Subordination; Subrogation. (a) Subject to the limitations set forth in Section 2.07, to the extent permitted by law and to the extent to do so would not constitute unlawful financial assistance, each Guarantor hereby subordinates any and all debts, liabilities and other Obligations owed to such Guarantor by each other Loan Party (the “Subordinated Obligations”) to the Guaranteed Obligations to the extent and in the manner hereinafter set forth in this Section 3.03:
Appears in 4 contracts
Samples: Guarantee Agreement (Hexion Inc.), Guarantee Agreement, Guarantee Agreement (Momentive Performance Materials Inc.)
