Common use of Subrogation, etc Clause in Contracts

Subrogation, etc. No payment or distribution to the Senior Lender pursuant to the provisions of this Agreement shall entitle the Junior Creditors to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Creditors shall be subrogated to the rights of the Senior Lender to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be Paid in Full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lender by or on behalf of the Obligors or by or on behalf of the Junior Creditors by virtue of this Agreement which otherwise would have been made to the Junior Creditors shall, as among the Obligors, their creditors other than the Senior Lender and the Junior Creditors, be deemed to be payment by the Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender on the one hand, and the Junior Creditors, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lender Agent or the Senior Lenders pursuant to the provisions of this Agreement shall entitle the Junior Creditors Senior Subordinated Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Creditors Senior Subordinated Lender shall be subrogated to the rights of the Senior Lender Agent and the Senior Lenders to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Senior Subordinated Indebtedness shall be Paid have been paid in Fullfull; provided, and however, that for the purpose of such subrogation, no such payments or distributions to the Senior Lender Agent or the Senior Lenders by virtue of this Agreement by or on behalf of the Obligors or by or on behalf of the Junior Creditors by virtue of this Agreement which Senior Subordinated Lender that otherwise would have been made to the Junior Creditors Senior Subordinated Lender on account of the Senior Subordinated Indebtedness shall, as among the Obligors, their creditors other than the Senior Lender Agent and the Junior CreditorsSenior Lenders, and the Senior Subordinated Lender, be deemed to be payment by the Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender Agent and the Senior Lenders on the one hand, and the Junior CreditorsSenior Subordinated Lender, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lender Lenders pursuant to the provisions of this Agreement shall entitle the Junior Creditors Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Creditors Lender shall be subrogated to the rights of the Senior Lender Lenders to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be Paid paid in Fullfull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lender Lenders by or on behalf of the Obligors or by or on behalf of the Junior Creditors Lender by virtue of this Agreement which otherwise would have been made to the Junior Creditors Lender shall, as among the Obligors, their creditors other than the Senior Lender Lenders and the Junior CreditorsLender, be deemed to be payment by the Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender Lenders on the one hand, and the Junior CreditorsLender, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lender Lenders pursuant to the provisions of this Agreement shall entitle the Junior Creditors Trustee or the Noteholders to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Creditors Noteholders shall be subrogated to the rights of the Senior Lender Lenders to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be Paid in Full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lender Lenders by or on behalf of the Obligors or by or on behalf of the Junior Creditors Trustee or the Noteholders by virtue of this Agreement which otherwise would have been made to the Junior Creditors Trustee or the Noteholders shall, as among the Obligors, their creditors other than the Senior Lender Lenders and the Junior CreditorsTrustee and the Noteholders, be deemed to be payment by the Obligors to or on account of the Trustee or the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender Lenders on the one hand, and the Junior CreditorsTrustee and the Noteholders, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lender Noteholders pursuant to the provisions of this Agreement shall entitle the any Junior Creditors Obligee to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness Obligations shall have been Paid in Full. After the Senior Indebtedness Obligations has been Paid in Full, the Junior Creditors Obligees shall be subrogated to the rights of the Senior Lender Noteholders to receive payments or distributions of assets of the Obligors Company applicable to the Senior Indebtedness Obligations until all amounts owing in respect of the Junior Indebtedness Obligations shall be Paid in Full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lender Noteholders by or on behalf of the Obligors Company or by or on behalf of the Junior Creditors Obligees by virtue of this Agreement which otherwise would have been made to the Junior Creditors Obligees shall, as among the ObligorsCompany, their creditors other than the Senior Lender Noteholders and the Junior CreditorsObligees, be deemed to be payment by the Obligors Company to or on account of the Senior IndebtednessObligations, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender Noteholders on the one hand, and the Junior CreditorsObligees, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender pursuant to the provisions of this Agreement shall entitle the Junior Creditors Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Creditors Agent and the Junior Lenders shall be subrogated to the rights of the Senior Lender Agent and the Senior Lenders to receive payments or distributions of assets of the Obligors Obligor applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be Paid paid in Fullfull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lender Lenders by or on behalf of the Obligors Obligor or by or on behalf of the Junior Creditors Lenders by virtue of this Agreement which otherwise would have been made to the Junior Creditors Lenders shall, as among the ObligorsObligor, their creditors other than the Senior Lender Lenders and the Junior CreditorsLenders, be deemed to be payment by the Obligors Obligor to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lender Agent and the Senior Lenders on the one hand, and the Junior CreditorsAgent and the Junior Lender, on the other hand.