Nature of Senior Indebtedness. The Subordinated Agent, for and on behalf of itself and the Subordinated Lenders, acknowledges and agrees that no application of any Payment Collateral or Cash Collateral by the Senior Agent or the release of any Lien by the Senior Agent upon any portion of the Collateral in connection with any disposition of assets pursuant to Section 4.15 of the Original NIA shall constitute the Exercise of Secured Creditor Remedies under this Subordination Agreement.
Appears in 4 contracts
Samples: Intercreditor and Subordination Agreement (Appgate, Inc.), Note Issuance Agreement (Appgate, Inc.), Intercreditor and Subordination Agreement (Appgate, Inc.)
Nature of Senior Indebtedness. The Each Subordinated Agent, for and on behalf of itself and the Subordinated Lenders, acknowledges and agrees that no application of any Payment Collateral or Cash Collateral by the Senior Agent or the release of any Lien by the Senior Agent upon any portion of the Collateral in connection with any disposition of assets pursuant to Section 4.15 of the Original Senior NIA shall constitute the Exercise of Secured Creditor Remedies under this Subordination Agreement.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (Appgate, Inc.)
