Subrogation Defenses. Each Borrower waives the benefits, if any, of any statutory or common law rule that may permit a borrower to assert any defenses of a surety or guarantor, or that may give a borrower the right to require a senior creditor to marshal assets, and Borrower agrees that it shall not assert any such defenses or rights.
Appears in 11 contracts
Samples: Credit Agreement (HII Technologies, Inc.), Account Purchase Agreement (HII Technologies, Inc.), Loan and Security Agreement (Intersearch Group Inc)
Subrogation Defenses. Each Borrower waives the benefits, if any, of any statutory or common law rule that may permit a borrower to assert any defenses of a surety or guarantor, or that may give a borrower the right to require a senior creditor to marshal assets, and such Borrower agrees that it shall not assert any such defenses or rights.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ecollege Com), Loan and Security Agreement (Qualmark Corp)
Subrogation Defenses. Each Borrower waives the benefits, if any, of any statutory or common law rule that may permit a borrower to assert any defenses of a surety or guarantor, or that may give a borrower the right to require a senior creditor to marshal assets, and each Borrower agrees that it shall not assert any such defenses or rights.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc)
Subrogation Defenses. Each Borrower waives the benefits, if any, of any statutory or common law rule that may permit a borrower such Borrower to assert any defenses of a surety or guarantor, or that may give a borrower the right to require a senior creditor to marshal assets, and such Borrower agrees that it shall not assert any such defenses or rights.
Appears in 1 contract
