No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no Obligor shall make, and no Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 4 contracts
Samples: Intercompany Subordination Agreement, Intercompany Subordination Agreement (Velocity Express Corp), Intercompany Subordination Agreement (Velocity Express Corp)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no Obligor Debtor shall make, and no Obligor other Debtor shall accept or receive, any Subordinated Debt Payment.
Appears in 3 contracts
Samples: Intercompany Subordination Agreement (Hudson Respiratory Care Inc), Intercompany Subordination Agreement (River Holding Corp), Intercompany Subordination Agreement (Hudson Respiratory Care Inc)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no Obligor shall make, and no other Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 2 contracts
Samples: Intercompany Subordination Agreement (155 East Tropicana, LLC), Intercompany Subordination Agreement (Oasis Interval Ownership, LLC)
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default, and until such Event of Default is cured or waived, no Obligor shall make, and no Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
No Payment Upon Senior Debt Defaults. Upon the occurrence of So long as any Event of Default, Default has occurred and until such Event of Default is cured or waived, continuing no Obligor shall make, and no other Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Financing Agreement (GP Investments Acquisition Corp.)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, except for Subordinated Debt Payments made (i) to a Borrower or (ii) in connection with any transaction permitted under Section 7.3(a) of the Loan Agreement, no Obligor shall make, and no Obligor or Subsidiary shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (SMART Modular Technologies (DE), Inc.)
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default, and until such Event of Default is cured or waived, no Obligor shall make, and no other Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Jack Cooper Logistics, LLC)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no Obligor the Borrower shall not make, and no Obligor the Creditor shall not accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default, and until such Event of Default is cured or waived, no Obligor Payor Company shall make, and no Obligor Payee Company shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (American Commercial Lines Inc.)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no each Obligor shall not make, and no each other Obligor shall not accept or receive, any Subordinated Debt Payment, except to the extent expressly permitted by the Loan Agreement.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Star Telecommunications Inc)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of DefaultDefault (as defined in each of the Loan Agreements), and until such Event of Default is cured or waived, no each Obligor shall not make, and no each other Obligor shall not accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Midway Games Inc)
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default, and until such Event of Default is cured or waived, no Obligor that is a Loan Party shall make, and no other Obligor shall accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Troika Media Group, Inc.)
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of DefaultDefault and receipt of notice thereof from the Collateral Agent, and until such Event of Default is cured or waived, no each Obligor shall not make, and no each other Obligor shall not accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default, and until such Event of Default is cured or waived, no each Obligor shall not make, and no each other Obligor shall not accept or receive, any Subordinated Debt Payment.
Appears in 1 contract
No Payment Upon Senior Debt Defaults. Upon the occurrence of any Default or Event of Default, and until such Default or Event of Default is cured or waived, no each Obligor shall not make, and no each other Obligor shall not accept or receive, any Subordinated Debt Payment, except to the extent expressly permitted pursuant to the Credit Agreement.
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Newegg Commerce, Inc.)
