Common use of Failure of Subordination Clause in Contracts

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 Lender in writing, the The subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent, the Lenders or the Issuers 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 Administrative Agent, the Lenders 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. 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 Holdings, the Borrower or any of its their respective 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 Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 Xxxx-Xxxxx 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Agents, each Lender and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Agents, the Lenders and the Issuers 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 Holdings, either Borrower or any of its their respective 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 Agents, the Lenders 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. Unless otherwise waived or consented to by the Lender in writing, the The subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail for any reason be revoked or invalidated or otherwise cease to be in full force and effect or to be enforceable by the Lender Lenders, the Agents and the Issuers in material accordance with the terms thereof, thereof or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " (or a similar term) referring to the Obligations; or the Borrower or any Obligor of its Subsidiaries shall, directly or indirectly, Subordinated Debt shall disavow or contest 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 Lender 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 any 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Secured Parties in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Secured Parties in accordance with the terms thereof, thereof or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " (or a similar term) referring to the Obligations; or the Borrower or any of its Subsidiaries Obligor 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 Secured Parties 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 Lender Administrative Agent, the Lenders and the Issuer in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuer 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 Domestic 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers in accordance with the terms thereof, or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " and "Designated Senior Debt" (or similar termterms) referring to under the Obligationsapplicable Subordination Provisions; 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 Administrative Agent, the Lenders 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 the applicable Subordination Provisions.

Failure of Subordination. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”"SUBORDINATION PROVISIONS") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”"SUBORDINATION PROVISIONS") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 Administrative Agent, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent and the Lenders in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent and the Lenders 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 Parent 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 Administrative Agent and the Lenders 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 Lender Secured Parties in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Secured Parties in accordance with the terms thereof, thereof or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " (or a similar term) referring to the Obligations; or the Borrower any Obligor or holder of Subordinated Debt shall breach any Subordination Provision or any of its Subsidiaries Obligor 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 Secured Parties 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 Lender Secured Parties in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Secured Parties in accordance with the terms thereof, thereof or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " (or a similar term) referring to the Obligations; or the Borrower any Obligor or holder of Subordinated Debt shall breach any Subordinated Provision or any of its Subsidiaries Obligor 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 Secured Parties 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 Lender Administrative Agents, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt in excess of C$10,000,000 (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agents, the Lenders and the Issuers 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 ACT 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 Administrative Agents, the Lenders 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. Unless otherwise waived or consented to by the Lender Agents and the Required Lenders in writing, the subordination provisions relating to any Senior Subordinated Debt Notes or Parent Debentures (the “Subordination Provisions”"SUBORDINATION PROVISIONS") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers in accordance with the terms thereof, or the monetary Obligations shall fail to constitute “"Designated Senior Indebtedness” or “Secured Debt” (or similar term) referring to the Obligations"; or the Borrower Parent 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 Parties or (iii) that all payments of principal of or premium and interest on the such Subordinated Debt, or realized from the liquidation of any property of any Obligor, Debt shall be subject to any of such Subordination Provisions.

Failure of Subordination. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuer in writing, the subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuer 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 any 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 Administrative Agent, the Lenders and the Issuer 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 Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers 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 (ia) the effectiveness, validity or enforceability of any of the Subordination Provisions, (iib) that the Subordination Provisions exist for the benefit of the Lender Administrative Agent, the Lenders and the Issuers or (iiic) 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 Lender Agents, all of the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Agents, the Lenders and the Issuers 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 Holdings, the Borrower Company or any of its their respective Restricted 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 Agents, the Lenders 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. Unless otherwise waived or consented to by the Lender Administrative Agent, the Lenders and the Issuers in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers in accordance with the terms thereof, or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " and "Designated Senior Debt" (or similar termterms) referring to under the Obligationsapplicable Subordination Provisions; 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 Administrative Agent, the Lenders 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 the applicable Subordination Provisions.. -100- 106

Failure of Subordination. Unless otherwise waived or consented to by the Lender Agents and the Required Lenders in writing, the subordination provisions relating to any Subordinated Debt or the Affiliate Preferred Stock (the “Subordination Provisions”) shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuers in accordance with the terms thereof, or the monetary Obligations shall fail to constitute “Senior Indebtedness” or “Secured Debt” (or similar term) or “Senior Debt” referring to the Obligations; or the Borrower Parent 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 Secured Parties 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 Lender Administrative Agent, the Lenders and the Issuer in writing, the subordination provisions relating to any Subordinated Debt (the “"Subordination Provisions”") shall fail to be enforceable by the Lender Administrative Agent, the Lenders and the Issuer 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 such Obligations; or the Borrower Company or any of its Subsidiaries shall, directly or indirectly, disavow or contest in any manner (ia) the effectiveness, validity or enforceability of any of the Subordination Provisions, (iib) that the Subordination Provisions exist for the benefit of the Lender Administrative Agent, the Lenders and the Issuer or (iiic) 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 Lender 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 Lender Lenders, the Agents and the Issuers in material accordance with the terms thereof, thereof or the monetary Obligations shall fail to constitute “"Senior Indebtedness” or “Secured Debt” " (or a similar term) referring to the Obligations; or the Borrower any Obligor or any holder of its Subsidiaries shall, directly or indirectly, Subordinated Debt shall disavow or contest 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 Lender 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.