Common use of Subrogation, etc Clause in Contracts

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender pursuant to the provisions of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Agent and the Junior Lenders shall be subrogated to the rights of the Senior Agent and the Senior Lenders to receive payments or distributions of assets of the Obligor applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid in full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligor or by or on behalf of the Junior Lenders by virtue of this Agreement which otherwise would have been made to the Junior Lenders shall, as among the Obligor, their creditors other than the Senior Lenders and the Junior Lenders, be deemed to be payment by the Obligor to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders on the one hand, and the Junior Agent and the Junior Lender, on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Agent or any Senior Lender pursuant to the provisions payment in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full---------------- Indebtedness, the Junior Agent and holders of the Junior Lenders Subordinated Indebtedness shall be subrogated to the rights of the holders of Senior Agent and the Senior Lenders Indebtedness to receive payments or distributions of assets of the Obligor applicable to Credit Parties made on the Senior Indebtedness until all amounts owing in respect of the Junior Subordinated Indebtedness shall be paid in fullfull in cash and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Indebtedness of any cash, property or on behalf securities to which the holders of the Obligor or by or on behalf Subordinated Indebtedness would be entitled except for the provisions of this Agreement, and no payment over pursuant to the Junior Lenders by virtue provisions of this Agreement which otherwise would have been made to the Junior Lenders holders of Senior Indebtedness, by the holders of the Subordinated Indebtedness, shall, as among between the ObligorCredit Parties, their the creditors of the Credit Parties (other than the holders of Senior Lenders Indebtedness) and the Junior Lendersholders of the Subordinated Indebtedness, be deemed to be a payment by the Obligor Credit Parties to or on account of the Senior Indebtedness, ; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Agent and holders of the Senior Lenders Subordinated Indebtedness on the one hand, and the Junior Agent and the Junior Lender, holders of Senior Indebtedness on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Agent or any Senior Lender pursuant to the provisions indefeasible repayment in full in cash of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullDebt, the Junior Agent and holders of the Junior Lenders Subordinated Debt shall be subrogated to the rights of the holders of Senior Agent and the Senior Lenders Debt to receive payments or distributions of assets of the Obligor applicable to Borrower made on the Senior Indebtedness Debt until all amounts owing in respect of the Junior Indebtedness Subordinated Debt shall be paid in fullfull and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Debt of any cash, property or on behalf securities to which the holders of the Obligor or by or on behalf Subordinated Debt would be entitled except for the provisions of this Agreement, and no payment pursuant to the Junior Lenders by virtue provisions of this Agreement which otherwise would have been made to the Junior Lenders holders of Senior Debt, by the holders of the Subordinated Debt, shall, as among between the ObligorBorrower, their the creditors of the Borrower (other than the holders of Senior Lenders Debt) and the Junior Lendersholders of the Subordinated Debt, be deemed to be a payment by the Obligor Borrower to or on account of the Senior Indebtedness, Debt; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Agent and holders of the Senior Lenders Subordinated Debt on the one hand, and the Junior Agent and the Junior Lender, holders of Senior Debt on the other hand.

