Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 151 contracts
Sources: Preferred Securities Guarantee Agreement, Preferred Securities Guarantee Agreement (Allstate Financing X), Preferred Securities Guarantee Agreement (Valley National Bancorp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 126 contracts
Sources: Guarantee Agreement (Everest Re Group LTD), Guarantee Agreement (Susquehanna Bancshares Inc), Guarantee Agreement (Susquehanna Capital IV)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, howeverthat, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 95 contracts
Sources: Guarantee Agreement (Paragon Commercial CORP), Guarantee Agreement (Entegra Financial Corp.), Guarantee Agreement (Wilshire Bancorp Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 78 contracts
Sources: Preferred Securities Guarantee Agreement, Preferred Securities Guarantee Agreement (St. Paul Travelers Capital Trust IV), Preferred Securities Guarantee Agreement (Laclede Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 72 contracts
Sources: Convertible Preferred Securities Guarantee Agreement (Bridge Bancorp Inc), Preferred Securities Guarantee Agreement (Independent Bank Corp /Mi/), Preferred Securities Guarantee Agreement (Capitol Trust Xv)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 48 contracts
Sources: Capital Securities Guarantee Agreement (Citigroup Inc), Capital Securities Guarantee Agreement (Citigroup Capital XXII), Capital Securities Guarantee Agreement (Citigroup Capital XXII)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of the Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 23 contracts
Sources: Preferred Securities Guarantee Agreement (Itla Capital Corp), Preferred Securities Guarantee Agreement (S.Y. Bancorp Capital Trust II), Preferred Securities Guarantee Agreement (Itla Capital Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Series A Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Series A Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Series A Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 22 contracts
Sources: Series a Capital Securities Guarantee Agreement (First Keystone Financial Inc), Series a Capital Securities Guarantee Agreement (Safeco Corp), Series a Capital Securities Guarantee Agreement (Agl Resources Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Trust pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 22 contracts
Sources: Guarantee Agreement (Silicon Valley Bancshares), Guarantee Agreement (Bancfirst Corp /Ok/), Guarantee Agreement (Bancfirst Corp /Ok/)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Series B Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Series B Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Series B Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 20 contracts
Sources: Capital Securities Guarantee Agreement (Yardville Capital Trust Ii), Series B Capital Securities Guarantee Agreement (Comed Financing Ii), Series B Capital Securities Guarantee Agreement (Investors Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 20 contracts
Sources: Guarantee Agreement (Southwest Gas Corp), Guarantee Agreement (Southwest Gas Corp), Guarantee Agreement (Pseg Power Capital Trust V)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 19 contracts
Sources: Preferred Securities Guarantee Agreement (Circus Finance Ii), Preferred Securities Guarantee Agreement (Xl Capital LTD), Preferred Securities Guarantee Agreement (Unionbancal Finance Trust Iv)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Trust Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Trust Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Trust Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Trust Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 15 contracts
Sources: Trust Preferred Securities Guarantee Agreement (Capita Preferred Trust), Guarantee Agreement (KBK Capital Trust I), Trust Preferred Securities Guarantee Agreement (Uds Funding Ii Lp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities TARGETS against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities TARGETS Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities TARGETS Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities TARGETS Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 15 contracts
Sources: Guarantee Agreement (Targets Trust Xvii), Guarantee Agreement (Citigroup Inc), Guarantee Agreement (Targets Trusts Vi)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 15 contracts
Sources: Guarantee Agreement (Actuant CORP Capital Trust II), Guarantee Agreement (Burlington Resources Finance Co), Guarantee Agreement (Burlington Resources Finance Co)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 14 contracts
