Common use of Subordination of Subrogation Rights Clause in Contracts

Subordination of Subrogation Rights. Guarantor hereby subordinates to all claims, rights and remedies that Owner or any of Owner's permitted assigns may have against Seller and any claim, right or remedy that Guarantor may now have or hereafter acquire against Seller that arises hereunder or in connection herewith, including any claim, remedy or right of subrogation, reimbursement, indemnity, exoneration, contribution or participation in any claim, remedy or right against Seller that arises in connection herewith, whether or not such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise until the Obligations have been paid and performed in full. If any amount shall erroneously be paid to Guarantor on account of such subrogation, reimbursement, indemnity, exoneration, contribution, and similar rights, such amount shall be held in trust for the benefit of Owner and shall forthwith be paid to Owner to be credited against the payment of the Obligations, whether matured or unmatured.

Subordination of Subrogation Rights. Guarantor hereby subordinates to all claims, rights and remedies that Owner Beneficiary or any of OwnerBeneficiary's permitted assigns may have against Seller and Obligor any claim, right or remedy that Guarantor may now have or hereafter acquire against Seller Obligor that arises hereunder or in connection herewith, including any claim, remedy or right of subrogation, reimbursement, indemnity, exoneration, contribution or participation in any claim, remedy or right against Seller Obligor that arises in connection herewith, whether or not such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise until the Obligations have been paid and performed in full. If any amount shall erroneously be paid to Guarantor on account of such subrogation, reimbursement, indemnity, exoneration, contribution, and similar rights, such amount shall be held in trust for the benefit of Owner Beneficiary and shall forthwith be paid to Owner Beneficiary to be credited against the payment of the Obligations, whether matured or unmatured.