Common use of Borrower Indebtedness Clause in Contracts

Borrower Indebtedness. Any Indebtedness of the Borrower now or hereafter held by any Parent Guarantor or any of their respective Subsidiaries (other than the Borrower) is hereby subordinated to the Indebtedness of the Borrower to the Agents, the Issuer and the Lenders; and such indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, if the Agents, after an Event of Default has occurred, so requests, shall be collected, enforced and received by such Parent Guarantor or such Subsidiary as trustee for the Agents, the Issuer and the Lenders and be paid over to the Administrative Agent on behalf of the Agents, the Issuer and the Lenders on account of the indebtedness of the Borrower to the Agents, the Issuer and the Lenders, but without affecting or impairing in any manner the obligations of such Parent Guarantor or such Subsidiary hereunder or under each other Loan Document to which it is a party. Prior to the transfer by any Parent Guarantor or any their respective Subsidiaries (other than the Borrower) of any note or negotiable instrument evidencing any indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, such Parent Guarantor or such Subsidiary shall xxxx such note or negotiable instrument with a legend that the same is subject to this subordination.

Borrower Indebtedness. Any Indebtedness of the Borrower now or hereafter held by any Parent Designated Guarantor or any of their respective Subsidiaries (other than the Borrower) is hereby subordinated to the Indebtedness of the Borrower to the Agents, the Issuer and the Lenders; and such indebtedness of the Borrower to such Parent Designated Guarantor or such Subsidiary, if the Agents, after an Event of Default has occurred, so requests, shall be collected, enforced and received by such Parent Designated Guarantor or such Subsidiary as trustee for -76- the Agents, the Issuer and the Lenders and be paid over to the Administrative Agent on behalf of the Agents, the Issuer and the Lenders on account of the indebtedness of the Borrower to the Agents, the Issuer and the Lenders, but without affecting or impairing in any manner the obligations of such Parent Designated Guarantor or such Subsidiary hereunder or under each other Loan Document to which it is a party. Prior to the transfer by any Parent Designated Guarantor or any their respective Subsidiaries (other than the Borrower) of any note or negotiable instrument evidencing any indebtedness of the Borrower to such Parent Designated Guarantor or such Subsidiary, such Parent Designated Guarantor or such Subsidiary shall xxxx such note or negotiable instrument with a legend that the same is subject to this subordination.

Borrower Indebtedness. Any Indebtedness of the Borrower now or hereafter held by any Parent Guarantor or any of their respective Subsidiaries (other than the Borrower) is hereby subordinated to the Indebtedness of the Borrower to the Agents, the Issuer and the Lenders; and such indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, if the Agents, after an Event of Default has occurred, so requests, shall be collected, enforced and received by such Parent Guarantor or such Subsidiary as trustee for the Agents, the Issuer and the Lenders and be paid over to the Administrative Agent on behalf of the Agents, the Issuer and the Lenders on account of the indebtedness of the Borrower to the Agents, the Issuer and the Lenders, but without affecting or impairing in any manner the obligations of such Parent Guarantor or such Subsidiary hereunder or under each other Loan Document to which it is a party. Prior to the transfer by any Parent Guarantor or any their respective Subsidiaries (other than the Borrower) of any note or negotiable instrument evidencing any indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, such Parent Guarantor or such Subsidiary shall xxxx such note or negotiable instrument with a legend that the same is subject to this subordination.this

Borrower Indebtedness. Any Indebtedness of the Borrower now or hereafter held by any Parent Designated Guarantor or any of their respective Subsidiaries (other than the Borrower) is hereby subordinated to the Indebtedness of the Borrower to the Agents, the Issuer and the Lenders; and such indebtedness of the Borrower to such Parent Designated Guarantor or such Subsidiary, if the Agents, after an Event of Default has occurred, so requests, shall be collected, enforced and received by such Parent Designated Guarantor or such Subsidiary as trustee for the Agents, the Issuer and the Lenders and be paid over to the Administrative Agent on behalf of the Agents, the Issuer and the Lenders on account of the indebtedness of the Borrower to the Agents, the Issuer and the Lenders, but without affecting or impairing in any manner the obligations of such Parent Designated Guarantor or such Subsidiary hereunder or under each other Loan Document to which it is a party. Prior to the transfer by any Parent Designated Guarantor or any their respective Subsidiaries (other than the Borrower) of any note or negotiable instrument evidencing any indebtedness of the Borrower to such Parent Designated Guarantor or such Subsidiary, such Parent Designated Guarantor or such Subsidiary shall xxxx such note or negotiable instrument with a legend that the same is subject to this subordination.