Sources: Common Securities Guarantee Agreement (Sovereign Bancorp Inc), Common Securities Guarantee Agreement (Sovereign Bancorp Inc), Common Securities Guarantee Agreement (Dynegy Capital Trust Ii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Series B Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Series B Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Series B Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Series B Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 14 contracts
Sources: Capital Securities Guarantee Agreement (Markel Corp), Series B Capital Securities Guarantee Agreement (CNBF Capital Trust I), Series B Capital Securities Guarantee Agreement (Sky Financial Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, ifGuarantee Agreement, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 12 contracts
Sources: Guarantee Agreement (Sierra Pacific Resources Capital Trust Ii), Guarantee Agreement (Lincoln National Capital Vi), Guarantee Agreement (Republic New York Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, Guarantee Agreement if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 11 contracts
Sources: Guarantee Agreement (Lincoln National Corp), Guarantee Agreement (Lincoln National Corp), Guarantee Agreement (Lincoln National Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required -------- ------- by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 11 contracts
Sources: Preferred Securities Guarantee Agreement (Tci Communications Financing Iv), Preferred Securities Guarantee Agreement (Tci Communications Financing Iv), Preferred Securities Guarantee Agreement (Tci Communications Financing Iv)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required -------- ------- by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 10 contracts
Sources: Common Securities Guarantee Agreement (Tci Communications Financing Iv), Common Securities Guarantee Agreement (Tci Communications Financing Vi), Common Securities Guarantee Agreement (Tci Communications Financing Vi)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 10 contracts
Sources: Preferred Securities Guarantee Agreement (Viatel Inc), Preferred Securities Guarantee Agreement (Local Financial Capital Trust I), Preferred Securities Guarantee Agreement (Second Bancorp Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 10 contracts
Sources: Common Securities Guarantee Agreement (Protective Life Corp), Common Securities Guarantee Agreement (Northern States Power Co), Common Securities Guarantee Agreement (Laclede Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 9 contracts
Sources: Preferred Securities Guarantee Agreement (Conseco Financing Trust Vii), Preferred Securities Guarantee Agreement (Owens Corning Capital Ii), Preferred Securities Guarantee Agreement (Cendant Capital Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 9 contracts
Sources: Capital Securities Guarantee Agreement (First Financial Capital Trust II), Capital Securities Guarantee Agreement (First Financial Capital Trust II), Capital Securities Guarantee Agreement (Great Southern Capital Trust IV)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Preferred Guarantee Trustee for the benefit of the Holders.
Appears in 9 contracts
Sources: Preferred Securities Guarantee Agreement (Conseco Inc Et Al), Guarantee Agreement (Conseco Inc), Preferred Securities Guarantee Agreement (Conseco Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Trust Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Trust Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Trust Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 9 contracts
Sources: Trust Preferred Securities Guarantee Agreement (San Rafael Bancorp), Trust Preferred Securities Guarantee Agreement (Alabama National Bancorporation), Trust Preferred Securities Guarantee Agreement (Westcoast Hospitality Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Trust Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Trust Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Trust Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Trust Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 9 contracts
Sources: Trust Preferred Securities Guarantee Agreement (American Equity Investment Life Holding Co), Trust Preferred Securities Guarantee Agreement (American Equity Investment Life Holding Co), Trust Preferred Securities Guarantee Agreement (Prosperity Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 9 contracts
Sources: Guarantee Agreement (Public Service Co of Colorado), Guarantee Agreement (Scottish Annuity & Life Holdings LTD), Guarantee Agreement (Nationwide Financial Services Inc/)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 8 contracts
Sources: Preferred Securities Guarantee Agreement (MetLife Capital Trust V), Preferred Securities Guarantee Agreement (Cccisg Capital Trust), Preferred Securities Guarantee Agreement (Metlife Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid or property delivered to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount or property in trust for the Holders and to pay over such amount or deliver such property to the HoldersHolders entitled thereto.
