Common use of Subrogation and Contribution Clause in Contracts

Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this Article 13, the Subsidiary Guarantor making such payment shall be subrogated to the rights of the payee against the Company with respect to such obligation; provided that such Subsidiary Guarantor shall not enforce either (i) any right to receive payment by way of subrogation against the Company or against any direct or indirect security for such obligation, or any other right to be reimbursed, indemnified or exonerated by or for the account of the Company in respect thereof or (ii) any right to receive payment, in the nature of contribution or for any other reason, from any other Subsidiary Guarantor with respect to such payment, in each case so long as any amount payable by the Company hereunder or under the Notes remains unpaid.

Appears in 12 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Lyondell Houston Refinery Inc.), Indenture (Lyondell Chemical Co)

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Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company Issuers under this Article 13, the Subsidiary Guarantor making such payment shall be subrogated to the rights of the payee against the Company Issuers with respect to such obligation; provided that such Subsidiary Guarantor shall not enforce either (i) any right to receive payment by way of subrogation against the Company Issuers or against any direct or indirect security for such obligation, or any other right to be reimbursed, indemnified or exonerated by or for the account of the Company Issuers in respect thereof or (ii) any right to receive payment, in the nature of contribution or for any other reason, from any other Subsidiary Guarantor with respect to such payment, in each case so long as any amount payable by the Company Issuers hereunder or under the Notes remains unpaid.

Appears in 4 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Equistar Chemicals Lp), Indenture (Triarc Companies Inc)

Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this Article 13, the Subsidiary Guarantor making such payment shall be subrogated to the rights of the payee against the Company with respect to such obligation; provided that such Subsidiary Guarantor shall not enforce either (i) any right to receive payment by way of subrogation against the Company or against any direct or indirect security for such obligation, or any other right to be reimbursed, indemnified or exonerated by or for the account of the Company in respect thereof or (ii) any right to receive payment, in the nature of contribution or for any other reason, from any other Subsidiary Guarantor with respect to such payment, in each case so long as any amount payable by the Company hereunder or under the Notes remains unpaid.

Appears in 2 contracts

Samples: Indenture (Eastman Kodak Co), Indenture (Eastman Kodak Co)

Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company Issuers under this Article 13, the Subsidiary -- Guarantor making such payment shall be subrogated to the rights of the payee against the Company Issuers with respect to such obligation; provided that such Subsidiary Guarantor shall not enforce either (i) any right to receive payment by way of subrogation against the Company Issuers or against any direct or indirect security for such obligation, or any other right to be reimbursed, indemnified or exonerated by or for the account of the Company Issuers in respect thereof or (ii) any right to receive payment, in the nature of contribution or for any other reason, from any other Subsidiary Guarantor with respect to such payment, in each case so long as any amount payable by the Company Issuers hereunder or under the Notes remains unpaid.

Appears in 2 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Equistar Chemicals Lp)

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Subrogation and Contribution. Upon making any payment or delivery with respect to any obligation of the Company under this Article 1314, the Subsidiary Guarantor making such payment shall or delivery (as the case may be) will be subrogated to the rights of the payee against the Company with respect to such obligation; , provided that such the Subsidiary Guarantor shall may not enforce either (i) any right of subrogation, or any right to receive payment by way of subrogation against the Company or against any direct or indirect security for such obligation, or any other right to be reimbursed, indemnified or exonerated by or for the account of the Company in respect thereof or (ii) any right to receive payment, in the nature of contribution contribution, or for any other reasonotherwise, from any other Subsidiary Guarantor with respect to such payment, in each case payment or delivery so long as any amount payable or deliverable by the Company hereunder or under the Notes remains unpaidunpaid or undelivered (as the case may be).

Appears in 1 contract

Samples: Indenture (Cal Dive International, Inc.)

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