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 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 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 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 Subordination Agreement shall be ---------------------------------- effective and may not be terminated or otherwise revoked by the Junior Subordinated Creditor until the all Senior Debt shall have been indefeasibly fully paid in full in cash and satisfied with interest and all financing arrangements among Debtor Parties and the between Senior Creditor and Issuer shall 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 that Subordinated Creditor shall have any right under applicable law otherwise to terminate or revoke this Agreement Subordination 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 Subordinated Creditor are actually received by the Senior Creditor's officer responsible for such matters Creditor by written notice given in accordance with this Subordination Agreement. In the absence of the circumstances described in the immediately preceding sentencesuch non-waivable right to revoke or terminate, this Subordination Agreement is a continuing agreement of subordination subordination, and the Senior Creditor may continue, at any time and without notice to the Junior Creditor, Subordinated Creditor to extend credit or other financial accommodations and loan monies to or for the benefit of a Debtor Party Issuer on the faith hereof subject to the terms of Section 2.10 hereof. Any termination or revocation described hereinabove shall not affect this Subordination Agreement in relation to to: (a) any of the Senior Debt which that arose or was committed to prior to receipt thereof, of the above-referenced notice of revocation or termination or (b) any of the Senior Debt created after receipt thereof thereof, if such Senior Debt is Preservation was incurred pursuant to Senior Creditor’s committed financing arrangements with Issuer and/or for the purpose of protecting any assets of Issuer securing the Senior Debt.