Common use of New Subordinated Creditor Clause in Contracts

New Subordinated Creditor. If the Company or any other member of the Group becomes a borrower in respect of any Subordinated Funding (as defined in the Senior Facilities Agreement), the Company may procure that the entity giving that loan, granting that credit or making available any other financial accommodation (if not already a Party as a Subordinated Creditor) accedes to this Agreement as a Subordinated Creditor in accordance with Clause 23.13 (Creditor Accession Undertaking) contemporaneously with the incurrence of such indebtedness (or has otherwise subordinated that indebtedness to the Liabilities owing to the Primary Creditors in a manner satisfactory to the Primary Creditors).

New Subordinated Creditor. If the Company or any other member of the Group becomes a borrower in respect of any Subordinated Funding (as defined in the Senior Facilities Agreement), the Company 222 may procure that the entity giving that loan, granting that credit or making available any other financial accommodation (if not already a Party as a Subordinated Creditor) accedes to this Agreement as a Subordinated Creditor in accordance with Clause 23.13 (Creditor Accession Undertaking) contemporaneously with the incurrence of such indebtedness (or has otherwise subordinated that indebtedness to the Liabilities owing to the Primary Creditors in a manner satisfactory to the Primary Creditors).