Common use of Failure of Subordination Clause in Contracts

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. 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 2,500,000 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. 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.. 70

Failure of Subordination. The subordination provisions of the documents and instruments evidencing the Senior Subordinated Notes or any other Permitted Subordinated Indebtedness in an individual or aggregate principal amount outstanding in excess of $5,000,000 10,000,000 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. The subordination provisions of the documents and instruments evidencing the Senior Subordinated Notes or any other Permitted Subordinated Indebtedness in an individual or aggregate principal amount outstanding in excess of $5,000,000 10,000,000 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. 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.. 397909 Execution Copy 69 ARTICLE IX: ACCELERATION, DEFAULTING LENDERS; WAIVERS, AMENDMENTS AND REMEDIES