General Covenants of Subordinated Creditor Sample Clauses

General Covenants of Subordinated Creditor. Subordinated Creditor covenants with, and for the exclusive benefit of, Lender and any subsequent holders of the Senior Debt that: (a) for so long as any portion of the Senior Debt remains outstanding and unpaid, Subordinated Creditor shall not hold any pledge, mortgage, grant, security interest or other lien in or on any of the Collateral; (b) Subordinated Creditor shall not permit, consent to or otherwise suffer any amendment, modification or change to the terms and conditions of any of the Subordinated Loan Documents without the prior written consent of Lender; and (c) Subordinated Creditor shall not in any manner or respect assert or seek to enforce by legal proceedings or otherwise, any rights which Subordinated Creditor may have against Borrower under the Subordinated Debt, except as otherwise permitted herein.
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