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.
Appears in 9 contracts
Samples: Information Services Franchise Agreement, Information Services Franchise Agreement, Information Services Franchise Agreement
