Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of default under the terms of the Superior Indebtedness in favor of Lender.
Appears in 6 contracts
Samples: Subordination Agreement, Subordination Agreement (Blonder Tongue Laboratories Inc), Subordination Agreement (Blonder Tongue Laboratories Inc)
Default by Borrower. If Borrower Xxxxxxxx becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an en event of default under the terms of the Superior Indebtedness in favor of Lender.Xxxxxx,
Appears in 1 contract
Default by Borrower. If Borrower Xxxxxxxx becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. effect Any default by Borrower under the terms of the Subordinated Indebtedness also shall constitute an event of default under the terms of the Superior Indebtedness in favor of LenderXxxxxx.
Appears in 1 contract
Samples: Subordination Agreement (Pacifichealth Laboratories Inc)
Default by Borrower. If Borrower becomes insolvent or bankrupt, this Agreement shall remain in full force and effect. Any default by Borrower under the terms of the Subordinated Indebtedness lndebtedness also shall constitute an event of default under the terms of the Superior Indebtedness lndebtedness in favor of Lender.
Appears in 1 contract
