Common use of Subrogation, etc Clause in Contracts

Subrogation, etc. No payment or distribution to the Senior Lenders pursuant to the provisions of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Lender shall be subrogated to the rights of the Senior Lenders to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid in full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligors or by or on behalf of the Junior Lender by virtue of this Agreement which otherwise would have been made to the Junior Lender shall, as among the Obligors, their creditors other than the Senior Lenders and the Junior Lender, be deemed to be payment by the Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lenders on the one hand, and the Junior Lender, on the other hand.

Subrogation, etc. No Upon payment or distribution to the Senior Lenders pursuant to the provisions in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullIndebtedness, the Junior Lender Holder of the Note shall be subrogated to the rights of the holders of Senior Lenders Indebtedness to receive payments or distributions of assets of the Obligors applicable Company pro rata in proportion to the Senior Indebtedness until all respective amounts then owing in respect to the Holders of the Junior Indebtedness shall be paid in full, Notes; and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Indebtedness of any cash, property or on behalf securities to which the Holders of the Obligors or by or on behalf of Notes would be entitled except for the Junior Lender by virtue provisions of this Agreement which otherwise would have been made Section 6, and no payment over pursuant to such provisions to the Junior Lender holders of Senior Indebtedness, shall, as among between the Obligors, their Company and its creditors (other than the Senior Lenders Holders of Notes and the Junior Lenderholders of the Senior Indebtedness), be deemed to be a payment by the Obligors Company to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination of this Section 6 are and are intended solely for the purpose of defining the relative rights of the Senior Lenders Holders of Notes on the one hand, hand and the Junior Lender, holders of Senior Indebtedness on the other hand. The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of Indebtedness ranking junior to Senior Indebtedness; provided that the Company will promptly (and in any event within ten (10) Business Days) notify the Holder of the Note in writing as to any such amendment, modification, extension, waiver or other change to the terms of the Senior Indebtedness.

