Subrogation and Subordination. The Guarantor and the Borrower agree that, in the event of any payment by the Guarantor in respect of any of the Obligations, all rights of the Guarantor to indemnity, contribution or subrogation, whether under applicable law or otherwise, shall be fully subordinated to the indefeasible payment in full in cash of the Obligations.
Appears in 5 contracts
Samples: Guarantee Agreement (Federated Department Stores Inc /De/), Credit Agreement (Federated Department Stores Inc /De/), Guarantee Agreement (Federated Department Stores Inc /De/)
