Common use of JUNIOR CREDITOR'S UNDERTAKINGS Clause in Contracts

JUNIOR CREDITOR'S UNDERTAKINGS. So long as any Senior Debt is outstanding and until the Senior Liabilities have been irrevocably paid in full, except as permitted under the Finance Documents or except as the Facility Agent (acting on the instructions of the Majority Banks) has previously consented, the Junior Creditor will: (a) subject to Clause 5 (Subordination on Insolvency), not demand or receive payment of any of the Junior Debt from the Company or any other source or apply any money or assets in discharge of any Junior Debt; (b) except for Permitted Payments, not discharge any of the Junior Debt by set-off; (c) not permit to subsist or receive any security for any of the Junior Debt; (d) not permit to subsist or receive any guarantee, indemnity or other assurance against loss in respect of any of the Junior Debt; (e) not amend, vary, waive or release any term of the Junior Finance Document (other than any procedural or administrative change or any other change which can reasonably be expected not to prejudice any Senior Debt or any Finance Party); (f) promptly notify the Facility Agent of any default or event of default in respect of the Junior Debt; (g) unless Clause 5 (Subordination on Insolvency) applies, not: (i) declare any of the Junior Debt prematurely due and payable; (ii) enforce the Junior Debt by execution or otherwise; or (iii) initiate or take any steps with a view to any insolvency, reorganisation or dissolution proceedings in respect of the Company; (h) not take or omit to take any action whereby the subordination achieved by this Deed may be impaired; and (i) not refuse to register any holder of the shares in the Junior Creditor as a shareholder.

JUNIOR CREDITOR'S UNDERTAKINGS. So long as any Senior Debt is outstanding and until the Senior Liabilities have been irrevocably paid in full, except except, as permitted under the Finance Documents or except as the Facility Agent (acting on the instructions of the Majority Banks) has previously consented, the Junior Creditor will: (a) subject to Clause 5 (Subordination on Insolvencyinsolvency), not demand or receive payment of any of the Junior Debt from the Company or any other source or apply any money or assets in discharge of any Junior Debt; ; (b) except for Permitted Payments, not discharge any of the Junior Debt by set-off; ; (c) not permit to subsist or receive any security for any of the Junior Debt; ; (d) not permit to subsist or receive any guarantee, indemnity guarantee or other assurance against loss in respect of any of the Junior Debt; ; (e) not amend, vary, waive or release any term of the Junior Finance Document Documents (other than any procedural or administrative change or any other change which can reasonably be expected not to prejudice any Senior Debt or any Finance Party); ; (f) promptly notify the Facility Agent of any default or event of default in respect of the Junior Debt; ; (g) unless Clause 5 (Subordination on Insolvencyinsolvency) applies, not: (i) declare any of the Junior Debt prematurely due and payable; ; (ii) enforce the Junior Debt by execution or otherwise; or or (iii) initiate iii)initiate or take any steps with a view to any insolvency, reorganisation or dissolution proceedings in respect of the Company; ; and (h) not take or omit to take any action whereby the subordination achieved by this Deed may be impaired; and (i) not refuse to register any holder of the shares in the Junior Creditor as a shareholder. 4.

JUNIOR CREDITOR'S UNDERTAKINGS. So long as any Senior Debt is outstanding and until the Senior Liabilities have been irrevocably paid in full, except except, as permitted under the Finance Documents or except as the Facility Agent (acting on the instructions of the Majority Banks) has previously consented, the Junior Creditor will: (a) subject to Clause 5 (Subordination on Insolvencyinsolvency), not demand or receive payment of any of the Junior Debt from the Company or any other source or apply any money or assets in discharge of any Junior Debt; ; (b) except for Permitted Payments, not discharge any of the Junior Debt by set-off; ; (c) not permit to subsist or receive any security for any of the Junior Debt; ; (d) not permit to subsist or receive any guarantee, indemnity guarantee or other assurance against loss in respect of any of the Junior Debt; ; (e) not amend, vary, waive or release any term of the Junior Finance Document Documents (other than any procedural or administrative change or any other change which can reasonably be expected not to prejudice any Senior Debt or any Finance Party); ; (f) promptly notify the Facility Agent of any default or event of default in respect of the Junior Debt; ; (g) unless Clause 5 (Subordination on Insolvencyinsolvency) applies, not: (i) declare any of the Junior Debt prematurely due and payable; ; (ii) enforce the Junior Debt by execution or otherwise; or or (iii) initiate or take any steps with a view to any insolvency, reorganisation or dissolution proceedings in respect of the Company; ; and (h) not take or omit to take any action whereby the subordination achieved by this Deed may be impaired; and (i) not refuse to register any holder of the shares in the Junior Creditor as a shareholder. 4.