Appears in 8 contracts
Sources: Preferred Securities Guarantee Agreement (Dte Energy Co), Preferred Securities Guarantee Agreement (Apache Corp), Preferred Securities Guarantee Agreement (Dte Energy Co)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 7 contracts
Sources: Common Securities Guarantee Agreement (Delphi Financial Group Inc/De), Common Securities Guarantee Agreement (Coastal Corp), Common Securities Guarantee Agreement (Xl Capital LTD)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Trust Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Trust Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Trust Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 7 contracts
Sources: Trust Preferred Securities Guarantee Agreement (Vineyard Statutory Trust X), Guarantee Agreement (R&g Financial Corp), Trust Preferred Securities Guarantee Agreement (Independent Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (all, if any) , rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 7 contracts
Sources: Preferred Securities Guarantee Agreement (Designer Holdings LTD), Preferred Securities Guarantee Agreement (Finova Finance Trust), Preferred Securities Guarantee Agreement (Finova Finance Trust)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 7 contracts
Sources: Common Securities Guarantee Agreement (Circus Finance Ii), Common Securities Guarantee Agreement (Circus Finance Ii), Common Securities Guarantee Agreement (Fleetwood Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer CFB Capital in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 6 contracts
Sources: Capital Securities Guarantee Agreement (Community First Bankshares Inc), Capital Securities Guarantee Agreement (Community First Bankshares Inc), Capital Securities Guarantee Agreement (Community First Bankshares Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred the Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 6 contracts
Sources: Common Securities Guarantee Agreement (Nn Inc), Common Securities Guarantee Agreement (Hawthorne Financial Corp), Common Securities Guarantee Agreement (Nara Bancorp Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer Trust pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 6 contracts
Sources: Guarantee Agreement (Schwab Capital Trust Ii), Guarantee Agreement (Mellon Financial Corp), Guarantee Agreement (State Street Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Trust pursuant to section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Guarantee Agreement (Us Home & Garden Trust I), Guarantee Agreement (Easy Gardener Products LTD), Guarantee Agreement (Us Home & Garden Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities TECONS against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Preferred Securities Guarantee Agreement (Nuevo Energy Co), Preferred Securities Guarantee Agreement (Nuevo Energy Co), Preferred Securities Guarantee Agreement (Wendys International Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeTrust Guarantee and shall have the right to waive payment by the Trust pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Trust Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Trust Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Trust Guarantee Agreement (Hawaiian Electric Co Inc), Trust Guarantee Agreement (Maui Electric Co LTD), Trust Guarantee Agreement (Heco Capital Trust Ii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Guarantor Trustee for the benefit of the Holders.
Appears in 5 contracts
Sources: Guarantee Agreement (HPT Capital Trust I), Guarantee Agreement (SNH Nebraska Inc), Guarantee Agreement (Senior Housing Properties Trust)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer LLC in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the LLC pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders of the Company Preferred Securities and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Guarantee Agreement (Teco Energy Inc), Guarantee Agreement (Teco Energy Inc), Guarantee Agreement (Teco Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, -------- however, that the Guarantor shall not (except to the extent required by ------- mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, indemnity reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Preferred Securities Guarantee Agreement (Great Western Financial Trust Iii), Preferred Securities Guarantee Agreement (Great Western Financial Trust I /De/), Preferred Securities Guarantee Agreement (Great Western Financial Trust I /De/)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to of the Holders.
Appears in 5 contracts
Sources: Common Securities Guarantee Agreement (Allegheny Energy Inc), Common Securities Guarantee Agreement (Allegheny Energy Inc), Common Securities Guarantee Agreement (Allegheny Energy Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Series A Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Series A Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Series A Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Series A Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 5 contracts
Sources: Series a Capital Securities Guarantee Agreement (Advanta Corp), Series a Capital Securities Guarantee Agreement (Hamilton Capital Trust I), Capital Securities Guarantee Agreement (Cascade Financial Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, Guarantee Agreement if, at the time of any such payment, payment any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Guarantee Agreement (Republic New York Capital Iv), Guarantee Agreement (Republic New York Capital I), Junior Subordinated Indenture (Republic New York Capital Iv)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Guarantee Agreement (Guaranty Capital Trust I), Guarantee Agreement (Southern Financial Capital Trust I), Guarantee Agreement (Highlands Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities the Junior Subordinated Notes against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of applicable law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders of the Junior Subordinated Notes and to pay over such amount to the such Holders.
