Common use of Agreements in Respect of Subordinated Debt Clause in Contracts

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. (a) The No Subordinated Creditor will notwill: (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 Creditors 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.