Common use of Postponement of Subrogation Clause in Contracts

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 16 contracts

Samples: Guaranty and Suretyship Agreement (VerifyMe, Inc.), Guaranty Agreement (Environmental Tectonics Corp), Guaranty Agreement (Miscor Group, Ltd.)

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Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s 's assets.

Appears in 3 contracts

Samples: Guaranty and Suretyship Agreement (Spar Group Inc), Security Agreement (Media Sciences International Inc), Guaranty and Suretyship Agreement (Media Sciences International Inc)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank Agent or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s 's assets.

Appears in 3 contracts

Samples: Guaranty and Suretyship Agreement (Hudson Technologies Inc /Ny), Guaranty and Suretyship Agreement (Berliner Communications Inc), Guaranty and Suretyship Agreement (Hudson Technologies Inc /Ny)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank Agent or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 2 contracts

Samples: Credit and Security Agreement (Walker & Dunlop, Inc.), Guaranty and Suretyship Agreement (Walker & Dunlop, Inc.)

Postponement of Subrogation. Until the Guarantied Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones Guarantors postpone and subordinates subordinate in favor of the Bank or its designee (and any assignee or potential assignee) any and all rights which the Guarantor Guarantors may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Guarantied Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 2 contracts

Samples: Credit Agreement (EPAM Systems, Inc.), Guaranty and Suretyship Agreement (EPAM Systems, Inc.)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank Lender or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 2 contracts

Samples: Credit and Security Agreement (Walker & Dunlop, Inc.), Guaranty and Suretyship Agreement (Walker & Dunlop, Inc.)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank Lender or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, reimbursement or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, hereunder and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 1 contract

Samples: Guaranty (MYnd Analytics, Inc.)

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Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank or its designee (and any assignee or potential assignee) any and all rights which the Guarantor Guarantors may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 1 contract

Samples: Guaranty and Suretyship Agreement (New Horizons Worldwide Inc)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank PNCEF or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower Obligor based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the BorrowerObligor, including participation in any marshalling of the Borrower’s Obligor's assets.

Appears in 1 contract

Samples: Guaranty and Suretyship (Integrated Biopharma Inc)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in fullfull (other than contingent indemnification obligations for which no claim has been made), expire, are terminated and are not subject to any right of revocation or rescission, the each Guarantor postpones and subordinates in favor of the Bank or its designee (and any assignee or potential assignee) Purchaser any and all rights which the such Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, hereunder and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s assets.

Appears in 1 contract

Samples: Guaranty Agreement (FaceBank Group, Inc.)

Postponement of Subrogation. Until the Obligations are indefeasibly paid in full, expire, are terminated and are not subject to any right of revocation or rescission, the Guarantor postpones and subordinates in favor of the Bank or its designee (and any assignee or potential assignee) any and all rights which the Guarantor may have to (a) assert any claim whatsoever against the Borrower based on subrogation, exoneration, reimbursement, or indemnity or any right of recourse to security for the Obligations with respect to payments made hereunder, and (b) any realization on any property of the Borrower, including participation in any marshalling of the Borrower’s 's assets.. Form 9A - DE/PA/MD (COJ) Rev. 2/14

Appears in 1 contract

Samples: Credit Agreement (Handy & Harman Ltd.)

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