Common use of Rights on Subrogation Clause in Contracts

Rights on Subrogation. If any Guarantor acquires any right of subrogation by reason of a payment under or pursuant to this Article 10, such Guarantor shall not be entitled to vote as a Lender under the provisions of this Agreement or otherwise until the Guaranteed Obligations and all other amounts due to the Administration Agent and the Lenders under this Agreement have been paid or repaid in full to the Administration Agent or the Lenders.

Appears in 4 contracts

Sources: Credit Agreement (Pope & Talbot Inc /De/), Credit Agreement (Pope & Talbot Inc /De/), Credit Agreement (Pope & Talbot Inc /De/)

Rights on Subrogation. If any the Guarantor acquires any right of subrogation by reason of a payment under or pursuant to this Article 10Guarantee, such the Guarantor shall not be entitled to vote as a Lender under the provisions of this the Credit Agreement or otherwise until the Guaranteed Obligations and all other amounts due to the Administration Agent and the Lenders under this the Credit Agreement have been paid or repaid in full to the Administration Agent or the Lenders.

Appears in 1 contract

Sources: Credit Agreement (Pope & Talbot Inc /De/)