No Debt Subordination. Nothing contained in this Agreement is intended to subordinate any debt claim by a Second Lien Secured Party to a debt claim by a First Lien Secured Party. All debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu.
No Debt Subordination. Nothing in this Agreement shall be construed to be or operate as a subordination of any of the Senior Obligations to the Trade Obligations, or vice versa.
No Debt Subordination. Nothing in this Agreement shall be construed to be or operate as a subordination of any of the Obligations owed to a Secured Creditor in right of payment to the Obligations owed to any other Secured Creditor.
No Debt Subordination. Nothing contained in this Agreement is intended to subordinate any debt claim by a Second Lien Secured Party to a debt claim by a First Lien Secured Party. All debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu. Nothing in this Agreement will affect the entitlement of any Second Lien Secured Party to receive and retain required payments of interest, principal, and other amounts in respect of a Second Lien Obligation, unless the receipt is expressly prohibited by, or results from the Second Lien Secured Party’s breach of, this Agreement.
No Debt Subordination. Nothing in this Agreement shall be deemed to subordinate the right of the ABL Lenders or the Term Loan Lenders to receive payment, whether before or after the occurrence of any default, event of default or insolvency proceeding (other than payments from Collateral, to the extent contrary to the provisions of this Agreement).
No Debt Subordination. 6 Section 2.3. Restrictions on Enforcement Action .................................................... 6 Section 2.4. No Restriction on Terms of Power Purchase Agreements................... 6
No Debt Subordination. Subject to the provisions of Section 4.2, nothing contained in this Agreement is intended to subordinate any claim for payment by a holder of Junior Claims to a claim for payment by a holder of Senior Claims so long as such receipt is not the direct or indirect result of the exercise by the Applicable Secured Party of rights or remedies as a secured creditor or enforcement of any Lien held by such Secured Party in contravention of this Agreement .
No Debt Subordination. Nothing contained in this Agreement shall constitute a subordination of the Subordinated Lienholder Obligations to the prior payment in full of the Senior Lienholders Obligations. Notwithstanding the existence of a Remedies Block, unless an Enforcement Action is pending, this Agreement shall not prohibit a Credit Party from making any regularly scheduled or other ordinary course voluntary payments on the Subordinated Lienholder Obligations in accordance with the Subordinated Lienholder Documents, other than from the proceeds of Collateral, as permitted by Section 8.3 hereof.
No Debt Subordination. Nothing in this Intercreditor Agreement shall be deemed to subordinate the right of the Term Loan Lenders to receive payment, whether before or after the occurrence of any default, event of default or Insolvency Proceeding (other than payments from Collateral, to the extent contrary to the provisions of Section 2.1), it being the intent of the parties hereto that, to the extent provided in this Intercreditor Agreement, (a) the Lien of the Term Loan Agent with respect to the Collateral shall, to the extent valid, perfected, enforceable and not avoided, be junior and have its priority and preference of rank ceded to the Lien of the Revolving Credit Agent with respect to the Collateral to the extent of the respective Lien priorities set forth in Section 2 of this Intercreditor Agreement, and (b) the Lien of the Revolving Credit Agent with respect to the Collateral shall, to the extent valid, perfected, enforceable and not avoided, shall be senior and have priority and preference of rank to the Lien of the Term Loan Agent with respect to the Collateral to the extent of the respective Lien priorities set forth in Section 2 of this Intercreditor Agreement.
No Debt Subordination. Nothing in this Agreement shall be construed to be or operate as a subordination of any of the Noteholder Debt to any of the Revolver Lender Debt, or vice versa.
