Common use of Additional Subordinated Debt Clause in Contracts

Additional Subordinated Debt. (i) Any holder of the Additional Subordinated Debt alleges (or any Governmental Authority with applicable jurisdiction determines) that the Supplemental Credit Lenders or New Credit Agreement Lenders are not holders of Senior Indebtedness (as defined in the Second Indenture) or (ii) the subordination provisions in the Second Indenture shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the Additional Subordinated Debt.

Appears in 2 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)

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Additional Subordinated Debt. (i) Any holder of the Additional ---------------------------- Subordinated Debt alleges (or any Governmental Authority with applicable jurisdiction determines) that the Supplemental Credit Lenders or New Credit Agreement Lenders are not holders of Senior Indebtedness (as defined in the Second Indenture) or (ii) the subordination provisions in the Second Indenture shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the Additional Subordinated Debt.

Appears in 2 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Chattem Inc)

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