Common use of Failure of Subordination Clause in Contracts

Failure of Subordination. The subordination provisions of the documents and instruments evidencing any 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 9.3.

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 9.3.

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 9.3Section 8.3.

Failure of Subordination. The subordination provisions of the documents and instruments evidencing any Permitted Subordinated Indebtedness shallIndebtedness, 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 9.3Section 8.3.

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 effecteffect and such event shall continue for ten (10) Business Days after the earlier of (1) written notice thereof has been given to the Borrower or (2) any member of senior management of the Borrower has Knowledge thereof. A Default shall be deemed "continuing" until cured or until waived in writing in accordance with SECTION Section 9.3.