Common use of Subrogation; Marshalling Clause in Contracts

Subrogation; Marshalling. Noteholder Creditors shall not be subrogated to, or be entitled to any assignment of any Senior Debt or Noteholder Debt or of any Collateral or guarantees or evidence of any thereof until payment in full of the Senior Debt. Each Noteholder Creditor hereby waives any and all rights to have any Collateral or any part thereof granted to any Senior Creditor marshalled upon any foreclosure or other disposition of such collateral by any Senior Creditor or Debtor.

Subrogation; Marshalling. Noteholder Creditors shall not be subrogated to, or be entitled to any assignment of any Senior Debt or Noteholder Debt or of any Collateral collateral or guarantees or evidence of any thereof until payment in full of the Senior Debt. Each Noteholder Creditor hereby waives any and all rights to have any Collateral collateral or any part thereof granted to any Senior Creditor marshalled upon any foreclosure or other disposition of such collateral by any Senior Creditor or Debtor.