Common use of Each U Clause in Contracts

Each U. S. Borrower hereby agrees that it will not enforce any of its rights of contribution or subrogation against any other Borrower with respect to any liability incurred by it hereunder or under any of the other Loan Documents, any payments made by it to the Administrative Agent or the U.S. Revolving Lenders with respect to any of the U.S. Finance Obligations or any collateral security therefor until such time as all of the Finance Obligations have been paid in full in cash. Any claim which any Borrower may have against any other Borrower with respect to any payments to any the Administrative Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the obligations arising hereunder or thereunder, to the prior payment in full in cash of the U.S. Finance Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding under the laws of any jurisdiction relating to any U.S. Borrower, its debts or its assets, whether voluntary or involuntary, all such U.S. Finance Obligations shall be paid in full in cash before any payment or distribution of any character, whether in cash, securities or other property, shall be made to any other U.S. Borrower therefor.

Appears in 3 contracts

Samples: Revolving Credit Agreement (JELD-WEN Holding, Inc.), Credit Agreement (JELD-WEN Holding, Inc.), Credit Agreement (JELD-WEN Holding, Inc.)

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Each U. S. Borrower hereby agrees that it will not enforce any of its rights of contribution or subrogation against any other Borrower with respect to any liability incurred by it hereunder or under any of the other Loan Documents, any payments made by it to the Administrative Agent or the U.S. Revolving Lenders with respect to any of the U.S. Finance Obligations or the U.K. Obligations or any collateral security therefor until such time as all of the Finance U.S. Obligations and the U.K. Obligations have been paid in full in cash. Any claim which any U.S. Borrower may have against any other Borrower with respect to any payments to any the Administrative Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements other Loan Documents are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the obligations U.S. Obligations or the U.K. Obligations arising hereunder or thereunder, to the prior payment in full in cash of the U.S. Finance Obligations and the U.K. Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding under the laws Laws of any jurisdiction relating to any U.S. BorrowerLoan Party, its debts or its assets, whether voluntary or involuntary, all such U.S. Finance Obligations and the U.K. Obligations shall be paid in full in cash before any payment or distribution of any character, whether in cash, securities or other property, shall be made to any other U.S. Borrower Loan Party therefor.

Appears in 2 contracts

Samples: Credit Agreement (Take Two Interactive Software Inc), Credit Agreement (Take Two Interactive Software Inc)

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Each U. S. Borrower hereby agrees that it will not enforce any of its rights of contribution or subrogation against any other Borrower Borrowers with respect to any liability incurred by it hereunder or under any of the other Loan Documents, any payments made by it to the Administrative Agent or the U.S. Revolving Lenders with respect to any of the U.S. Finance Obligations or the U.K. Obligations or any collateral security therefor until such time as all of the Finance U.S. Obligations and the U.K. Obligations have been paid in full in cash. Any claim which any U.S. Borrower may have against any other Borrower with respect to any payments to any the Administrative Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements other Loan Documents are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the obligations U.S. Obligations or the U.K. Obligations arising hereunder or thereunder, to the prior payment in full in cash of the U.S. Finance Obligations and the U.K. Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding under the laws of any jurisdiction relating to any U.S. BorrowerLoan Party, its debts or its assets, whether voluntary or involuntary, all such U.S. Finance Obligations and U.K. Obligations shall be paid in full in cash before any payment or distribution of any character, whether in cash, securities or other property, shall be made to any other U.S. Borrower Loan Party therefor.

Appears in 1 contract

Samples: Credit Agreement (MSX International Inc)

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