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender Lenders pursuant to the provisions of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Agent and the Junior Lenders Lender shall be subrogated to the rights of the Senior Agent and the Senior Lenders to receive payments or distributions of assets of the Obligor Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid in full, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligor Obligors or by or on behalf of the Junior Lenders Lender by virtue of this Agreement which otherwise would have been made to the Junior Lenders Lender shall, as among the ObligorObligors, their creditors other than the Senior Lenders and the Junior LendersLender, be deemed to be payment by the Obligor Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders on the one hand, and the Junior Agent and the Junior Lender, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender Lenders pursuant to the provisions of this Agreement shall entitle the Junior Lender Trustee or the Noteholders to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Agent and the Junior Lenders Noteholders shall be subrogated to the rights of the Senior Agent and the Senior Lenders to receive payments or distributions of assets of the Obligor Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid Paid in fullFull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders by or on behalf of the Obligor Obligors or by or on behalf of the Junior Lenders Trustee or the Noteholders by virtue of this Agreement which otherwise would have been made to the Junior Lenders Trustee or the Noteholders shall, as among the ObligorObligors, their creditors other than the Senior Lenders and the Junior LendersTrustee and the Noteholders, be deemed to be payment by the Obligor Obligors to or on account of the Trustee or the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders on the one hand, and the Junior Agent Trustee and the Junior LenderNoteholders, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender pursuant to the provisions of this Agreement shall entitle the Junior Lender Creditors to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in Full, the Junior Agent and the Junior Lenders Creditors shall be subrogated to the rights of the Senior Agent and the Senior Lenders Lender to receive payments or distributions of assets of the Obligor Obligors applicable to the Senior Indebtedness until all amounts owing in respect of the Junior Indebtedness shall be paid Paid in fullFull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders Lender by or on behalf of the Obligor Obligors or by or on behalf of the Junior Lenders Creditors by virtue of this Agreement which otherwise would have been made to the Junior Lenders Creditors shall, as among the ObligorObligors, their creditors other than the Senior Lenders Lender and the Junior LendersCreditors, be deemed to be payment by the Obligor Obligors to or on account of the Senior Indebtedness, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders Lender on the one hand, and the Junior Agent and the Junior LenderCreditors, on the other hand.

Subrogation, etc. No payment or distribution to the Senior Agent or any Senior Lender Noteholders pursuant to the provisions of this Agreement shall entitle the any Junior Lender Obligee to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness Obligations shall have been Paid in Full. After the Senior Indebtedness Obligations has been Paid in Full, the Junior Agent and the Junior Lenders Obligees shall be subrogated to the rights of the Senior Agent and the Senior Lenders Noteholders to receive payments or distributions of assets of the Obligor Company applicable to the Senior Indebtedness Obligations until all amounts owing in respect of the Junior Indebtedness Obligations shall be paid Paid in fullFull, and for the purpose of such subrogation, no such payments or distributions to the Senior Lenders Noteholders by or on behalf of the Obligor Company or by or on behalf of the Junior Lenders Obligees by virtue of this Agreement which otherwise would have been made to the Junior Lenders Obligees shall, as among the ObligorCompany, their creditors other than the Senior Lenders Noteholders and the Junior LendersObligees, be deemed to be payment by the Obligor Company to or on account of the Senior IndebtednessObligations, it being understood that the above provisions relating to subordination are solely for the purpose of defining the relative rights of the Senior Agent and the Senior Lenders Noteholders on the one hand, and the Junior Agent and the Junior LenderObligees, on the other hand.

Subrogation, etc. No payment or distribution Subject to the Senior Agent or any Senior Lender pursuant to the provisions payment in full of this Agreement shall entitle the Junior Lender to exercise any rights of subrogation, contribution, reimbursement or indemnity in respect thereof until all Senior Indebtedness shall have been Paid in Full. After the Senior Indebtedness has been Paid in FullObligations, the Junior Agent and holders of the Junior Lenders Subordinated Obligations shall be subrogated to the rights of the holders of Senior Agent and the Senior Lenders Obligations to receive payments or distributions of assets of the Obligor applicable to Borrowers made on the Senior Indebtedness Obligations until all amounts owing in respect of the Junior Indebtedness Subordinated Obligations shall be paid in fullfull and, and for the purpose purposes of such subrogation, no such payments or distributions to the holders of Senior Lenders by Obligations of any cash, property or on behalf securities to which the holders of the Obligor or by or on behalf Subordinated Obligations would be entitled except for the provisions of this Agreement, and no payment over pursuant to the Junior Lenders by virtue provisions of this Agreement which otherwise would have been made to the Junior Lenders holders of Senior Obligations, by the holders of the Subordinated Obligations, shall, as among between the ObligorBorrowers, their the creditors of the Borrowers (other than the holders of Senior Lenders Obligations) and the Junior Lendersholders of the Subordinated Obligations, be deemed to be a payment by the Obligor Borrowers to or on account of the Senior Indebtedness, Obligations; it being understood that the above provisions relating to subordination of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Agent and holders of the Senior Lenders Subordinated Obligations on the one hand, and the Junior Agent and the Junior Lender, holders of Senior Obligations on the other hand.