Subrogation, etc. No payment or distribution to the Senior Lenders Agent or any Senior Lender pursuant to the provisions of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Lender Agent and the Junior Lenders shall be subrogated to the rights of the Senior Agent and the Senior Lenders to receive payments or distributions of assets of the Obligors Obligor applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid in full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligors Obligor or by or on behalf of the Junior Lender Lenders by virtue of this Agreement which otherwise would have been made to the Junior Lender Lenders shall, as among the ObligorsObligor, their creditors other than the Senior Lenders and the Junior LenderLenders, be deemed to be payment by the Obligors Obligor to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders on the one hand, and the Junior Agent and the Junior Lender, on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Lenders pursuant to the provisions indefeasible repayment in full in cash of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullDebt, the Junior Lender holders of the Subordinated Debt shall be subrogated to the rights of the holders of Senior Lenders Debt to receive payments or distributions of assets of the Obligors applicable to Borrower made on the Senior Indebtedness Debt until all amounts owing in respect of the Junior Indebtedness Subordinated Debt shall be paid in fullfull and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Debt of any cash, property or on behalf securities to which the holders of the Obligors or by or on behalf Subordinated Debt would be entitled except for the provisions of this Agreement, and no payment pursuant to the Junior Lender by virtue provisions of this Agreement which otherwise would have been made to the Junior Lender holders of Senior Debt, by the holders of the Subordinated Debt, shall, as among between the ObligorsBorrower, their the creditors of the Borrower (other than the holders of Senior Lenders Debt) and the Junior Lenderholders of the Subordinated Debt, be deemed to be a payment by the Obligors Borrower to or on account of the Senior Indebtedness, Debt; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Lenders holders of the Subordinated Debt on the one hand, and the Junior Lender, holders of Senior Debt on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lenders pursuant to the provisions of this Agreement shall entitle the Junior Lender Trustee or the Noteholders to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Lender Noteholders shall be subrogated to the rights of the Senior Lenders to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid Paid in fullFull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligors or by or on behalf of the Junior Lender Trustee or the Noteholders by virtue of this Agreement which otherwise would have been made to the Junior Lender Trustee or the Noteholders shall, as among the Obligors, their creditors other than the Senior Lenders and the Junior LenderTrustee and the Noteholders, be deemed to be payment by the Obligors to or on account of the Trustee or the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lenders on the one hand, and the Junior LenderTrustee and the Noteholders, on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Lenders pursuant to the provisions payment in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullObligations, the Junior Lender holders of the Subordinated Obligations shall be subrogated to the rights of the holders of Senior Lenders Obligations to receive payments or distributions of assets of the Obligors applicable to Borrowers made on the Senior Indebtedness Obligations until all amounts owing in respect of the Junior Indebtedness Subordinated Obligations shall be paid in fullfull and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Obligations of any cash, property or on behalf securities to which the holders of the Obligors or by or on behalf Subordinated Obligations would be entitled except for the provisions of this Agreement, and no payment over pursuant to the Junior Lender by virtue provisions of this Agreement which otherwise would have been made to the Junior Lender holders of Senior Obligations, by the holders of the Subordinated Obligations, shall, as among between the ObligorsBorrowers, their the creditors of the Borrowers (other than the holders of Senior Lenders Obligations) and the Junior Lenderholders of the Subordinated Obligations, be deemed to be a payment by the Obligors Borrowers to or on account of the Senior Indebtedness, Obligations; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Lenders holders of the Subordinated Obligations on the one hand, and the Junior Lender, holders of Senior Obligations on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Lenders pursuant to the provisions payment in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full---------------- Indebtedness, the Junior Lender holders of the Subordinated Indebtedness shall be subrogated to the rights of the holders of Senior Lenders Indebtedness to receive payments or distributions of assets of the Obligors applicable to Credit Parties made on the Senior Indebtedness until all amounts owing in respect of the Junior Subordinated Indebtedness shall be paid in fullfull in cash and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Indebtedness of any cash, property or on behalf securities to which the holders of the Obligors or by or on behalf Subordinated Indebtedness would be entitled except for the provisions of this Agreement, and no payment over pursuant to the Junior Lender by virtue provisions of this Agreement which otherwise would have been made to the Junior Lender holders of Senior Indebtedness, by the holders of the Subordinated Indebtedness, shall, as among between the ObligorsCredit Parties, their the creditors of the Credit Parties (other than the holders of Senior Lenders Indebtedness) and the Junior Lenderholders of the Subordinated Indebtedness, be deemed to be a payment by the Obligors Credit Parties to or on account of the Senior Indebtedness, ; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Lenders holders of the Subordinated Indebtedness on the one hand, and the Junior Lender, holders of Senior Indebtedness on the other hand.

Subrogation, etc. No payment or distribution to the Senior Lenders Lender pursuant to the provisions of this Agreement shall entitle the Junior Lender Creditors to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Lender Creditors shall be subrogated to the rights of the Senior Lenders Lender to receive payments or distributions of assets of the Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid Paid in fullFull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders Lender by or on behalf of the Obligors or by or on behalf of the Junior Lender Creditors by virtue of this Agreement which otherwise would have been made to the Junior Lender Creditors shall, as among the Obligors, their creditors other than the Senior Lenders Lender and the Junior LenderCreditors, be deemed to be payment by the Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Lenders Lender on the one hand, and the Junior LenderCreditors, on the other hand.

Subrogation, etc. No Upon payment or distribution to the Senior Lenders pursuant to the provisions in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullIndebtedness, the Junior Lender holders of Notes shall be subrogated to the rights of the holders of Senior Lenders Indebtedness to receive payments or distributions of assets of the Obligors applicable Company pro rata in proportion to the Senior Indebtedness until all respective amounts then owing in respect to the holders of the Junior Indebtedness shall be paid in full, Notes; and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Indebtedness of any cash, property or on behalf securities to which the holders of Notes would be entitled except for the Obligors or by or on behalf of the Junior Lender by virtue provisions of this Agreement which otherwise would have been made Article V, and no payment over pursuant to such provisions to the Junior Lender holders of Senior Indebtedness, shall, as among between the Obligors, their Company and its creditors (other than the Senior Lenders holders of Notes and the Junior Lenderholders of the Senior Indebtedness), be deemed to be a payment by the Obligors Company to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination of this Article V are and are intended solely for the purpose of defining the relative rights of the Senior Lenders holders of Notes on the one hand, hand and the Junior Lender, holders of Senior Indebtedness on the other hand. The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of Indebtedness ranking junior to Senior Indebtedness.