Common use of Subordination of Subrogation, Etc Clause in Contracts

Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.7, each Borrower hereby expressly and irrevocably subordinates to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver is intended to benefit Lender and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 11, and that Lender and its successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Cd Warehouse Inc)

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Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- contrary in this Agreement or in any of the other Loan DocumentDocuments, and except as set forth in Section 11.713.7, each Borrower Borrowers hereby expressly and irrevocably subordinates to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cashfull. Each Borrower acknowledges of the Borrowers acknowledge and agrees agree that this waiver subordination is intended to benefit Lender Bank and shall not limit or otherwise affect such Borrower's Borrowers’ liability hereunder or the enforceability of this Section 1113, and that Lender Bank and its successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.413.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Lifeway Foods Inc)

Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.7SECTION 14.10, each Borrower hereby expressly and irrevocably subordinates to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver subordination is intended to benefit Lender and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 11SECTION 14, and that Lender and its successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.4SECTION 14.7.

Appears in 1 contract

Samples: Credit and Security Agreement (Unapix Entertainment Inc)

Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- --------------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.7, each Borrower hereby expressly and irrevocably subordinates to the payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver is intended to benefit Lender and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 11, and that Lender and its successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Nutrition for Life International Inc)

Subordination of Subrogation, Etc. (a) Notwithstanding anything to the ---------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.7SECTION 12.7, each Borrower hereby expressly and irrevocably subordinates to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver subordination is intended to benefit Lender Agents and Lenders and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 11SECTION 12, and that Lender Agents, Lenders and its their respective successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.4SECTION 12.4.

Appears in 1 contract

Samples: Credit Agreement (Hi Rise Recycling Systems Inc)

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Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- --------------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.712.7, each Borrower hereby expressly and irrevocably ------------ subordinates to payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver subordination is intended to benefit Lender and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 1112, and that Lender and its successors and assigns are intended third ---------- party beneficiaries of the waivers and agreements set forth in this Section 11.4.------- 12.4. -----

Appears in 1 contract

Samples: Credit Agreement (Intercept Group Inc)

Subordination of Subrogation, Etc. Notwithstanding anything to the ---------------------------- ---------------------------------- contrary in this Agreement or in any other Loan Document, and except as set forth in Section 11.7, each Borrower hereby expressly and irrevocably subordinates to the payment of the Obligations any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor until the Obligations are indefeasibly paid in full in cash. Each Borrower acknowledges and agrees that this waiver is intended to benefit Lender and shall not limit or otherwise affect such Borrower's liability hereunder or the enforceability of this Section 11, and that Lender and its successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 11.4.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Nutraceuticals Inc/Tx)

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