Agreements in Respect of Subordinated Debt. No Subordinated Creditor will sell, assign, pledge, encumber or otherwise dispose of any of the Subordinated Debt unless such sale, assignment, pledge, encumbrance or disposition is made subject to this Intercompany Subordination Agreement.
Agreements in Respect of Subordinated Debt. (a) The Subordinated Creditor will not:
(i) Sell, assign, pledge, encumber or otherwise dispose of any of the Subordinated Debt; or
(ii) Permit any of the terms of any of the Subordinated Debt to be changed or amended (or issue any consent, waiver or approval which has the effect of resulting in any change or amendment) in any manner which could reasonably be expected to be materially adverse to the interests of the Lenders.
(b) The Subordinated Creditor shall immediately notify the Administrative Agent of the occurrence of any breach or default under the Subordinated Debt beyond any grace period provided with respect thereto.
Agreements in Respect of Subordinated Debt. No Subordinated Creditor will, except as permitted under the Credit Agreement:
(i) sell, assign, pledge, encumber or otherwise dispose of any of the Subordinated Debt unless such sale, assignment, pledge, encumbrance or disposition is made expressly subject to this Intercompany Subordination Agreement; or
(ii) permit the terms of any of the Subordinated Debt to be changed in such a manner as to have a material adverse effect upon the rights or interests of the Agent or any other Secured Party hereunder.
Agreements in Respect of Subordinated Debt. No amendment, waiver or other modification of this Note, and no agreement supplemental to this Note, may adversely affect the rights or interests of any holder or owner of Senior Indebtedness hereunder.
Agreements in Respect of Subordinated Debt. No Subordinated Creditor will except as permitted under the applicable Credit Agreement:
Agreements in Respect of Subordinated Debt. (a) During the term of this Agreement, the Standby Creditor shall not, without the prior written consent of the Lender:
(i) Cancel or otherwise discharge any of the Subordinated Debt or subordinate any of the Subordinated Debt to any indebtedness of the Borrower other than the Obligations; or
(ii) Sell, assign, pledge, encumber or otherwise dispose of any of the Subordinated Debt unless such sale, assignment, pledge, encumbrance or disposition (A) is to a person or entity other than the Borrower or any of its owners, principals, subsidiaries or affiliates and (B) is made expressly subject to this Agreement; or
(iii) Permit the terms of the Subordinated Debt to be increased, modified, amended or supplemented (for the avoidance of doubt, other than by exercise by the Standby Creditor of its conversion rights pursuant to the terms and conditions of Section 3 of the Subordinated Note).
(b) The Standby Creditor shall promptly notify the Lender in writing of the occurrence of any default or event of default under the Subordinated Note.
Agreements in Respect of Subordinated Debt. (a) Xxxxx agrees that it will not make any payment for or on account of or in respect of this Note, or take any other action, in contravention of the provisions of this Section 4.
(b) Payee shall promptly notify the holders of Senior Debt, at Banque Indosuez, New York Branch, 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx, 00000, or such other address of which Xxxxx has been notified in writing, of the occurrence of any default under this Note of which Payee shall obtain knowledge.
Agreements in Respect of Subordinated Debt. (a) The Subordinated Creditor will not:
(i) Sell, assign, pledge, encumber or otherwise dispose of any of the Subordinated Debt; or
(ii) Permit any of the terms of any of the Subordinated Debt to be changed or amended (or issue any consent, waiver or approval which has the effect of resulting in any change or amendment) in any manner which could reasonably be expected to be adverse to the interest of the Lenders.
(b) The Subordinated Creditor shall immediately notify the Administrative Lender of the occurrence of any breach or default under the Subordinated Debt beyond any grace period provided with respect thereto.
Agreements in Respect of Subordinated Debt. Payor agrees that it will not make any payment for or on account of or in respect of this Note, or take any other action, in contravention of the provisions of this Section 3.
Agreements in Respect of Subordinated Debt. (i) No amendment, waiver or other modification of the Loan Documents shall adversely affect the rights or interests of the Senior Agent or the Senior Credit Facility Lenders hereunder.
(ii) The Administrative Agent shall promptly notify the Senior Agent of the occurrence of any Default or Event of Default under the Loan Documents of which the Administrative Agent is actually aware.
