Common use of Waiver of Rights Against the Borrowers Clause in Contracts

Waiver of Rights Against the Borrowers. Until the final payment and performance in full of all of the Obligations (other than contingent indemnification Obligations with respect to which no claim has been asserted in writing), the New Guarantor shall not exercise, and the New Guarantor hereby waives, any rights against each Obligor arising as a result of payment by the New Guarantor hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and will not prove any claim in competition with Agent or any other Secured Party in respect of any payment hereunder in any bankruptcy, insolvency or reorganization case or proceedings of any nature; the New Guarantor will not claim any setoff, recoupment or counterclaim against any Obligor in respect of any liability of the New Guarantor to any Obligor; and the New Guarantor waives any benefit of and any right to participate in any collateral security which may be held by Agent or any other Secured Party.

Waiver of Rights Against the Borrowers. Until the final payment and performance in full of all of the Obligations (other than contingent indemnification Obligations with respect to which no claim has been asserted in writing), the New no Guarantor shall not exercise, exercise and the New each Guarantor hereby waives, waives any rights against each Obligor arising as a result of payment by the New such Guarantor hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and will not prove any claim in competition with Agent or any other Secured Party in respect of any payment hereunder in any bankruptcy, insolvency or reorganization case or proceedings of any nature; the New no Guarantor will not claim any setoff, recoupment or counterclaim against any Obligor in respect of any liability of the New such Guarantor to any Obligor; and the New each Guarantor waives any benefit of and any right to participate in any collateral security which may be held by Agent or any other Secured Party.

Waiver of Rights Against the Borrowers. Until the final payment and performance in full of all of the Obligations (other than contingent indemnification Obligations with respect to which no claim has been asserted in writing), the each New Guarantor shall not exercise, and the each New Guarantor hereby waives, any rights against each Obligor arising as a result of payment by the such New Guarantor hereunder, by way of subrogation, reimbursement, restitution, contribution or otherwise, and will not prove any claim in competition with Agent or any other Secured Party in respect of any payment hereunder in any bankruptcy, insolvency or reorganization case or proceedings of any nature; the each New Guarantor will not claim any setoff, recoupment or counterclaim against any Obligor in respect of any liability of the such New Guarantor to any Obligor; and the each New Guarantor waives any benefit of and any right to participate in any collateral security which may be held by Agent or any other Secured Party.