Subordination, Subrogation, Etc. Each Guarantor agrees that any present or future indebtedness, obligations or liabilities of the Company to any Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of the Company to the Noteholders. Each Guarantor waives any right of subrogation to the rights of the Noteholders against the Company or any other Person obligated for payment of the Guarantied Obligations and any right of reimbursement, contribution or indemnity whatsoever (including, without limitation, any such right as against any other guarantor) arising or accruing out of any payment that any Guarantor may make pursuant to this Guaranty, and any right of recourse to security for the debts and obligations of the Company, unless and until the entire amount of the Guarantied Obligations shall have been paid in full.
Subordination, Subrogation, Etc. The Guarantor agrees that any present or future indebtedness, obligations or liabilities of any Borrowing Subsidiary to the Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of any Borrowing Subsidiary to the Banks and the Agent, and the Guarantor shall not exercise any right of subrogation, reimbursement or indemnity whatsoever nor any right of recourse to security for the debts and obligations of any Borrowing Subsidiary, until all of the Guaranteed Obligations have been paid in full and are not subject to any right of revocation or rescission.
Subordination, Subrogation, Etc. The Company agrees that any present or future indebtedness, obligations or liabilities of any Borrowing Subsidiary to Company shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of the Borrowing Subsidiaries to the Lenders and the Agent. The Company waives any right of subrogation to the rights of any Lender or the Agent against any Borrowing Subsidiary or any other person obligated for payment of the Guaranteed Obligations and any right of reimbursement or indemnity whatsoever arising or accruing out of any payment which the Company may make pursuant to this Agreement and the Notes, and any right of recourse to security for the debts and obligations of each Borrowing Subsidiary, unless and until the entire principal balance of and interest on the Guaranteed Obligations shall have been paid in full, and to the extent the Company is an "insider" as defined in Section 101(2) of the United States Bankruptcy Code, such waiver shall be permanent and shall not be revoked or terminated in any event, including payment in full of the principal and interest of the Guaranteed Obligations.
Subordination, Subrogation, Etc. The Guarantor agrees that any present or future indebtedness, obligations or liabilities of either of the Borrowers to the Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of either Borrower to the Bank. The Guarantor waives any right of subrogation to the rights of the Bank against either Borrower or any other person obligated for payment of the Guaranteed Obligations and any right of reimbursement or indemnity whatsoever arising or accruing out of any payment which the Guarantor may make pursuant to this Agreement and the Notes, and any right of recourse to security for the debts and obligations of the Borrowers, unless and until the entire principal balance of and interest on the Guaranteed Obligations shall have been paid in full.
Subordination, Subrogation, Etc. The Guarantor’s rights of subrogation and reimbursement shall be limited as described in the Separation Agreement. Without prejudice to the Guarantor’s rights under the Separation Agreement, the Guarantor will not have any claim against any Beneficiary as guarantor or insurer in the nature of subrogation or reimbursement under any Obligation or FSA Policy.
Subordination, Subrogation, Etc. The Guarantor agrees that any present or future indebtedness, obligations or liabilities of any Borrower to the Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of any Borrower to the Banks and the Agent, and the Guarantor shall not exercise any right of subrogation, reimbursement or indemnity whatsoever nor any right of recourse to security for the debts and obligations of any Borrower, until the Loan Agreement shall expire or be terminated and all of the Guaranteed Obligations have been paid in full and are not subject to any right of revocation or rescission, all as more fully set forth in the Subrogation and Contribution Agreement of even date herewith (as the same shall be amended or modified from time to time) among the Guarantors and the Company.
Subordination, Subrogation, Etc. Each Guarantor agrees that any present or future indebtedness, obligations or liabilities of the Company to such Guarantor shall be fully subordinate and junior in right and priority of payment to the Guarantied Obligations and any present or future indebtedness, obligations or liabilities of the Company to the Noteholders. Each Guarantor waives any right of subrogation to the rights of the Noteholders against the Company or any other Person obligated for payment of the Guarantied Obligations and any right of reimbursement, contribution or indemnity whatsoever (including, without limitation, any such right as against the Company or any other Guarantor) arising or accruing out of any payment that such Guarantor may make pursuant to this Subsidiary Guaranty, and any right of recourse to security for the debts and obligations of the Company, unless and until the entire amount of the Guarantied Obligations shall have been fully, finally and indefeasibly paid in full for a period of not less than one hundred twenty (120) days.
Subordination, Subrogation, Etc. Each Guarantor agrees that any present or future Indebtedness of (i) Borrower to any Guarantor, or (ii) any Guarantor to any other Guarantor, shall be fully subordinate and junior in right and priority of payment to the Obligations. Each Guarantor waives any right of subrogation to your rights against Borrower or any other person obligated for payment of the Guaranteed Obligations and any right of reimbursement or indemnity whatsoever arising or accruing out of any payment which any Guarantor may make pursuant to this Agreement and the Note, and any right of recourse to security for the debts and obligations of Borrower, unless and until the entire principal balance of and interest on the Guaranteed Obligations shall have been paid in full.
Subordination, Subrogation, Etc. Each Guarantor agrees that any ------------------------------- present or future indebtedness, obligations or liabilities of the Company to any Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of the Company to the Bank. Each Guarantor waives any right of subrogation to the rights of the Bank against the Company or any other person obligated for payment of the Guaranteed Obligations and any right of reimbursement or indemnity whatsoever arising or accruing out of any payment which any Guarantor may make pursuant to this Agreement and the Note, and any right of recourse to security for the debts and obligations of the Company, unless and until the entire principal balance of and interest on the Guaranteed Obligations shall have been paid in full, and to the extent such Guarantor is an "insider" as defined in Section 101(2) of the United States Bankruptcy Code, such waiver shall be permanent and shall not be revoked or terminated in any event, including payment in full of the principal and interest of the Guaranteed Obligations.
Subordination, Subrogation, Etc. The Guarantor agrees that any present or future indebtedness, obligations or liabilities of the Borrower to the Guarantor shall be fully subordinate and junior in right and priority of payment to any present or future indebtedness, obligations or liabilities of the Borrower to the Agent and the Banks under the Operative Documents, and the Guarantor hereby agrees not to exercise any rights of subrogation or contribution arising from any payments made by the Guarantor in respect of the Guaranteed Obligations of the Borrower until all amounts due and owing by the Borrower to the Agent and the Banks under the Operative Documents have been paid in full.
