Common use of Subrogation and Subordination Clause in Contracts

Subrogation and Subordination. Guarantor hereby agrees that Guarantor shall not be entitled to be subrogated to any of the rights of Obligee or any of its successors, endorsees and assigns against the Borrower of any collateral security held for payment of the Indebtedness until all of the Indebtedness has been paid in full, performed and discharged. Guarantor further agrees that any indebtedness of Borrower to Guarantor, whether now existing or hereafter incurred, shall be subordinate to the Indebtedness of Borrower to Obligee and shall not be paid or entitled to be paid in whole or in part until the Indebtedness of Borrower to Obligee has been paid and satisfied in full.

Subrogation and Subordination. Guarantor hereby agrees that Guarantor shall not be entitled to be subrogated to any of the rights of Obligee or any my of its successors, endorsees and assigns against the Borrower of any collateral security held for payment of the Indebtedness until all of the Indebtedness has been paid in full, performed and discharged. Guarantor further agrees that any indebtedness of Borrower to Guarantor, whether now existing or hereafter incurred, shall be subordinate to the Indebtedness of Borrower to Obligee and shall not be paid or entitled to be paid in whole or in part until the Indebtedness of Borrower to Obligee has been paid and satisfied in full.