Common use of Assignment of Subordinated Indebtedness Clause in Contracts

Assignment of Subordinated Indebtedness. Subordinated Creditor agrees that until the Senior Indebtedness has been paid in full and satisfied and all financing arrangements between Borrower and Senior Creditor have been terminated in writing, Subordinated Creditor will not assign, transfer or otherwise dispose of the Subordinated Indebtedness or any portion thereof unless such assignment, transfer or other disposition is made expressly subject to this Agreement.

Assignment of Subordinated Indebtedness. Subordinated Subordinating Creditor agrees that until the Senior Indebtedness Debt has been paid in full and satisfied and all financing arrangements between Borrower and Senior Creditor have the Loan Agreement has been terminated in writing, Subordinated Subordinating Creditor will not assign, transfer or otherwise dispose of the Subordinated Indebtedness or any portion thereof unless such assignment, transfer or other disposition is made expressly subject to this Agreement and the transferee expressly acknowledges in a writing delivered to Bank and in form acceptable to it that the Subordinated Indebtedness is being sold subject to the terms of this Agreement.