Common use of Subrogation; Marshalling Clause in Contracts

Subrogation; Marshalling. The Subordinated Creditor shall not be subrogated to, or be entitled to any assignment of any Senior Indebtedness or evidence of the Senior Indebtedness or any Security until all Senior Indebtedness is indefeasibly paid and satisfied in full. The Subordinated Creditor hereby waives any and all rights to have any Security or any part thereof granted to the Agent and/or the Lenders marshaled in any Insolvency Proceedings or upon any foreclosure or other disposition of such Collateral by the Agent and/or the Lenders or otherwise.

Subrogation; Marshalling. The Subordinated Creditor shall not be subrogated to, or be entitled to any assignment of any Senior Note Indebtedness or evidence of the Senior Note Indebtedness or any Security until all Senior Note Indebtedness is indefeasibly paid and satisfied in full. The Subordinated Creditor hereby waives any and all rights to have any Security or any part thereof granted to the Agent Trustee and/or the Lenders Noteholders marshaled in any Insolvency Proceedings or upon any foreclosure or other disposition of such Collateral by the Agent Trustee and/or the Lenders Noteholders or otherwise.