Subrogation Clause Example with Variations from Business Contracts

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Secured Obligations and any amounts payable under this Guaranty (excluding contingent obligations (other than any such obligations in respect of a Letter of Credit) as to which no claim has been made) have been indefeasibly paid in cash and performed in full and any commitments of the Lender Secured Parties or facilities provided by the Lender Secured Parties with respect to the Guaranteed Secured Obligations are terminated. If any amounts are paid to the Guarantor Guarantors in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties to reduce the amount of the Guaranteed Secured Obligations, whether matured or unmatured. 2 7. Termination; Reinstatement. This Guaranty is a continuing and irrevocable guaranty of all Secured Obligations now or hereafter existing and shall remain in full force and effect until all Secured Obligations and any other amounts payable under this Guaranty (excluding contingent obligations (other than any such obligations in respect of a Letter of Credit) as to which no claim has been made) are indefeasibly paid in full in cash and any commitments of the Secured Parties or facilities provided by the Secured Parties with respect to the Secured Obligations are terminated. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrower or the Guarantors is made, or the Secured Parties exercise their right of setoff, in respect of the Secured Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of the Guarantors under this paragraph shall survive termination of this Guaranty. View More

Subrogation. The Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender Administrative Agent or facilities provided by the Lender Administrative Agent with respect to the Guaranteed Obligations are terminated. If any... amounts are paid to the Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties Administrative Agent and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties Agent to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. 10 10. Termination; Reinstatement. This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Obligations and any other amounts payable (other than contingent indemnity obligations) under this Guaranty are indefeasibly paid in full in cash and any commitments of Administrative Agent or facilities provided by Administrative Agent with respect to the Guaranteed Obligations are terminated. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of Borrower or Guarantor is made, or Administrative Agent exercises its right of setoff, in respect of the Guaranteed Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by Administrative Agent in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not Administrative Agent is in possession of or has released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of Guarantor under this paragraph shall survive termination of this Guaranty. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations are terminated. If any amounts are paid to the a Guarantor in... violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. Amended & Restated Loan Agreement (G&I) Amended & Restated Continuing Guaranty 2 8. Termination; Reinstatement. This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Obligations, including without limitation, any amounts payable under this Guaranty, are indefeasibly paid in full in cash and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations are terminated, as evidenced by a Payoff Letter. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Obligors or any Guarantor is made, or any Lender exercises its right of setoff, in respect of the Guaranteed Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the applicable Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of the Guarantors under this paragraph shall survive termination of this Guaranty. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations are terminated. If any amounts are paid to the a Guarantor in... violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. Amended & Restated Loan Agreement (PF) Amended & Restated Continuing Guaranty 2 8. Termination; Reinstatement. This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Obligations, including without limitation, any amounts payable under this Guaranty, are indefeasibly paid in full in cash and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations are terminated, as evidenced by a Payoff Letter. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Obligors or any Guarantor is made, or any Lender exercises its right of setoff, in respect of the Guaranteed Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the applicable Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of the Guarantors under this paragraph shall survive termination of this Guaranty. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement contribution or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been are indefeasibly paid in cash and performed in full and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations are terminated. full. If any amounts are paid to ... class="diff-color-red">the any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties Bank and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties Bank, to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More

Found in 2 Contracts from Patterson-UTI Energy

Subrogation. The Each Guarantor hereby agrees that it shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all amounts owing to the Lender and the Secured Parties on account of the Guaranteed Obligations (other than (a) contingent indemnification obligations and any amounts payable (b) obligations and liabilities under this Guaranty Secured Cash Management Agreements or Secured Hedge Agreements... as to which arrangements satisfactory to the Lender shall have been made) are indefeasibly paid in full in cash and performed in full and any commitments of the Lender or facilities provided by the Lender with respect to the Guaranteed Obligations Commitments are terminated. If any amounts are paid to the Guarantor Guarantors in violation of the foregoing limitation, then such amounts shall be held in trust by the Guarantors for the benefit of the Secured Parties and shall forthwith be paid to the Administrative Agent, Lender for the benefit of the Secured Parties to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender Administrative Agent or facilities provided by the Lender Administrative Agent with respect to the Guaranteed Obligations are terminated. If any... amounts are paid to the any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties Administrative Agent and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties Agent to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender Administrative Agent or facilities provided by the Lender Administrative Agent with respect to the Guaranteed Obligations are terminated. If any... amounts are paid to the any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties Administrative Agent and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties Agent to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been indefeasibly paid in cash and performed in full and any commitments of the Lender Creditors or facilities provided by the Lender Creditors with respect to the Guaranteed Obligations are terminated. If any amounts are paid to the... any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties Creditors and shall forthwith be paid to the Administrative Agent, for the benefit of the Secured Parties Agent to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More

Subrogation. The No Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement contribution or similar rights with respect to any payments it makes under this Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty have been are indefeasibly paid in cash and performed in full and any the commitments of the Lender or facilities provided by Lenders under the Lender with respect to the Guaranteed Obligations Loan Agreement are terminated.... If any amounts are paid to the any Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Guaranteed Parties and shall forthwith be paid to the Administrative Agent, for the benefit on behalf of the Secured Parties Guaranteed Parties, to reduce the amount of the Guaranteed Obligations, whether matured or unmatured. View More