Common use of The U.S Clause in Contracts

The U.S. Borrower agrees it will not exercise any rights which it may acquire by way of subrogation by any payment made hereunder, or otherwise, until all the Obligations (other than contingent indemnification obligations for which no claim has been made) shall have been paid in full subsequent to the termination of all the Revolving Credit Commitments and expiration of all Letters of Credit. If any amount shall be paid to the U.S. Borrower on account of such subrogation rights at any time prior to the later of (x) the payment in full of the Obligations and all other amounts payable by the Borrowers hereunder and under the other Loan Documents (other than contingent indemnification obligations for which no claim has been made) and (y) the termination of the Revolving Credit Commitments and expiration of all Letters of Credit, such amount shall be held in trust for the benefit of the Administrative Agent, the Lenders, and the L/C Issuers and shall forthwith be paid to the Administrative Agent for the benefit of the Lenders and the L/C Issuers or be credited and applied upon the Obligations, whether matured or unmatured, in accordance with the terms of this Agreement.