Consent to Subordinated Debt Sample Clauses

Consent to Subordinated Debt. Subject to the terms of this Agreement, but notwithstanding anything to the contrary in the other Senior Lender Loan Documents, the Senior Lender (on behalf of itself and its affiliates) consents to the Subordinated Debt and the entry and performance by the Borrower and its affiliates of the Securities Purchase Agreement (and related documents), and no default or Event of Default under the Senior Debt shall be deemed to have occurred as a result thereof. To the extent of any inconsistency between this Agreement and the Securities Purchase Agreement (and any related agreements including amendments and modifications), the terms of this Agreement shall control and the Securities Purchase Agreement and related agreements shall be deemed to have been amended to be consistent with this Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Consent to Subordinated Debt. Bank hereby consents to Borrower’s incurrence of $8,000,000 in Indebtedness owing to SHSP Holdings, Inc., and in accordance with that certain Subordination Agreement between Bank and SHSP Holdings, Inc., such Indebtedness constitutes Permitted Indebtedness under the Loan and Security Agreement as Subordinated Debt.
Sample 1
Consent to Subordinated Debt a. Obligors have entered into that certain Investment Agreement with Allied Capital Corporation ("ALLIED") dated June 30, 1998 (the "ALLIED INVESTMENT AGREEMENT") in connection with the extension by Allied to Obligors of a loan in the original principal amount of Ten Million Dollars ($10,000,000.00) (the "ALLIED LOAN").
Sample 1
Consent to Subordinated Debt. The Revolving Credit Lenders and the Note Backup Lenders signatory hereto consent to the issuance of up to $200,000,000 aggregate principal amount of Subordinated Debt by the Borrower as described in the Offering Memorandum issued December 7, 1998 relating thereto and bearing an initial interest rate not in excess of 9.5%.
Sample 1
Consent to Subordinated Debt. Subject to all other provisions of the Loan Agreement, upon the effectiveness of the Intercreditor and Subordination Agreement and satisfaction of all of the other conditions of the effectiveness of the Fifth Amendment, Co-Agents and Lenders consent, pursuant to clause (e) of Section 9.13 of the Loan Agreement, to the terms and conditions of the Subordinated Debt Documents and to Borrower's incurring the unsecured indebtedness contemplated therein, and waive any Default or Event of Default that may have occurred solely by reason of Borrower's negotiation of the Subordinated Debt Documents; provided that Borrower shall use the proceeds of such subordinated indebtedness to reduce the Revolving Loans and for working capital in the ordinary course of its business. Co-Agents' and Lenders' do not hereby consent to the granting of any Lien as security for the Subordinated Debt.
Sample 1
Consent to Subordinated Debt. Notwithstanding anything to the contrary in the Loan Agreement, Silicon hereby consents to the Borrower issuing up to $5,000,000 in subordinated debt, which debt may be secured by a lien on any or all of Borrower’s assets, provided that the holders of such subordinated debt execute and deliver to Silicon, on Silicon’s standard form with such changes thereto as are acceptable to Silicon in its good faith business judgment, a subordination agreement pursuant to which the debt owed by Borrower to the holders of the subordinated debt will be fully subordinated to the Obligations and the lien, if any, granted to the holders of the subordinated debt will be fully subordinated to the lien granted in favor of Silicon. Regularly scheduled payments of interest will be allowed to be made to the holders of the subordinated debt provided that there is no Default or Event of Default both before and after giving effect to such payments.
Sample 1
Consent to Subordinated Debt. Agent and Lenders hereby consent to the incurrence by Company of up to $10,000,000 of indebtedness which may be secured by a lien upon the Collateral junior to that held by Agent, for the benefit of Lenders, and otherwise on terms and conditions, including subordination provisions and execution of an intercreditor agreement all acceptable to Agent in its discretion.
Sample 1
AutoNDA by SimpleDocs

Related to Consent to Subordinated Debt

  • Agreement to Subordinate The Company agrees, and each Holder by accepting a Note agrees, that the Indebtedness evidenced by the Notes is subordinated in right of payment, to the extent and in the manner provided in this Article 10, to the prior payment in full of all Senior Debt (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed), and that the subordination is for the benefit of the holders of Senior Debt.

  • Relation to Subordination Provisions Interest Drawings under the Liquidity Facilities and withdrawals from the Cash Collateral Accounts, in each case, in respect of interest on the Certificates of any Class, will be distributed to the Trustee for such Class of Certificates, notwithstanding Sections 2.01(b) and 3.02.

  • Applicability of Article; Agreement to Subordinate The provisions of this Article XII shall be applicable to the Debt Securities of any series (Debt Securities of such series referred to in this Article XII as "Subordinated Debt Securities") designated, pursuant to Section 2.03, as subordinated to Senior Indebtedness. Each Holder by accepting a Subordinated Debt Security agrees that the Indebtedness evidenced by such Subordinated Debt Security is subordinated in right of payment, to the extent and in the manner provided in this Article XII, to the prior payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness. All provisions of this Article XII shall be subject to Section 12.12.

  • NO SUBORDINATION There is no agreement, indenture, contract or instrument to which Borrower is a party or by which Borrower may be bound that requires the subordination in right of payment of any of Borrower's obligations subject to this Agreement to any other obligation of Borrower.

  • Securities Subordinated to Senior Debt (1) The Partnership, for itself, its successors and assigns, covenants and agrees, and each Holder of Securities, by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any), and interest on each and all of the Securities is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of all Senior Debt of the Partnership.

  • Securities Subordinate to Senior Debt The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

  • Non-Subordination The Obligations are not subordinated in any way to any other obligations of Borrower or to the rights of any other Person.

  • With Consent of Holders of Securities Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture, the Securities and any Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Securities of all Series affected by such supplemental indenture (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase thereof), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium on, if any, and interest on, if any, the Securities of such Series, except a Payment Default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Securities of such Series or any Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Securities of such Series affected by such Default or Event of Default (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Securities of such Series). Section 2.11 hereof shall determine which Securities of such Series are considered to be “outstanding” for purposes of this Section 9.02. Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Securities of such Series as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02(b) hereof, the Trustee will join with the Company and any Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental indenture. It is not necessary for the consent of the Holders of Securities of such Series under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company will mail to the Holders of Securities of such Series affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Securities of such Series then outstanding affected by such noncompliance waive compliance in a particular instance by the Company with any provision of this Indenture, the Securities of such Series or any Guarantees. However, without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with respect to any Securities of a Series held by a non-consenting Holder):

  • Payments on Subordinated Debt The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

  • Consent to Suit In the case of any dispute under or in connection with this Agreement, the Indemnitee may only bring suit against the Corporation in the Court of Chancery of the State of Delaware. The Indemnitee hereby consents to the exclusive jurisdiction and venue of the courts of the State of Delaware, and the Indemnitee hereby waives any claim the Indemnitee may have at any time as to forum non conveniens with respect to such venue. The Corporation shall have the right to institute any legal action arising out of or relating to this Agreement in any court of competent jurisdiction. Any judgment entered against either of the parties in any proceeding hereunder may be entered and enforced by any court of competent jurisdiction.

Time is Money Join Law Insider Premium to draft better contracts faster.