Common use of Assignment and Postponement Clause in Contracts

Assignment and Postponement. All debts and liabilities, present and future, of the Borrower to the Guarantor are hereby assigned to the Lender and postponed to the Obligations, and all money received by the Guarantor in respect thereof following an Event of Default which is continuing shall be held in trust for the Lender and forthwith upon receipt shall be paid over to the Lender, the whole without in any way lessening or limiting the liability of the Guarantor hereunder, and this assignment and postponement is independent of the guarantee contained herein and shall remain in full force and effect until, in the case of the assignment, the liability of the Guarantor under this Guarantee has been discharged or terminated and, in the case of the postponement, until all Obligations are performed and paid in full.

Assignment and Postponement. All Subject to the Credit Agreement, all debts and liabilities, present and future, of the Borrower Obligor to the Guarantor are hereby assigned to the Lender and postponed to the Obligations, and all money received by the Guarantor in respect thereof following an Event of Default which is continuing shall will be held in trust for the Lender and forthwith upon receipt shall will be paid over to the Lender, the whole without in any way lessening or limiting the liability of the Guarantor hereunder, hereunder and this assignment and postponement is independent of the guarantee guarantee, indemnity and primary obligor obligations contained herein in this Guarantee and shall will remain in full force and effect until, in the case of the assignment, the liability of the Guarantor under this Guarantee has been discharged or terminated and, in the case of the postponement, until all Obligations are performed and indefeasibly paid in full.