Appears in 4 contracts
Sources: Junior Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.), Junior Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.), Junior Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Trust Common Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Trust Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Trust Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Trust Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Trust Common Securities Guarantee Agreement, Trust Common Securities Guarantee Agreement (American Equity Investment Life Holding Co), Trust Common Securities Guarantee Agreement (American Equity Investment Life Holding Co)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Trust pursuant to Section 5.1; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Guarantee Agreement (Pacific Crest Capital Inc), Guarantee Agreement (Silicon Valley Bancshares), Guarantee Agreement (PCC Capital I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 501; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Guarantee Agreement (Southwestern Electric Power Co), Guarantee Agreement (Central Power & Light Co /Tx/), Guarantee Agreement (Public Service Co of Oklahoma)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities the Subordinated Notes against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of applicable law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders of the Subordinated Notes and to pay over such amount to the such Holders.
Appears in 4 contracts
Sources: Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.), Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.), Subordinated Debt Securities Guarantee Agreement (RenaissanceRe Finance Inc.)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Trust Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Trust Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Trust Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 4 contracts
Sources: Guarantee Agreement (Affiliated Managers Group Inc), Guarantee Agreement (Boston Private Financial Holdings Inc), Guarantee Agreement (Affiliated Managers Group Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Guarantee Agreement (North Fork Bancorporation Inc), Guarantee Agreement (North Fork Bancorporation Inc), Guarantee Agreement (Bancorpsouth Inc)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities the Notes against the Issuer Company in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeSupplemental Indenture; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeSupplemental Indenture, if, at the time of any such payment, any amounts are due and unpaid outstanding under this Preferred Securities GuaranteeSupplemental Indenture. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the benefit of the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Supplemental Indenture (Transamerica Finance Corp), Supplemental Indenture (Transamerica Finance Corp), Supplemental Indenture (Transamerica Finance Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred the Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Common Securities Guarantee Agreement (Bfoh Capital Trust I), Common Securities Guarantee Agreement (BFD Preferred Capital Trust Ii), Common Securities Guarantee Agreement (Sky Financial Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, -------- however, that the Guarantor shall not (except to the extent required by ------- mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Capital Securities Guarantee Agreement (Westbank Capital Trust I), Capital Securities Guarantee Agreement (NHTB Capital Trust I), Capital Securities Guarantee Agreement (GBB Capital V)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to of the Holders.
Appears in 3 contracts
Sources: Common Securities Guarantee Agreement (Travelers Capital Trust V), Common Securities Guarantee Agreement (St. Paul Travelers Capital Trust IV), Common Securities Guarantee Agreement (St Paul Capital Trust Ii)
Subrogation. The Guarantor shall be subrogated to all rights (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Guarantee Agreement (First Niagara Financial Group Inc), Guarantee Agreement (Regions Financing Trust Iii), Guarantee Agreement (Regions Financing Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Capital Securities GuaranteeGuarantee and shall have the right to waive payment by the Trust pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Capital Securities Guarantee Agreement (Downey Financial Capital Trust Iii), Capital Securities Guarantee Agreement (Downey Financial Corp), Capital Securities Guarantee Agreement (Downey Financial Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust and the Bank in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Securities Guarantee Agreement (RBC Centura Banks Inc), Preferred Securities Guarantee Agreement (RBC Centura Banks Inc), Preferred Securities Guarantee Agreement (RBC Centura Banks Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Securities Guarantee Agreement (Washington Water Power Capital Iii), Securities Guarantee Agreement (Washington Water Power Capital Iii), Securities Guarantee Agreement (Washington Water Power Capital Iii)
Subrogation. The Guarantor shall be subrogated to all (all, if any) , rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Partnership Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Partnership Securities Guarantee, if, at the time of any such payment, any amounts of Guarantee Payments are due and unpaid under this Preferred Partnership Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Partnership Securities Guarantee (Txu Europe Funding I L P), Preferred Partnership Securities Guarantee (Txu Europe Funding I L P), Preferred Partnership Securities Guarantee Agreement (Texas Utilities Co /Tx/)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer Air T Funding in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Capital Securities Guarantee Agreement (Air T Inc), Capital Securities Guarantee Agreement (Air T Funding), Capital Securities Guarantee Agreement (Air T Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Securities Guarantee Agreement (Allegheny Energy Inc), Preferred Securities Guarantee Agreement (Allegheny Energy Inc), Preferred Securities Guarantee Agreement (Allegheny Energy Inc)
Subrogation. The Additional Guarantor shall be subrogated to all rights (if any) rights of the Holders of Preferred Securities against the Issuer Trust and the Original Guarantor in respect of any amounts paid to such Holders by the Additional Guarantor under this Preferred Securities GuaranteeAgreement; provided, however, that the Additional Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeAgreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeAgreement. If any amount shall be paid to the Additional Guarantor in violation of the preceding sentence, the Additional Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Guarantee Agreement (At&t Broadband LLC), Guarantee of Preferred Securities Guarantee (At&t Broadband LLC), Guarantee Agreement (At&t Broadband LLC)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Securities Guarantee Agreement (Mediaone Finance Trust Ii), Preferred Securities Guarantee Agreement (Mediaone Finance Trust Vi), Preferred Securities Guarantee Agreement (Mediaone Finance Trust Ii)
