Common use of Subordination, Subrogation, Etc Clause in Contracts

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 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 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.