Notice of Subordination. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Secured Party pursuant to this Security Agreement and the exercise of any right or remedy by the Secured Party hereunder are subject to the provisions of the Subordination Agreement. In the event of any conflict or inconsistency between the provisions of the Subordination Agreement and this Security Agreement, the provisions of the Subordination Agreement shall control.
Notice of Subordination. The Company and the Junior Creditor shall, contemporaneously with the execution of this Agreement, cause the following legend to be placed on the face of the Subordinated Note: This Promissory Note is subject to a Subordination Agreement dated as of July ___, 2001, in favor of FIRST INDIANA BANK. A photocopy of the Note with such legend endorsed thereon shall immediately be delivered to the Bank. The same legend shall be placed on any Substitute Subordinated Note before it is delivered to the Junior Creditor and a photocopy of any Substitute Subordinated Note shall be delivered to the Bank immediately upon its execution and delivery to the Junior Creditor.
Notice of Subordination. (a) Each Subordinated Lender and the Company will cause any instrument hereafter evidencing any Subordinated Debt to be indorsed with the following legend: "The indebtedness evidenced by this instrument is subordinated to the prior payment in full of the Senior Debt (as defined in the Subordination Agreement 4 hereinafter referred to) pursuant to, and to the extent provided in, the Subordination Agreement, dated as of September __, 2007, made by Clearly Canadian Beverage Corporation, a corporation, incorporated under the laws of British Columbia, Canada, Xxxxx Xxxxxxxx, Xxxx Xxxxxxxx, Xxxx Xxxxxxx and Xxxxx Xxxxxx, each an individual and each initial holder of the Senior Debt." (b) Each Subordinated Lender and the Company will (i) mark its books of account in such a manner as shall be effective to give proper notice of the effect of this Agreement and (ii) upon the request of the Senior Lenders, cause the Subordinated Debt to be evidenced by an appropriate instrument or instruments indorsed with the above legend. Each Subordinated Lender and the Company will, at the Company's expense and at any time and from time to time, promptly execute and deliver all further instruments and other documents, and take all further action, that may be necessary or, in the opinion of the Senior Lenders, desirable, or that the Senior Lenders may request, in order to protect any right or interest granted or purported to be granted hereby or to enable the Senior Lenders to exercise and enforce its rights and remedies hereunder. Section 6.
Notice of Subordination. Borrower shall give notice in the Investment Certificates, Offering Summary and Prospectus that the Investment Certificates are subordinate to all bank indebtedness and that the bank indebtedness is secured by a security interest in all of Borrower's contracts, receivables and their proceeds.
Notice of Subordination. (a) Each Subordinated Lender and the Company will cause any instrument hereafter evidencing any Subordinated Debt to be indorsed with the following legend: "The indebtedness evidenced by this instrument is subordinated to the prior payment in full of the Senior Debt (as defined in the Subordination Agreement hereinafter referred to) pursuant to, and to the extent provided in, the Subordination Agreement, dated as of September __, 2007, made by Clearly Canadian Beverage Corporation, a corporation, incorporated under the laws of British Columbia, Canada, Xxxxx Xxxxxxxx, Xxxx Xxxxxxxx, Xxxx Xxxxxxx and Xxxxx Xxxxxx, each an individual and each initial holder of the Senior Debt."
Notice of Subordination. The Company and the Junior Creditor shall, contemporaneously with the execution of this Agreement, cause the following legend or provision to be included in the Management Agreement: This Management Agreement is subject to a Subordination Agreement dated as of July __, 2001, in favor of FIRST INDIANA BANK. A photocopy of the Management Agreement with such legend endorsed thereon shall immediately be delivered to the Bank.
Notice of Subordination. The Subordinate Agreement, the Subordinate Guarantees and each note or other instrument evidencing subordinate Obligations shall contain the following notations: “This instrument and the rights and obligations evidenced hereby are subordinate in the manner and to the extent set forth in that certain Intercreditor Agreement (as amended, the “Subordination Agreement”) dated as of March 7, 2007 among Bank of America, N.A., as Administrative Agent, EAP Operating, Inc., a Delaware corporation, as Lender, Encore Energy Partners Operating LLC, a Delaware limited liability company, and Encore Energy Partners LP, a Delaware limited partnership, to the Senior Obligations (as defined therein), as more particularly described in the Subordination Agreement, and each holder of this instrument, by its acceptance hereof, shall be bound by the provisions of the Subordination Agreement.
Notice of Subordination. The Subordinated Security Agreement shall, on the date hereof, be inscribed with a legend conspicuously indicating that payment thereof, the liens granted thereunder and the rights and remedies of the holder thereof are subordinated to the claims of the Lender pursuant to the terms of this Agreement.
Notice of Subordination. 33 7.13. Rights not Impaired............................................. 33 7.14.
Notice of Subordination. Each Note will include a legend to ----------------------- the effect that payments in respect of such Note are subordinate to the payment of Senior Debt as herein provided.
