NO SUBORDINATION. There is no agreement, indenture, contract or instrument to which Borrower is a party or by which Borrower may be bound that requires the subordination in right of payment of any of Borrower's obligations subject to this Agreement to any other obligation of Borrower.
NO SUBORDINATION. There is no agreement, indenture, contract or instrument to which Borrower or any Subsidiary Guarantor is a party or by which Borrower or any Subsidiary Guarantor may be bound that requires the subordination in right of payment of any of Borrower’s or any Subsidiary Guarantor’s obligations subject to this Agreement to any other obligation of Borrower or any Subsidiary Guarantor.
NO SUBORDINATION. There is no agreement, indenture, contract or instrument to which it or any Subsidiary is a party or by which it or any Subsidiary may be bound that requires the subordination in right of payment of any of its obligations subject to this Agreement to any other obligation of it or such Subsidiary.
NO SUBORDINATION. There is no agreement, indenture, contract or instrument to which any Loan Party is a party or by which any Loan Party may be bound that requires the subordination in right of payment of any of the Obligations or any other obligation of such Loan Party.
NO SUBORDINATION. 7.8.1. Notwithstanding any other provision of this Agreement, the Company shall not enter into any agreement with any Person granting an encumbrance, lien, or other interest in the System of any type or any kind that would affect the rights or interests of the City under the terms of this Agreement. For the avoidance of doubt, the City’s rights in the event of default, termination or expiration, the City’s rights to payment, and the Company’s obligation to maintain the Security Fund will remain superior in interest to that of any Person under any and all sets of circumstance, including without limited, any case or proceeding involving the Company under the United States Bankruptcy Code, 11 U.S.C. sections 101 et seq. and any action to enforce any agreement to which the Company is a party. For the further avoidance of doubt, this provision is intended to constitute a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code and to be enforceable as set forth therein.
7.8.2. In the event that the Company has entered or will enter into any agreement with any Person granting an encumbrance, lien, or other interest in the System of any type or kind, the Company shall include in such agreement a provision substantially in the form of the following: “Notwithstanding any other provision of this Agreement, nothing herein shall create an encumbrance in any assets of the Company that would affect the rights or interests of the City of New York (“the City”) under the terms of the Information Services Franchise Agreement by and between the Company and the City, including but not limited to the City’s rights upon default, termination, or expiration. For the avoidance of doubt, the City’s rights and interests under the Information Services Franchise Agreement will not be altered or impaired by the transactions contemplated by this Agreement, including without limitation, any case or proceeding involving the Company under the United States Bankruptcy Code, 11 U.S.C. sections 101 et seq. and any action to enforce any agreement among the parties hereto. Furthermore, the parties agree that this Agreement will be read in such manner as to be consistent with the City’s and the Company’s rights or obligations under the Information Services Franchise Agreement. In the event of a conflict, the Information Services Franchise Agreement will be given greater effect and take precedence over the terms and conditions of this Agreement.”
NO SUBORDINATION. City shall not subordinate the fee title to the Premises to any security transaction to enable Tenant to obtain financing for the new improvements. The Premises are now and shall remain free and clear of any liens, encumbrances or other Tenant obligations to third person.
NO SUBORDINATION. Except for the Existing Bonds and agreements governing the Permitted Encumbrances, there is no agreement, indenture, contract or instrument to which the Borrower is a party or by which the Borrower may be bound that requires the subordination in right of payment of the Borrower’s Obligations subject to this Agreement to any other obligation of such Borrower.
NO SUBORDINATION. The obligations of Borrower under this Agreement, are not subordinated in right of payment or in lien priority to any obligation of Borrower.
NO SUBORDINATION. There is no agreement, indenture, contract or instrument to which any Borrower or any Domestic Subsidiary is a party or by which any Borrower or any Domestic Subsidiary may be bound that requires the subordination in right of payment of any Borrower’s or any Domestic Subsidiary’s obligations subject to this Agreement to any other obligation of any Borrower or any Domestic Subsidiary.
NO SUBORDINATION. Mezzanine Borrower shall not permit Mortgage Borrower to consent to the subordination of the Operating Agreements to any mortgage or other lease of the fee interest in any portion of the Property, other than the Security Instruments and as permitted hereunder pursuant to Section 8.8.10 of the Loan Agreement (Mortgage).
