Failure of Subordination. Unless otherwise waived or consented to by the Lender in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender in accordance with the terms thereof, or the monetary Obligations shall fail to constitute “Senior Indebtedness” or “Secured Debt” (or similar term) referring to the Obligations; or the Borrower or any of its Subsidiaries shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of any of the Subordination Provisions, (ii) that the Subordination Provisions exist for the benefit of the Lender or (iii) that all payments of principal of or premium and interest on the Subordinated Debt, or realized from the liquidation of any property of any Obligor, shall be subject to any of such Subordination Provisions.
Failure of Subordination. Unless otherwise waived or consented to by the Required Lenders, the Agents and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the "Subordination Provisions") shall fail to be enforceable by the Lenders, the Agents and the Issuers in material accordance with the terms thereof or the monetary Obligations shall fail to constitute "Senior Indebtedness" (or a similar term) referring to the Obligations; or any Obligor shall disavow or contest in any manner, or shall support or fail to contest any holder of Subordinated Debt which disavows or contests in any manner, (i) the effectiveness, validity or enforceability of any of the material Subordination Provisions, (ii) that the Subordination Provisions exist for the benefit of the Lenders, the Agents and the Issuers or (iii) that all payments of principal of or premium and interest on the Subordinated Debt, or realized from the liquidation of any property of any Obligor, shall be subject to any of such Subordination Provisions.
Failure of Subordination. The subordination provisions of the documents and instruments evidencing any Permitted Subordinated Indebtedness in an individual or aggregate principal amount outstanding in excess of $5,000,000 shall, at any time, be invalidated or otherwise cease to be in full force and effect. A Default shall be deemed "continuing" until cured or until waived in writing in accordance with SECTION 9.3.
Failure of Subordination. Unless otherwise waived or consented to by the Administrative Agent and the Lenders in writing,
(a) the payment postponement and subordination provisions relating to any Subordinated Debt (its “Subordination Provisions”) shall fail to be enforceable by the Administrative Agent and the Lenders in accordance with the terms thereof,
(b) the monetary Obligations shall fail to constitute “Senior Indebtedness” (or analogous term) referring to the Obligations, or
(c) the Borrower or any Subsidiaries shall, directly or indirectly, disavow or contest in any manner (x) the effectiveness, validity or enforceability of any Subordination Provision, (y) that the Subordination Provisions exist for the benefit of the Administrative Agent and the Lenders or (z) that all payments of principal of or premium and interest on the Subordinated Debt, or realized from the liquidation of any property of any Obligor, shall be subject to any of such Subordination Provisions.
Failure of Subordination. The subordination provisions of the documents and instruments evidencing any Permitted Subordinated Indebtedness shall, at any time, be invalidated or otherwise cease to be in full force and effect. A Default shall be deemed "continuing" until cured or until waived in writing in accordance with Section 8.3.
Failure of Subordination. Any agreement to subordinate other Indebtedness in an aggregate amount in excess of $1,000,000 in right of payment to the Obligations, at any time and for any reason other than satisfaction in full of all of the Obligations or satisfaction in full of such Subordinated Debt upon the originally stated maturity thereof, ceases to be in full force and effect in any material respect or is declared to be null and void;
Failure of Subordination. The subordination provisions relating to any Subordinated Note Indenture or contained in any Subordinated Notes (the “Subordination Provisions”) shall fail to be enforceable by the Lender Parties (which have not effectively waived the benefits thereof) in accordance with the terms thereof, or the principal or interest on any Loan, Reimbursement Obligation or other monetary Obligations shall fail to constitute Senior Indebtedness, “Senior Debt” or the same (or any other similar) term used to define the monetary Obligations; or any Subordinated Debt Issuer (or guarantor of any Subordinated Debt) shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of any of the Subordination Provisions, or (ii) that any of such Subordination Provisions exist for the benefit of the Lender Parties.
Failure of Subordination. The subordination provisions of any agreement, document or instrument governing any Indebtedness having an aggregate outstanding principal amount in excess of the Threshold Amount that is contractually subordinated in right of payment to Obligations, shall for any reason (except in accordance with its terms) be revoked or invalidated, or otherwise cease to be in full force and effect.
Failure of Subordination. (i) Any of the Obligations of the Credit Parties under the Credit Documents for any reason shall cease to be “Senior Indebtedness” (or any comparable term) or “Senior Secured Financing” (or any comparable term) under, and as defined in any Permitted Subordinated Indebtedness Documentation or (ii) the subordination provisions set forth in any Permitted Subordinated Indebtedness Documentation shall, in whole or in part, cease to be effective or cease to be legally valid, binding and enforceable against the holders of any Permitted Subordinated Indebtedness, if applicable; or
Failure of Subordination. Any agreement to subordinate other ------------------------ Indebtedness in right of payment to the Obligations, at any time and for any reason other than satisfaction in full of all of the Obligations or satisfaction in full of the subordinated Indebtedness upon the stated maturity thereof, whether incorporated in the Intercreditor Agreement or in the indenture or agreement governing, or instrument evidencing, such subordinated Indebtedness, ceases to be in full force and effect or is declared to be null and void; or any holder of subordinated Indebtedness repudiates or disavows such subordination or denies that it has any further liability or obligation under such subordination agreement or gives notice to such effect;
