Contingent debt. On a Winding Up of the Issuer, the Subscribers shall only be entitled to prove for any sum payable in respect of the Borrower Notes as a debt which is subject to and contingent upon prior payment in full of the Senior Creditors. Each Subscriber agrees, and by subscribing for a Borrower Note each Subscriber of the Borrower Note will be deemed to agree, that:
Appears in 8 contracts
Samples: northland.infocouncil.biz, kapiticoast.infocouncil.biz, infocouncil.fndc.govt.nz
