No Payment Upon Senior Debt Defaults. Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, each Obligor shall not make, and each other Obligor shall not accept or receive, any Subordinated Debt Payment.
Appears in 6 contracts
Samples: Intercompany Subordination Agreement (Composite Technology Corp), Intercompany Subordination Agreement (Elgar Holdings Inc), Subordination Agreement (Fitzgeralds Gaming 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, each Obligor shall not make, and each other Obligor shall not accept or receive, any Subordinated Debt Payment, unless otherwise expressly permitted by the Agents in their discretion.
Appears in 1 contract
Samples: Subordination Agreement (Global Geophysical Services 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, each Obligor shall not make, and each other Obligor shall not accept or receive, any Subordinated Debt PaymentPayment (except for Subordinated Debt Payments expressly permitted under clause (f) of the definition of Permitted Investments in the Loan Agreement).
Appears in 1 contract
Samples: Intercompany Subordination Agreement (Mortons Restaurant Group Inc)
