Common use of Subrogation and Assignment of Rights in Collateral Clause in Contracts

Subrogation and Assignment of Rights in Collateral. In the event that BBH&Co. is required to perform a Buy-In, make any payment of distributions, and/or make any payment of liquidated damages under this Section, or performs an action or makes an advance of any payment due from the Lender to an Approved Borrower or due from the Approved Borrower to the Lender in connection with this Agreement, the Fund agrees that, to the extent of such performance or payment, BBH&Co. shall be subrogated to, and the Fund shall assign, and be deemed to have assigned, to BBH&Co. all of the affected Fund’s rights in, to and against the Borrower in respect of the related loan, any Collateral pledged by the Borrower in respect of such loan (including any letters of credit and the issuers thereof) and all proceeds of such Collateral. In the event that the affected Fund receives or is credited with any payment, benefit or value from or on behalf of the Borrower in respect of rights to which BBH&Co. is subrogated as provided herein, such Fund shall promptly remit or pay to BBH&Co. the same (or, where applicable, its United States dollar equivalent).

Subrogation and Assignment of Rights in Collateral. In the event that BBH&Co. is required to perform a Buy-In, make any payment of distributions, and/or make any payment of liquidated damages under this SectionSection 8, or performs an action or makes an advance of any payment due from the Lender Fund to an Approved Borrower or due from the Approved Borrower to the Lender Fund in connection with this Agreement, the Fund agrees that, to the extent of such said performance or payment, BBH&Co. shall be subrogated to, and the Fund shall assign, and be deemed to have assigned, to BBH&Co. all of the affected Fund’s rights in, to to, and against the Approved Borrower in respect of the related loanLoan, any Collateral pledged transferred by the Approved Borrower in respect of such loan (including any letters of credit and the issuers thereof) said Loan, and all proceeds of such said Collateral. In the event that the affected Fund receives or is credited with any payment, benefit benefit, or value from or on behalf of the Approved Borrower in respect of rights to which BBH&Co. is subrogated as provided herein, such the Fund promptly shall promptly remit or pay to BBH&Co. the same (or, where applicable, its United States the same’s U.S. dollar equivalent).

Subrogation and Assignment of Rights in Collateral. In the event that BBH&Co. is required to perform a Buy-In, make any payment of distributions, and/or make any payment of liquidated damages under this Section, or performs an action or makes an advance of any payment due from the Lender to an Approved Borrower or due from the Approved Borrower to the Lender in connection with this Agreement, the Fund agrees that, to the extent it has been made whole with respect to the loan and to the extent of such BBH&Co’s performance or payment, BBH&Co. shall be subrogated to, and the Fund shall assign, and be deemed to have assigned, to BBH&Co. all of the affected such Fund’s rights in, to and against the Borrower in respect of the related loan, any Collateral pledged by the Borrower in respect of such loan (including any letters of credit and the issuers thereof) and all proceeds of such Collateral. In the event that the affected Fund receives or is credited with any payment, benefit or value from or on behalf of the Borrower in respect of rights to which BBH&Co. is subrogated as provided herein, such the Fund shall promptly remit or pay to BBH&Co. the same (or, where applicable, its United States dollar equivalent).