Continuing Nature of Subordination. This Agreement shall be effective and may not be terminated or otherwise revoked by the Noteholder until the Senior Debt shall have been paid in full in cash and satisfied and all financing arrangements to extend Senior Debt entered into pursuant to the Credit Agreement among Borrower, the Administrative Agent and the Senior Lenders have been terminated. In the event the Noteholder shall have any right under applicable law otherwise to terminate or revoke this Agreement which right cannot be waived, such termination or revocation shall not be effective until written notice of such termination or revocation, signed by the Noteholder, is actually received by the Administrative Agent's officer responsible for such matters. In the absence of the circumstances described in the immediately preceding sentence, this is a continuing agreement of subordination and the Administrative Agent and the Senior Lenders may continue, at any time and without notice to the Noteholder, to extend credit or other financial accommodations and loan monies to or for the benefit of Borrower on the faith hereof. Any termination or revocation described hereinabove shall not affect this Agreement in relation to (a) any of the Senior Debt which arose or was committed to prior to receipt thereof or (b) any of the Senior Debt created after receipt thereof, if such Senior Debt was incurred either through readvances by the Senior Lenders pursuant to the Senior Lenders' financing arrangements with Borrower, including, without limitation, advances or readvances, and/or for the purpose of protecting any collateral, including, but not limited to, all protective advances, costs, expenses, and reasonable attorneys' and paralegals' fees, whensoever made, advanced or incurred by the Administrative Agent or any Senior Lender in connection with the Senior Debt or the collateral therefor. If, in reliance on this Agreement, any Senior Lender makes loans or other advances to or for the benefit of Borrower or takes other action under the Credit Agreement after such aforesaid termination or revocation by the Noteholder but prior to the receipt by the Administrative Agent of said written notice as set forth above, the rights of the Senior Lenders shall be the same as if such termination or revocation had not occurred.
Continuing Nature of Subordination. This Agreement shall be effective and may not be terminated or otherwise revoked by the Subordinated Creditor until all of the Senior Indebtedness shall have been fully paid and discharged and all financing arrangements between the Loan Parties and the Senior Lender have been terminated. This Agreement shall constitute a continuing agreement of subordination, and the Senior Lender may, without notice to or consent by the Subordinated Creditor, modify any term of the Senior Indebtedness in reliance upon this Agreement.
Continuing Nature of Subordination. This Agreement shall be effective and may not be terminated or otherwise revoked by the Junior Creditor until the Senior Debt shall have been fully paid and discharged and all financing arrangements between the Borrower and the Senior Creditor have been terminated. This is a continuing agreement of subordination and the Senior Creditor may continue, at any time and without notice to the Junior Creditor, to extend credit or other financial accommodations and loan monies to or for the benefit of the Borrower in reliance hereon. No obligation of the Junior Creditor hereunder shall be affected by the dissolution, liquidation, death or incapacity of, or written revocation by, the Junior Creditor or any other subordinated party, pledgor, endorser, or guarantor, if any.
Continuing Nature of Subordination. This Agreement shall be ---------------------------------- effective and may not be terminated or otherwise revoked by the Junior Creditor until the Senior Debt shall have been indefeasibly paid in full in cash and satisfied and all financing arrangements among Debtor Parties and the Senior Creditor have been terminated. The Junior Creditor hereby waives to the fullest extent permitted by applicable law any right it may have to terminate or revoke this Agreement or any of the provisions of this Agreement. In the event the Junior Creditor shall have any right under applicable law otherwise to terminate or revoke this Agreement which right cannot be waived, such termination or revocation shall not be effective until written notice of such termination or revocation, signed by the Junior Creditor, is actually received by the Senior Creditor's officer responsible for such matters In the absence of the circumstances described in the immediately preceding sentence, this is a continuing agreement of subordination and the Senior Creditor may continue, at any time and without notice to the Junior Creditor, to extend credit or other financial accommodations and loan monies to or for the benefit of a Debtor Party on the faith hereof. Any termination or revocation described hereinabove shall not affect this Agreement in relation to (a) any of the Senior Debt which arose or was committed to prior to receipt thereof, or (b) any of the Senior Debt created after receipt thereof if such Senior Debt is Preservation Debt.
Continuing Nature of Subordination. This Agreement will be effective and may not be terminated or otherwise revoked by any Junior Creditor until the Senior Creditor Repayment shall have occurred. Each Junior Creditor hereby waives to the fullest extent permitted by applicable law any right it may have to terminate or revoke this Agreement or any of the provisions of this Agreement. In the event that any Junior Creditor has any right under applicable law otherwise to terminate or revoke this Agreement which right cannot be waived, such termination or revocation will not be effective until written notice of such termination or revocation, signed by such Junior Creditor, is actually received by Senior Creditor’s officer responsible for such matters. In the absence of the circumstances described in the immediately preceding sentence, this is a continuing agreement of subordination and Senior Creditor may continue, at any time and without notice to any Junior Creditor, to extend credit or other financial accommodations and loan monies to or for the benefit of Debtors on the faith hereof. Any termination or revocation described hereinabove will not affect this Agreement in relation to any of the Senior Debt which arose or was committed to prior to receipt thereof.
Continuing Nature of Subordination. This Agreement shall continue and shall be irrevocable until all of the Liabilities have been fully and completely performed and satisfied by the Obligor or otherwise discharged and released by the Investors, and Subordinated Creditor shall not be released from any duty, obligation or liability hereunder so long as there is any claim of the Investors against the Obligor arising out of the liquidity provision of the Purchase Agreement (including any and all amendments, modifications or supplements to the Purchase Agreement) which has not been performed, settled or discharged in full.
Continuing Nature of Subordination. This Agreement shall be irrevocable and shall continue effective until the Bank Loan has been paid in full and all financing arrangements between Borrower and the Bank relating to the Bank Loan have been terminated. The agreement of the County to subordinate to the Bank Loans shall be limited to the principal amount of the Bank Loans, together with interest, default interest, fees and charges that may be incurred in connection with the Bank Loans, all as described in the Bank Deed of Trust including, but not limited to, real estate tax and insurance payments and any and all modifications of the Bank Loan.
Continuing Nature of Subordination. This Agreement shall be effective and may not be terminated or otherwise revoked by Junior Lender until all of Borrower’s obligations to Senior Lender related to the Loan (the “Obligations”) shall have been fully paid and discharged and all financing arrangements between Borrower and Senior Lender have been terminated. This is a continuing agreement of subordination and Senior Lender may continue, at any time and without notice to Junior Lender, to extend credit or other financial accommodations and loan monies to or for the benefit of Borrower in reliance on this Agreement.
Continuing Nature of Subordination. This Agreement shall continue to be effective until the Senior Indebtedness shall have been fully discharged or the termination of this Agreement. This is a continuing agreement of subordination.
Continuing Nature of Subordination. This is a continuing agreement of subordination and Senior Lender may continue, at any time and without notice to Subordinated Lender, to extend credit or other financial accommodation or benefit and loan monies to or for the account of Borrower on the faith hereof. This Agreement shall be irrevocable by Subordinated Lender and shall continue to be effective until the Senior Debt shall have been fully and finally discharged and all financing arrangements, including, but not limited to the Loan Agreement, between Borrower and Senior Lender have been terminated. Subordinated Lender consents and covenants that all obligations and liabilities of Borrower to Senior Lender shall be deemed to have been made or incurred, in part, in reliance upon this Agreement.
