Common use of Rights Deferred Clause in Contracts

Rights Deferred. The rights of the indemnifying Obligors against other Obligors with respect to any payments on the Obligations shall be exercisable upon the full payment of the Obligations in cash and the termination or expiry of the Commitments.

Appears in 2 contracts

Sources: Pledge and Security Agreement (Consumers Energy Co), Pledge and Security Agreement (Consumers Energy Co)