Payment of Subordinated Indebtedness. No Borrower will incur or make any payments on Subordinated Indebtedness except as permitted by this Section or by a separate inter-creditor or subordination agreement executed between such other creditor and Administrative Agent. Notwithstanding the foregoing, if any Subordinated Indebtedness is authorized by Lenders and if any Default occurs under the Loan Documents, then no Borrower will make any further payments in connection with its Subordinated Indebtedness unless and until such Default has been waived or cured to Administrative Agent's and Lenders' satisfaction.
Payment of Subordinated Indebtedness. Upon the occurrence and during the continuance of an Event of Default, Administrative Agent, at the request of Requisite Lenders, on behalf of Lenders, may deliver to Borrower written notice, or telephonic notice promptly confirmed in writing, directing Borrower to make no further payments on account of any Subordinated Indebtedness. Immediately upon receipt of such notice, Borrower shall cease making and shall make no further payments of any nature whatsoever on account of such Subordinated Indebtedness (except as otherwise permitted by the terms of subordination of such Subordinated Indebtedness), whether such payments are owed to the holder of such Subordinated Indebtedness or to some other Person, unless and until Requisite Lenders have waived such Event of Default in writing or shall have otherwise consented to such payment in writing in advance, such consent being at Requisite Lenders' sole and absolute discretion.
Payment of Subordinated Indebtedness. The Borrowers will not, and Borrowers will not permit any of their Subsidiaries to, make any voluntary payment or prepayment, whether in respect of principal, interest, fees, expenses or otherwise, or any redemption, retirement, purchase or other acquisition, direct or indirect, in respect of any Subordinated Indebtedness except that so long as no Default or Event of Default has occurred and is continuing, the applicable Borrower or applicable Subsidiary may make such payments on Subordinated Indebtedness permitted under Section 8.1 (Indebtedness) in accordance with its terms when due, but only to the extent in compliance with the subordination provisions applicable thereto.
Payment of Subordinated Indebtedness. Not, and not permit any Subsidiary to: make any prepayment of principal of, or acquire, redeem or otherwise retire any Subordinated Indebtedness, if an Event of Default or Unmatured Event of Default has occurred and is continuing or will exist as a result of such prepayment or if such prepayment, acquisition, redemption or retirement would be inconsistent with the subordination provisions thereof; make any payment of principal or interest on any Subordinated Indebtedness if an Event of Default or Unmatured Event of Default exists or otherwise in any manner inconsistent with the subordination provisions thereof; amend or cancel or consent to or permit the amendment or cancellation of, or the subordination provisions thereof; take or omit to take any action whereby the subordination of such Indebtedness or any part thereof to the Notes might be terminated, impaired or adversely affected; or omit to give the Banks prompt written notice of any notice received from any holder of Subordinated Indebtedness of any default under any agreement or instrument relating to any Subordinated Indebtedness by reason whereof such Subordinated Indebtedness might become or be declared to be due or payable.
Payment of Subordinated Indebtedness. The Borrower will not make any payment on any indebtedness for borrowed money that is pari passu with or subordinated to this Note, except under the terms of the subordination, intercreditor, or other similar agreement to which such other indebtedness is subject.
Payment of Subordinated Indebtedness. Make, directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of, or otherwise satisfy, any Subordinated Indebtedness, including on account of any purchase, redemption, retirement, acquisition, cancellation or termination thereof, except regularly scheduled payments of principal and accrued interest expressly permitted by any Subordination Agreement.
Payment of Subordinated Indebtedness. The Credit Parties will not purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of any Subordinated Indebtedness.
Payment of Subordinated Indebtedness. The Borrower will not, and Borrower will not permit any of its Subsidiaries to, make any voluntary payment or prepayment, whether in respect of principal, interest, fees, expenses or otherwise, or any redemption, retirement, purchase or other acquisition, direct or indirect, in respect of any subordinated Indebtedness. So long as no Default or Event of Default has occurred and is continuing, the Borrower and its Subsidiaries may make required payments on subordinated Indebtedness in accordance with its terms when due, but only to the extent in compliance with the subordination provisions applicable thereto. The Borrower shall not, and shall not permit any Subsidiary to, make any principal payments in respect of (or make any payment to Holdings or Parent in respect of or which may be used to repay) any Indebtedness of Holdings or Parent other than as expressly permitted in Subsection 8.4.2 (Permitted Debenture Payments) and Subsection 8.4.4 (Debenture Interest Payments).
Payment of Subordinated Indebtedness. Make, directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of, or otherwise satisfy, any Subordinated Liability, including on account of any purchase, redemption, retirement, acquisition, cancellation or termination thereof, except (a) to the extent (i) required by and in accordance with the terms of the Subordinated Note Indenture and the Subordinated Notes and (ii) Borrower is allowed to make payments in the form of junior securities pursuant to Section 5.8 of the Subordinated Note Indenture, and (b) so long as no Default exists or will exist immediately thereafter, (x) regularly scheduled payments of interest in respect of any other Subordinated Liability and (y) redemptions of up to $10,000,000 in aggregate principal amount of Subordinated Notes; provided, in the case of this clause (y), that (i) both immediately before and immediately after such redemption, the Maximum Available Amount exceeds the Total Outstandings by at least $20,000,000, and (ii) upon giving pro forma effect to such action as of the last day of the most recently ended fiscal quarter, no Default would have occurred as a result thereof.
Payment of Subordinated Indebtedness. Make any payment of Subordinated Indebtedness principal unless Borrower's Consolidated Net Worth has increased during the period from December 31, 1996 to the end of the fiscal quarter immediately preceding the quarter in which such payment of Subordinated Indebtedness is proposed by an amount at least equal to 1.5 times the aggregate amount of all prior principal payments of Subordinated Indebtedness plus the amount of the proposed principal payment of Subordinated Indebtedness.
