Subrogation Right definition

Subrogation Right means any right of contribution, subrogation, reimbursement, indemnity, or repayment, and any other "claim", as that term is defined in the United States Bankruptcy Code, which any Guarantor might now have or hereafter acquire against the Company or any other guarantor of the Guarantied Obligations that arises from the existence or performance of such Guarantor's obligations under this Guarantee, and any right to participate in any security for the Guarantied Obligations.
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Examples of Subrogation Right in a sentence

  • To effectuate such subordination, the Parent Borrower hereby agrees that it shall not be entitled to any payment in respect of any Subrogation Right until the Commitments shall have expired or been terminated and the principal of and interest on each Loan and all fees payable under this Agreement shall have been paid in full and all Letters of Credit shall have expired or terminated (or cash collateralized to the satisfaction of the Administrative Agent) and all LC Disbursements shall have been reimbursed.

  • Settlement responsibilities for the Obligations among Borrowers shall be allocated in the application of Subrogation Rights as to best uphold the validity of this Agreement and to give effect to Section 3.5; provided, however, each Borrower agrees not to make any claim against or seek any payment directly or indirectly from another Borrower with respect to any Subrogation Right until the Obligations have been indefeasibly paid in full.

  • To effectuate such subordination, each Subsidiary Guarantor hereby agrees that it shall not be entitled to any payment by the Company or any Credit Party in respect of any Subrogation Right until all of the Guaranteed Obligations have been indefeasibly paid in full.

  • To effectuate such subordination, each Guarantor hereby agrees that it shall not be entitled to any payment by the Borrower or any Credit Party in respect of any Subrogation Right until all of the Guaranteed Obligations have been indefeasibly paid in full.

  • The workers’ compensation policy shall include a Waiver of Subrogation (Right of Recovery) in favor of the City of Fort Worth.

  • Subrogation (Right of Recovery) In the event of any payment of benefits under this policy, TIC shall be subrogated to all your rights including without limitation, the right to proceed in your name, but at the insurer’s cost, against any third party that may be responsible for giving rise to a claim under this policy.

  • Parent hereby agrees that, notwithstanding the assignment to Denny's of all rights (the "Subrogation Rights") of the lenders and issuing banks under the New FRI-M Credit Agreement against each Borrower and Guarantor (each as defined in the New FRI-M Credit Agreement) other than Parent, to which Parent is subrogated, if it shall receive any subrogation payment in respect of any Subrogation Right, Parent shall immediately contribute such payment to Denny's as a capital contribution.

  • To effectuate such subordination, each Guarantor hereby agrees that it shall not be entitled to any payment by the Borrower in respect of any Subrogation Right until all of the Guaranteed Obligations have been indefeasibly paid in full.

  • To effectuate such subordination, the Borrower and each Borrowing Subsidiary hereby agree that they shall not be entitled to any payment by the Borrower or any Borrowing Subsidiary, as the case may be, in respect of any Subrogation Right until all of the Obligations have been indefeasibly paid in full.

  • INDEMNIFICATION 45 10.1 Indemnification Covenants 45 10.2 Limitations on Indemnities 47 10.3 Notice of Indemnity Claim 49 10.4 Survival of Representations and Warranties.51 10.5 No Exhaustion of Remedies or Subrogation; Right of Set Off 51 11.