No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default with respect to any Senior Debt and the Subordinated Creditor for Subordinated Debt shall have received written notice from the Agent, each Subordinated Creditor shall not make, and each other Subordinated Creditor shall not accept or receive, any Subordinated Debt Payment.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (Fifth Street Asset Management Inc.), Amendment No. 4 (Ares Management Lp)
No Payment Upon Senior Debt Defaults. Upon the occurrence and during the continuance of any Event of Default with respect to any Senior Debt and the Subordinated Creditor for Subordinated Debt Borrower shall have received written notice from the Agent, each Subordinated Creditor Borrower shall not make, and each other Subordinated Creditor Guarantor shall not accept or receive, any Subordinated Debt Payment.
Appears in 2 contracts
Samples: Intercompany Subordination Agreement (Ares Commercial Real Estate Corp), Intercompany Subordination Agreement (Ares Commercial Real Estate Corp)
