Other Subordinated Indebtedness Clause Samples
The 'Other Subordinated Indebtedness' clause defines and governs the treatment of additional debts that are ranked below senior obligations in terms of repayment priority. This clause typically specifies what types of debt qualify as subordinated, outlines the conditions under which such debts may be incurred, and clarifies their ranking relative to other liabilities in the event of liquidation or bankruptcy. Its core function is to ensure that lenders and other stakeholders understand the hierarchy of claims, thereby managing risk and preventing disputes over repayment order.
Other Subordinated Indebtedness. This Note shall rank on a parity with all other of the Company's Subordinated Convertible Notes.
Other Subordinated Indebtedness. (i) other unsecured Indebtedness of the Borrowers to the extent not permitted by any of the foregoing clauses, provided that (A) no Default or Event of Default shall then exist or immediately after incurring any of such Indebtedness will exist, (B) all of such Indebtedness shall be Subordinated at all times, (C) the Borrowers and their Subsidiaries shall be in compliance with the financial covenants set forth in Section 7.07 both immediately before and after giving pro forma effect to the incurrence of such Indebtedness, and (D) the terms of all such Indebtedness are acceptable to the Administrative Agent and the Required Lenders in their discretion; and (ii) other unsecured Indebtedness of the Borrowers to the extent not permitted by any of the foregoing clauses, including clause (i) of this paragraph (h), provided that (A) all of such Indebtedness shall be Subordinated at all times and (B) such Indebtedness is incurred, and owed to a seller, in connection with a Permitted Acquisition;
Other Subordinated Indebtedness. The Company shall not incur any Indebtedness other than the Senior Obligations that is or purports to be senior in right of payment to the Notes without the written consent of Holders holding a majority in principal amount of the Notes.
Other Subordinated Indebtedness. The Company shall not incur any Indebtedness other than the Senior Obligations that is or purports to be senior in right of payment to the Debentures without the written consent of Holders holding a majority in principal amount of the Debentures.
Other Subordinated Indebtedness. As of the Closing Date, there is no Subordinated Indebtedness of the Broker/Dealer other than the Indebtedness contemplated by this Loan Agreement.