Subrogation. The Guarantor shall be subrogated to all (all, if any) , rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Trust Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Trust Securities Guarantee, if, at the time of any such payment, any amounts of Guarantee Payments are due and unpaid under this Preferred Trust Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Trust Securities Guarantee Agreement (Texas Utilities Co /Tx/), Preferred Trust Securities Guarantee (Txu Europe Funding I L P), Preferred Trust Securities Guarantee (Txu Europe Funding I L P)
Subrogation. The Guarantor shall be subrogated to all (if any) ----------- rights of the Holders of the Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 3 contracts
Sources: Preferred Securities Guarantee Agreement (Abc Bancorp Capital Trust I), Preferred Securities Guarantee Agreement (Ctbi Preferred Capital Trust Ii), Preferred Securities Guarantee Agreement (Abc Bancorp Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Spectrum Capital in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (Spectrum Capital Trust Ii), Preferred Securities Guarantee Agreement (Spectrum Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (Prudential Financial Capital Trust Ii), Preferred Securities Guarantee Agreement (Prudential Financial Capital Trust Ii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the -------- ------- Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Common Securities Guarantee Agreement (Allmerica Financial Corp), Common Securities Guarantee Agreement (Investors Financial Services Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Vib Corp), Guarantee Agreement (Bnccorp Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Trust Preferred Securities Guarantee; provided, however, -------- ------- that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Trust Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Trust Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Trust Preferred Securities Guarantee Agreement (East West Bancorp Capital Trust I), Guarantee Agreement (Sandy Spring Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all rights (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeAgreement and shall have the right to waive payment by the Issuer pursuant to Section 5.1; provided, however, that the Guarantor shall not -------- ------- (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeAgreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeAgreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Senior Guarantee Agreement (Adelphia Communications Corp), Subordinated Guarantee Agreement (Adelphia Communications Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Convertible Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Convertible Preferred Securities Guarantee Agreement (Citizens Utilities Capital L P), Convertible Preferred Securities Guarantee Agreement (Citizens Utilities Capital L P)
Subrogation. The Additional Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust and the Original Guarantor in respect of any amounts paid to such the Holders by the Additional Guarantor under this Preferred Securities GuaranteeAgreement; provided, however, that the Additional Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeAgreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeAgreement. If any amount shall be paid to the Additional Guarantor in violation of the preceding sentence, the Additional Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Time Warner Companies Inc), Guarantee Agreement (Time Warner Companies Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (Federal Mogul Financing Trust), Preferred Securities Guarantee Agreement (K N Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Trust pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Fresenius Medical Care Corp), Guarantee Agreement (Fresenius Medical Care Corp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred the Common Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required -------- ------- by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Common Securities Guarantee Agreement (GBB Capital V), Common Securities Guarantee Agreement (Greater Bay Bancorp)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.,
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (MCN Corp), Preferred Securities Guarantee Agreement (MCN Financing Iv)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Trust Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Trust Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Trust Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Trust Common Securities Guarantee Agreement (Westcoast Hospitality Corp), Trust Common Securities Guarantee Agreement (Westcoast Hospitality Capital Trust)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, provided that the Guarantor shall not (except to the extent required by mandatory provisions of applicable law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Cox Communications Inc /De/), Guarantee Agreement (Mutual Risk Management LTD)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Trust pursuant to Section 5.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Countrywide Financial Corp), Guarantee Agreement (WSFS Financial Corp)
Subrogation. The Guarantor shall be subrogated to all (if ----------- any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to -------- ------- the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (Torchmark Corp), Preferred Securities Guarantee Agreement (Torchmark Corp)
Subrogation. The Guarantor shall be subrogated to all (all, if any) , rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Convertible Preferred Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Convertible Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Convertible Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Convertible Preferred Securities Guarantee Agreement (Sun Healthcare Group Inc), Convertible Preferred Securities Guarantee Agreement (Sun Healthcare Group Inc)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Partnership Preferred Securities against the Issuer Citizens Capital in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Partnership Preferred Securities Guarantee Agreement (Citizens Utilities Capital L P), Partnership Preferred Securities Guarantee Agreement (Citizens Utilities Capital L P)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Capital Guarantee Trustee for the benefit of the Holders.
