Benefit of Subordination Provisions. These subordination provisions are intended solely to define the relative rights of the Secured Parties, the Collateral Agent, the Company, the Subordinated Lenders, and their respective successors and permitted assigns.
Benefit of Subordination Provisions. Nothing contained herein shall:
Benefit of Subordination Provisions. These subordination provisions are intended to benefit the Secured Parties.
Benefit of Subordination Provisions. Nothing contained herein shall impair, as among the Debtor, its creditors other than the Purchasers and the Subordinated Lenders, the obligation of the Debtor, to pay the principal of and interest on the Subordinated Debt as and when the same shall become due and payable in accordance with the terms thereof or affect the relative rights against the Debtor of the Subordinated Lenders and creditors of the Debtor other than the Purchasers.
Benefit of Subordination Provisions. These subordination provisions are intended solely to define the relative rights of the Secured Parties, the Subordinated Lender, and their respective successors and permitted assigns. Nothing contained in this Agreement is intended to or shall impair, as between the Issuer, its creditors (other than the Secured Parties) and the Subordinated Lender, the obligation of the Issuer, which is absolute and unconditional, to pay to the Subordinated Lender the principal of and interest on the Subordinated Debt as and when the same shall become due and payable in accordance with, and subject to, the terms of this Agreement and the Subordinated Loan Agreement (as modified hereby), or to affect the relative rights of the Subordinated Lender and the creditors of the Issuer (other than the Secured Parties).
Benefit of Subordination Provisions. The subordination provisions of this Agreement are intended solely to define the relative rights of Xxxxxx Electronics and its successors and assigns on the one hand and the Administrative Agent and the Lenders and their successors and assigns on the other hand, and nothing contained herein shall impair, as between the Borrower and Xxxxxx Electronics, the obligations of the Borrower (which are absolute and unconditional) to pay the Subordinated Obligations as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights against the Borrower of Xxxxxx Electronics and creditors of the Borrower other than the Administrative Agent and the Lenders.
Benefit of Subordination Provisions. Each Subordinated Party, agrees that the Bank shall not be liable for any action or failure to act under or in connection with any of the Bank Documents, it being understood that the decisions as to whether or not to act and the manner of proceeding under such instruments and documents are within the sole discretion of the Bank, and shall not be affected in any manner by the existence of the Subordinated Indebtedness. It is further agreed that such obligations as may be imposed under the Bank Documents or under the Uniform Commercial Code or other applicable law shall run exclusively to the benefit of the Bank and may be enforced or waived only by the Bank.
Benefit of Subordination Provisions. Nothing contained herein shall (a) impair, as among the Borrower, its creditors other than the Administrative Agent, Collateral Agent, the Senior Secured Lenders and the Subordinated Lenders, the obligation of the Borrower, which is absolute and unconditional (and which, subject to the rights hereunder of the Administrative Agent, Collateral Agent and the Senior Secured Lenders, is intended to rank equally with all other secured obligations of the Borrower), to pay the principal of and interest on the Subordinated Debt as and when the same shall become due and payable in accordance with the terms thereof or (b) affect the relative rights against the Borrower of the Subordinated Lenders and creditors of the Borrower other than the Administrative Agent, Collateral Agent and the Senior Secured Lenders.
Benefit of Subordination Provisions. 4 2.2 Subordination to Payment of Senior Credit Agreement Obligations............ 5 2.3
Benefit of Subordination Provisions. The Subordination Provisions are made for the benefit of the Agent and the Banks, and each Bank is made an obligee hereunder with the same effect as if it were a party hereto and may proceed to enforce the Subordination Provisions.
