Common use of Continuing Nature of Subordination Clause in Contracts

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 continue to 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 Borrower and the Senior Lender Creditor have been terminatedterminated or the termination of this Agreement. This Agreement shall constitute is a continuing agreement of subordinationsubordination and Senior Creditor may continue, at any time and the Senior Lender may, without notice to or consent by the Subordinated Creditor, modify to extend credit or other financial accommodations and loan monies to or for the benefit of Borrower or any term of its Affiliates on the Senior Indebtedness faith hereof until this Agreement shall cease to be effective as provided in reliance upon the preceding sentence of this AgreementSection.