Common use of Subrogation and Similar Rights Clause in Contracts

Subrogation and Similar Rights. Notwithstanding any other provision of this Agreement or any other document related to this Agreement, until payment to Buyer in full and performance of all Obligations, each Seller irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating the Seller to the rights of Buyer under this Agreement) to seek contribution, indemnification, or any other form of reimbursement from any other Seller, or any other entity now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by the Seller with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by the Seller with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 16 shall be null and void. If any payment is made to a Seller in contravention of this Section 16, such Seller shall hold such payment in trust for Buyer and such payment shall be promptly delivered to Buyer for application to the Obligations, whether matured or unmatured.

Subrogation and Similar Rights. Notwithstanding any other provision of this Agreement or any other document related to this Agreement, until payment to Buyer in full and performance of all ObligationsLoan Document, each Seller Borrower irrevocably waives all rights that Heat Biologics, Inc. USA 23 it may have at law or in equity (including, without limitation, any law subrogating the Seller Borrower to the rights of Buyer Bank under this Agreementthe Loan Documents) to seek contribution, indemnification, or any other form of reimbursement from any other SellerBorrower, or any other entity Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by the Seller Borrower with respect to the Obligations in connection with this Agreement the Loan Documents or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by the Seller Borrower with respect to the Obligations in connection with this Agreement the Loan Documents or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section 16 13.4, shall be null and void. If any payment is made to a Seller Borrower in contravention of this Section 1613.4, such Seller Borrower shall hold such payment in trust for Buyer Bank and such payment shall be promptly delivered to Buyer Bank for application to the Obligations, whether matured or unmatured.