Common use of Payment of Senior Debt; Subrogation Clause in Contracts

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to Senior Debt until all Senior Subordinated Obligations shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations by reason of such subrogation, of cash, securities or other property that otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated Obligations, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated Obligations.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities Securities or other property that Property which otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated ObligationsDebt.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to Senior Debt until all Senior Subordinated Obligations shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations by reason of such subrogation, of cash, securities or other property that otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated Obligations, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated Obligations.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in fullfull in cash, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities Securities or other property that Property which otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated ObligationsDebt.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities Securities or other property Property that otherwise would be paid or distributed to the holders of Senior Debt, Debt shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated ObligationsDebt.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of all Senior Debt, the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities or other property that otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt Debt, and not on account of Senior Subordinated ObligationsDebt.

Payment of Senior Debt; Subrogation. Upon the payment in full full, in cash or cash equivalents, of all Senior Debt, the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities Securities or other property Property that otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt Debt, and not on account of Senior Subordinated ObligationsDebt.

Payment of Senior Debt; Subrogation. Upon the payment in full in cash of the Senior Debt and the termination of all obligations to lend in respect of such Senior Debt, ,. the holders of Senior Subordinated Obligations Debt shall be subrogated to all rights of any holder of Senior Debt to receive any further payments or distributions applicable to the Senior Debt until all Senior the Subordinated Obligations Debt shall have been paid in full, and such payments or distributions received by the holders of Senior Subordinated Obligations Debt by reason of such subrogation, of cash, securities Securities or other property that Property which otherwise would be paid or distributed to the holders of Senior Debt, shall, as between the Company and its creditors other than the holders of Senior Debt, on the one hand, and the holders of Senior Subordinated ObligationsDebt, on the other hand, be deemed to be a payment by the Company on account of Senior Debt and not on account of Senior Subordinated ObligationsDebt.