Common use of Subrogation to Rights of Holders of Senior Indebtedness Clause in Contracts

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, the final payment in full of all Senior Indebtedness, the Lenders shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of and interest on the Loans and the Notes shall be paid in full in cash. For purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the Lenders would be entitled except for the provisions of this Section 9, and no payments over pursuant to the provisions of this Section 9 to the holders of Senior Indebtedness by the Lenders shall, as among the Borrower, its creditors (other than holders of Senior Indebtedness) and the Lenders, be deemed to be a payment or distribution by the Borrower to or on account of the Senior Indebtedness.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, to the final prior payment in full in cash or Cash Equivalents of all Senior Indebtedness, the Lenders Holders of the Notes shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of (and premium, if any) and interest on the Loans and the Notes shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the Lenders Holders of the Notes or the Trustee would be entitled except for the provisions of this Section 9Article, and no payments over pursuant to the provisions of this Section 9 Article to the holders of Senior Indebtedness by Holders of the Lenders Notes or the Trustee, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) , and the LendersHolders of the Notes, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior Indebtedness.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, Only after the final payment in full in cash or Cash Equivalents of all amounts due or to become due on or in respect of Senior IndebtednessIndebtedness of the Company, the Lenders Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of (and premium, if any) and interest and any Special Interest on the Loans and the Notes shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions distribution to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the Lenders Holders of the Notes would be entitled except for the provisions of this Section 913, and no payments over pursuant to the provisions of this Section 9 13 to the holders of Senior Indebtedness by Holders of the Lenders Notes, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) Indebtedness and the LendersHolders of the Notes, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior Indebtedness.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, Only after the final payment in full in cash or Cash Equivalents of all amounts due or to become due on or in respect of Senior Indebtedness, the Lenders Junior Creditors shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of (and premium, if any) and interest on the Loans and the Notes shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the Lenders Junior Creditors would be entitled except for the provisions of this Section 913, and no payments over pursuant to the provisions of this Section 9 13 to the holders of Senior Indebtedness by the Lenders such Junior Creditors, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) Indebtedness and the LendersJunior Creditors, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior IndebtednessIndebtedness of the Company.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, After the final payment in full full, in cash or cash equivalents or, as acceptable to each holder of Senior Indebtedness, in any other manner of all Senior Indebtedness, the Lenders Noteholder shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of of, premium, if any, and interest on the Loans and the Notes Note shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the Lenders Noteholder would be entitled except for the provisions of this Section 9Article, and no payments over pursuant to the provisions of this Section 9 Article to the holders of Senior Indebtedness by the Lenders Noteholder, shall, as among the BorrowerIssuers, its their creditors (other than holders of Senior Indebtedness) , and the Lenders, Noteholder be deemed to be a payment or distribution by the Borrower Issuers to or on account of the Senior Indebtedness.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, Only after the final payment in full in cash or Cash Equivalents of all amounts due or to become due on or in respect of Senior IndebtednessIndebtedness of the Company and, unless the holders of Senior Indebtedness shall have the ability to terminate such commitments, the Lenders termination of all commitments in respect thereof, the Holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of (and premium, if any) and interest on the Loans and the Notes shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the Lenders Holders of the Notes would be entitled except for the provisions of this Section 913, and no payments over pursuant to the provisions of this Section 9 13 to the holders of Senior Indebtedness by Holders of the Lenders Notes, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) Indebtedness and the LendersHolders of the Notes, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior IndebtednessIndebtedness of the Company.

Subrogation to Rights of Holders of Senior Indebtedness. Subject to, and solely Closing following, to the final payment in full of all Senior IndebtednessIndebtedness (or the making of provision therefor in money or money's worth), the Lenders Holders of the Securities shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness to the extent of the payments or distributions made to the Bank, or otherwise applied to payment of, the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of (and interest premium, if any, on) and interest, if any, on the Loans and the Notes Securities shall be paid in full in cashfull. For purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the Lenders Holders of the Securities or the Trustee would be entitled except for the provisions of this Section 9Article 16, and no payments over pursuant to the provisions of this Section 9 Article 16 to the holders of Senior Indebtedness by Holders of the Lenders Securities or the Trustee, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) , and the LendersHolders of the Securities, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior Indebtedness.

Subrogation to Rights of Holders of Senior Indebtedness. Subject toAfter the Senior Indebtedness has been paid in full, and solely Closing followingprior to the Note being paid in full, the final payment in full of all Senior Indebtedness, the Lenders Investor shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to such Senior Indebtedness (to the extent of the that payments or and distributions made otherwise payable to the Bank, or otherwise Investor has been applied to payment of, of the Senior Indebtedness pursuant to the provisions of this Section 9 until the principal of and interest on the Loans and the Notes shall be paid in full in cashIndebtedness). For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the Lenders Investor would be entitled except for the provisions of this Section 95, and no payments over pursuant to the provisions of this Section 9 5 to the holders of Senior Indebtedness by the Lenders Investor, shall, as among the BorrowerCompany, its creditors (other than holders of Senior Indebtedness) Indebtedness and the LendersInvestor, be deemed to be a payment or distribution by the Borrower Company to or on account of the Senior IndebtednessIndebtedness of the Company.