Acknowledgement of Subordination. Notwithstanding anything contained herein, this Lease is subject and subordinate in all respects to any Superior Security Document, to all other liens granted by the Company to the holder of such Superior Security Document with respect to or in connection with the indebtedness secured by such Superior Security Document, and to all modifications, extensions, refinancings (where such liens continue), or renewals of such lien.
Acknowledgement of Subordination. Notwithstanding anything contained herein to the contrary, Secured Party acknowledges and agrees that its security interest in the Collateral is subordinate in all respects to the security interest of the Banks in the Collateral to the extent provided in the Intercreditor Agreement, dated as of the date hereof (the "Intercreditor Agreement"), between Secured Party and the Banks and that all rights, remedies and powers of Secured Party hereunder with respect to the Collateral (including without limitation those set forth in Sections 5, 6 and 7 hereof) shall be subject to and limited by the superior rights of the Banks to the extent provided in the Intercreditor Agreement. In furtherance of the foregoing, Secured Party agrees to execute and deliver to the Banks a subordination agreement containing such terms as the Banks may reasonably request with respect to the foregoing and any other matter to be covered thereby.
Acknowledgement of Subordination. Xxxxxx X. Xxxxx, by executing below, hereby acknowledges, agrees and consents to the provisions set forth in 1(h) above, and agrees that any payment received by him in respect of the Insider Debt shall, at all times when the Note is outstanding, by held by him in trust for the benefit of the Holder and the holders of the Other Notes, and promptly remitted by him to the Holder and the holders of the Other Notes for application (on a pro rata basis, based on the amounts then outstanding) to amounts due under the Notes and the Other Notes. Since the date of original issuance of the Note, no Insider Debt has been sold or otherwise transferred by Xxxxx, and he hereby covenants not to transfer the same unless the transferee shall have acknowledged the limitations on payment set forth herein, in the Note and it the Subordination Agreement.
Acknowledgement of Subordination. Lender acknowledges that it hereby intentionally waives, relinquishes and subordinates the priority and superiority of the lien or charge of the Lender Security Agreement in favor of the lien or charge of the Bank One Security Interest upon the Residual Interest, and understands that in reliance upon and in consideration of this waiver, relinquishment and subordination, specific loans and advances are being and will be made and specific monetary and other obligations are being and will be entered into by third parties which would not be made or entered into but for such reliance upon this waiver, relinquishment and subordination. Lender agrees to execute such further documents as either Bank One or the Company may reasonablely request to reflect, implement or confirm such subordination.
Acknowledgement of Subordination. ACKNOWLEDGEMENT OF SUBORDINATION The undersigned hereby acknowledges, declares and agrees that the securities interest granted to it in the Opco Security Agreement dated [●] (the “Security Interest”) and all of the rights, remedies and/or recourses of the undersigned in connection therewith are hereby and shall hereafter be completely subordinated to and rank after any and all Liens now or hereafter held by the Collateral Agent, the Security Trustee or any other GAA Finance Party (as each of those terms is defined in the Financing Documents, collectively, the “Senior Liens”), including without limitation, the Liens granted hereunder in favour of the Collateral Agent, for its own benefit and the benefit of the GAA Finance Parties, notwithstanding any ranking that might otherwise be established by Applicable Law resulting from the nature of the Liens created under the Security Interest or the Senior Liens or the date or time of execution, issue, delivery, registration, filing, notification, publication or perfection of any deed, document, application for registration, notice or financing statement, or otherwise howsoever. The undersigned covenants and agrees not to exercise any of its rights, remedies and/or recourses under the Security Interest without the prior written consent of the Collateral Agent. The undersigned agrees to take such actions and execute and deliver such documents and information as may be reasonably requested by the Collateral Agent from time to time in order to give effect to the subordination contemplated herein, including, without limitation, registration of an amendment to any Personal Property Security Act (Newfoundland and Labrador) registration made in connection with the Security Interest to note the subordination in favour of the Senior Lenders. LABRADOR-ISLAND LINK PARTNERSHIP, by its general partner, LABRADOR-ISLAND LINK GENERAL PARTNER CORPORATION By: Name: Title: By: Name: Title: We have authority to bind the general partner; the general partner has authority to bind the Partnership. OR NEWFOUNDLAND AND LABRADOR HYDRO By: Name: Title: By: Name: Title: We have authority to bind the corporation. LIL REMEDIES AGREEMENT SCHEDULE 2 DISPUTE RESOLUTION PROCEDURE SCHEDULE 2 DISPUTE RESOLUTION PROCEDURE TABLE OF CONTENTS SECTION 1 INTERPRETATION 1 SECTION 2 ALTERNATIVE DISPUTE RESOLUTION 3 SECTION 3 NEGOTIATION PROCEDURE 4 SECTION 4 MEDIATION PROCEDURE 5 SECTION 5 ARBITRATION PROCEDURE 7 SECTION 6 EXPERT DETERMINATION PROCEDURE 10 S...
Acknowledgement of Subordination. Notwithstanding anything contained herein, this Guaranty and the Trustee’s rights and remedies against the Guarantor are subject and subordinate in all respects to all liens and security interests granted by Guarantor to any Lender that has made a loan to the Company in order to provide financing or refinancing for the Project with respect to or in connection with such loan, and to all modifications, extensions, refinancings (where such liens or security interests continue) or renewals of such liens or security interests.
Acknowledgement of Subordination. The Borrower and Lender acknowledge and agree that this Agreement is subject to a certain NCOP/NCOG Subordination Agreement of even date herewith in favor of Agent (on behalf of the lenders under the NCOG Syndicated Credit Facility).
Acknowledgement of Subordination. The County acknowledges that the lien of the Deed of Trust remains subordinate to the lien evidencing a loan from XX Xxxxxx Xxxxx Bank, N.A. to Borrower in the approximate amount of $12,895,177 as set forth in that certain Subordination Agreement by and among Borrower, County, XX Xxxxxx Xxxxx Bank, N.A. dated as of October 1, 2020, and recorded in the official records of Contra Costa County as Instrument No. 2020-0243191 on October 20, 2020, and to the lien evidencing a loan from Housing Trust Silicon Valley to Borrower in the amount of $1,331,000 as set forth in that certain Subordination Agreement by and among Borrower, County, XX Xxxxxx Xxxxx Bank, N.A. dated as of October 1, 2020 and recorded in the official records of Contra Costa County as Instrument No. 2020- 0243195 on October 20, 2020.
Acknowledgement of Subordination. The parties acknowledge that the Old Ruud Notes are subject to certain Subordination Agreements pursuant to which ADLT subordinated the payment of the Old Ruud Notes to the payment of all Superior Debt (as defined in such Subordination Agreements). The parties also agree and acknowledge that the New Ruud Notes will be subordinate to the Superior Debt in accordance with the terms of the Subordination Agreements.