Appears in 2 contracts
Sources: Capital Securities Guarantee Agreement (Conseco Inc Et Al), Capital Securities Guarantee Agreement (Conseco Inc Et Al)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to SECTION 5.1; providedPROVIDED, howeverthat, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Uici), Guarantee Agreement (Uici)
Subrogation. The Guarantor shall be subrogated to all rights (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, ifGuarantee Agreement, at the time of any such payment, any amounts are due and unpaid under this Guarantee Agreement or any payments are due to the holders of Trust Preferred Securities Guaranteeunder the Trust Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Trust Preferred Securities Guarantee Agreement (GW Capital Trust II), Common Securities Guarantee Agreement (GW Capital Trust II)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 501; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Southwestern Electric Power Co), Guarantee Agreement (Central Power & Light Co /Tx/)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Common Securities Guarantee Agreement (Downey Financial Corp), Common Securities Guarantee Agreement (Southern Investments Uk Capital Trust I)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 501; provided, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Guarantee Agreement (Nevada Power Co), Guarantee Agreement (Nevada Power Co)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions provi- sions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Preferred Securities Guarantee Agreement (International Paper Capital Trust Iii), Preferred Securities Guarantee Agreement (International Paper Capital Trust Iii)
Subrogation. The Guarantor shall be subrogated to all (rights, if any) rights , of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Common Securities GuaranteeGuarantee and shall have the right to waive payment by the Issuer pursuant to Section 2.1; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Common Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Common Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Common Securities Guarantee Agreement (Prudential Financial Capital Trust Ii), Common Securities Guarantee Agreement (Prudential Financial Capital Trust Ii)
Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Capital Securities against the Issuer in respect of any amounts paid to such Holders by the Guarantor under this Preferred Capital Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Capital Securities Guarantee, if, at the time of any such payment, any amounts are due and unpaid under this Preferred Capital Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 2 contracts
Sources: Capital Securities Guarantee Agreement (Zenith National Insurance Corp), Capital Securities Guarantee Agreement (MDC Holdings Inc)
Subrogation. The Guarantor shall be subrogated to all (if anyany ) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
Appears in 1 contract
Subrogation. The Guarantor shall be subrogated to all ----------- (if any) rights of the Holders of Preferred Securities against the Issuer in respect of any amounts paid to such the Holders by the Guarantor under this Preferred Securities GuaranteeGuarantee Agreement and shall have the right to waive payment by the Issuer pursuant to Section 5.01; provided, -------- however, that the Guarantor shall not (except to the extent required by ------- mandatory provisions of law) be entitled to enforce or exercise any right rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities GuaranteeGuarantee Agreement, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities GuaranteeGuarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
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Subrogation. The Guarantor shall be subrogated to all (if any) rights of the Holders of Preferred Securities against the Issuer Trust in respect of any amounts paid to such Holders by the Guarantor under this Preferred Securities Guarantee; providedPROVIDED, howeverHOWEVER, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Preferred Securities Guarantee, if, if at the time of any such payment, any amounts are due and unpaid under this Preferred Securities Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders.
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Sources: Preferred Securities Guarantee Agreement (Vanstar Financing Trust)