Common use of Events of Subordination Clause in Contracts

Events of Subordination. (a) In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company or any Subsidiary of the Company or any of their respective debts, whether voluntary or involuntary, in any Proceeding of the Company or any Subsidiary of the Company or otherwise, the Lenders shall be entitled to receive indefeasible payment in full in cash of the Obligations before the Subordinated Creditor is entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding (including any payment that may be payable by reason of any other indebtedness of the Company being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, be paid or delivered directly to the Administrative Agent for the account of the Lenders for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurred.

Events of Subordination. (a) In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company or any Subsidiary of the Company or any of their respective debts, whether voluntary or involuntary, in any Proceeding of the Company or any Subsidiary of the Company or otherwise, the Lenders shall be entitled to receive indefeasible payment in full in cash of the Obligations before the Subordinated Creditor is entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding (including any payment that may be payable by reason of any other indebtedness of the Company being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, be paid or delivered directly to the Administrative Agent Lender for the account of the Lenders for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurred.

Events of Subordination. (a) In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company any Obligor or any Subsidiary of the Company or any of their respective its debts, whether voluntary or involuntary, in any Proceeding bankruptcy, insolvency, arrangement, reorganization, receivership, relief or other similar case or proceeding under any Debtor Relief Law or upon an assignment for the benefit of creditors or any other marshalling of the Company or assets and liabilities of any Subsidiary of the Company Obligor or otherwise, the Lenders Secured Parties shall be entitled to receive indefeasible payment in full in cash of the Obligations before the any Subordinated Creditor is entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding case, proceeding, assignment, marshalling or otherwise (including any payment that may be payable by reason of any other indebtedness of the Company such Obligor being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, shall be paid or delivered directly to the Administrative Agent for the account of the Lenders Secured Parties for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurredRelease Date.

Events of Subordination. (a) In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company or any Subsidiary of the Company or any of their respective debts, whether voluntary or involuntary, in any Proceeding of the Company or any Subsidiary of the Company or otherwise, the Lenders shall be entitled to receive indefeasible payment in full in cash of the Obligations before the Subordinated Creditor is Creditors are entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding (including any payment that may be payable by reason of any other indebtedness of the Company being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, be paid or delivered directly to the Administrative Agent for the account of the Lenders for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurred.

Events of Subordination. (a) a. In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company or any Subsidiary of the Company or any of their respective debts, whether voluntary or involuntary, in any Proceeding of the Company or any Subsidiary of the Company or otherwise, the Lenders shall be entitled to receive indefeasible payment in full in cash of the Obligations before the Subordinated Creditor is Creditors are entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding (including any payment that may be payable by reason of any other indebtedness of the Company being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, be paid or delivered directly to the Administrative Agent for the account of the Lenders for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurred.

Events of Subordination. (a1) In the event of any dissolution, winding up, liquidation, arrangement, reorganization, adjustment, protection, relief or composition of the Company or any Subsidiary of the Company or any of their respective debts, whether voluntary or involuntary, in any Proceeding of the Company or any Subsidiary of the Company or otherwise, the Lenders shall be entitled to receive indefeasible payment in full in cash of the Obligations before the Subordinated Creditor is Creditors are entitled to receive any payment of all or any of the Subordinated Debt, and any payment or distribution of any kind (whether in cash, property or securities) that otherwise would be payable or deliverable upon or with respect to the Subordinated Debt in any such Proceeding (including any payment that may be payable by reason of any other indebtedness of the Company being subordinated to payment of the Subordinated Debt) shall, subject to the following sentence, be paid or delivered directly to the Administrative Agent for the account of the Lenders for application (in the case of cash) to, or as collateral (in the case of non-cash property or securities) for, the payment or prepayment of the Obligations until the Obligations shall have been paid indefeasibly in full in cash and the Credit Agreement Termination Date to have occurred.