Common use of Additional Subordinated Creditors Clause in Contracts

Additional Subordinated Creditors. (a) The Borrower may request that any person becomes a Subordinated Creditor, with the prior approval of the Agent (acting on the instructions of the Majority Lenders), by delivering to the Agent: (i) a duly executed Subordination Agreement; and (ii) such Constitutional Documents, corporate authorisations and other documents and matters as the Agent may reasonably require, in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders), to verify that the person’s obligations are legally binding, valid and enforceable and to satisfy any applicable legal and regulatory requirements. (b) A person referred to in paragraph (a) above will become a Subordinated Creditor on the date the Agent enters into the Subordination Agreement delivered under paragraph (a) above.

Additional Subordinated Creditors. (a) The Borrower Borrowers may request that any person becomes a Subordinated Creditor, with the prior approval of the Agent (acting on the instructions of the Majority Lenders)Facility Agent, by delivering to the Facility Agent: (i) a duly executed Subordination Agreement; (ii) a duly executed Subordinated Debt Security; and (iiiii) such Constitutional Documentsconstitutional documents, corporate authorisations and other documents and matters as the Facility Agent may reasonably require, in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders)Facility Agent, to verify that the person’s 's obligations are legally binding, valid and enforceable and to satisfy any applicable legal and regulatory requirements. (b) A person referred to in paragraph (a) above will become a Subordinated Creditor on the date the Security Agent enters into the Subordination Agreement and the Subordinated Debt Security delivered under paragraph (a) above.

Additional Subordinated Creditors. (a) The Borrower Borrowers may request that any person becomes a Subordinated Creditor, with the prior approval of the Agent (acting on the instructions of the Majority Lenders)Lender, by delivering to the AgentLender: (i) a duly executed Subordination Agreement; (ii) a duly executed Subordinated Debt Security; and (iiiii) such Constitutional Documentsconstitutional documents, corporate authorisations and other documents and matters as the Agent Lender may reasonably require, in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders)Lender, to verify that the person’s 's obligations are legally binding, valid and enforceable and to satisfy any applicable legal and regulatory requirements. (b) A person referred to in paragraph (a) above will become a Subordinated Creditor on the date the Agent Lender enters into the Subordination Agreement and the Subordinated Debt Security delivered under paragraph (a) above.