Lender or Non-Lender may at any time and from time to time renew or extend the time of payment of any indebtedness of the Borrower to the Credit Facility LendersSecurity Agent, the Administrative Agent or any Lender or Non-Lender, or any portion of such indebtedness, and may make new loans to the Borrower, secured or unsecured, under the Credit Agreement or otherwise, with or without a guarantee, all without any notice to the Guarantors Guarantor who shall nonetheless remain fully bound by their its agreement to subordinate the Subordinated Liabilities until this Guaranty has been terminated by the Security Agent in the manner hereinafter provided.

Subordination of Sums Payable to Any Guarantor. Each The Guarantor hereby subordinates all claims and demands it has, or may in the future have, against the Borrower or any other Guarantor Owner Participant arising or growing out of any indebtedness, liability or obligation, direct or indirect, due or to become due which arises, may arise or arose by reason of any advance or loan by such the Guarantor, directly or indirectly, to the Borrower or Owner Participant, but excluding any other compensation from time to time accrued and owed to Guarantor from Owner Participant, as such compensation is permitted under the Trust Agreement (all of such claims and demands being herein referred to collectively as the “"Subordinated Liabilities”"), to the prior and full payment, performance, satisfaction and discharge of the Secured Obligations, and each the Guarantor agrees that the Security Agent shall first be paid in full with interest all sums now due or that may hereafter accrue and become due and payable by the Borrower Owner Participant under the Credit Loan Agreement, the Notes and any other Loan Document before any the Guarantor shall be paid anything by the Borrower Owner Participant or out of any property of the Borrower Owner Participant for or on account of any of the Subordinated Liabilities. Each The Guarantor further agrees that the Security Agent, the Administrative Agent or any Credit Facility Lender or Non-Lender may at any time and from time to time renew or extend the time of payment of any indebtedness of the Borrower Owner Participant to the Credit Facility LendersAgent or any Lender or Non-Lender, or any portion of such indebtedness, and may make new loans to the BorrowerOwner Participant, secured or unsecured, under the Credit Loan Agreement or otherwise, with or without a guarantee, all without any notice to the Guarantors Guarantor who shall nonetheless remain fully bound by their its agreement to subordinate the Subordinated Liabilities until this Guaranty has been terminated by the Security Agent in the manner hereinafter provided.