Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least 10 days prior to the date of any of such intended disposition.
Modification or Sale of the Subordinated Debt. The Subordinating Creditor will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents without the prior written consent of the Agent, which consent shall not be unreasonably withheld or delayed; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any Person other than a Person who agrees in writing, reasonably satisfactory in form and substance to Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least ten (10) days prior to the date of any such intended disposition.
Modification or Sale of the Subordinated Debt. No Subordinated Creditor will, at any time while this Agreement is in effect, modify any of the terms of any of its Subordinated Debt or any of its Subordinated Documents; nor will such Subordinated Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of its Subordinated Debt unless such Subordinated Creditor provides prior written notice of such event to the Senior Creditors and the person or entity acquiring such interest in such Subordinated Debt enters into a subordination agreement with the Senior Creditors in the form of this Agreement along with any other documents and/or agreements reasonably requested by the Senior Creditors. Any transfer in violation of this Agreement shall be void ab initio.
Modification or Sale of the Subordinated Debt. No Subordinating Creditor will, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Agreements with respect to the Subordinated Debt; nor will any Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any Person other than a Person who agrees in a writing, reasonably satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of such Subordinating Creditor hereunder.
Modification or Sale of the Subordinated Debt. The Subordinating Lender will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Debt Documents in a manner that would materially and adversely affect the rights of the Secured Parties without the prior written consent of the Administrative Agent; nor will the Subordinating Lender sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Administrative Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of the Subordinating Lender hereunder. In the case of any such disposition by the Subordinating Lender, the Subordinating Lender will notify the Administrative Agent at least ten (10) days prior to the date of any of such intended disposition.
Modification or Sale of the Subordinated Debt. The Subordinated Agreement may be amended or modified without the consent of the Senior Bank, except for any of the following amendments or modifications, which will require the Senior Bank's prior written consent:
Modification or Sale of the Subordinated Debt. The Subordinating Creditors will not, at any time while this Agreement is in effect, (i) without the prior written consent of Bank, agree to any amendment, modification or supplement to the Subordinated Debt or any of the Subordinated Documents, the effect of which is to (a) increase the principal amount of the Subordinated Debt or rate of interest on any of the Subordinated Debt (it being understood that invoking a default or overdue rate set forth in the Subordinated Documents shall not be restricted hereunder, provided that its payment is subject to the terms of this Agreement), (b) accelerate the dates upon which payments on or redemptions of Subordinated Debt are due, (c) add or make more burdensome any event of default or any covenant with respect to the Subordinated Debt, (d) make more burdensome the redemption or prepayment provisions of the Subordinated Debt, (e) change or amend any other term of the Subordinated Documents if such change or amendment would increase in any material respect the obligations of the Borrower or confer additional material rights on any of the Subordinating Creditors or any other holder of the Subordinated Debt or would be in any manner adverse to the holders of Senior Debt, or (f) take any liens or security interests in any assets of the Borrower or its Subsidiaries or any other assets securing the Senior Debt, or (ii) sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, reasonably satisfactory in form and substance to the Bank, to become a party hereto and to be bound by all of the obligations of the Subordinating Creditors hereunder. In the case of any such disposition by the Subordinating Creditors, the Subordinating Creditors will notify the Bank at least fifteen (15) days prior to the date of any such intended disposition.
Modification or Sale of the Subordinated Debt. Neither the Collateral Agent nor any Subordinating Creditor will, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents with respect to the Subordinated Debt; nor will any Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt (other than the Subordinated Debt evidenced by the "Notes" issued under the Indenture) to any person other than a person who agrees in a writing, reasonably satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of such Subordinating Creditor hereunder; PROVIDED, HOWEVER any sale, transfer, pledge, assignment, hypothecation or other disposal of the "Notes" issued under the Indenture shall remain at all times subject to Section 3.02 of the Indenture ("Ranking; Subordination")."
Modification or Sale of the Subordinated Debt. Neither SAC nor any Subordinating Creditor will, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents; nor will SAC and any Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of SAC or such Subordinating Creditor hereunder. In the case of any such disposition by SAC or a Subordinating Creditor, SAC will notify the Agent at least 10 days prior to the date of any of such intended disposition.
Modification or Sale of the Subordinated Debt. No Subordinating Party will, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents; nor will any Subordinating Party sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of a Subordinating Party hereunder. In the case of any such disposition by any Subordinating Party, such Subordinating Party will notify the Agent at least ten (10) days prior to the date of any of such intended disposition.
