Common use of Payment of Subordinated Indebtedness Clause in Contracts

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. No Borrower will incur or make any payments on Subordinated Indebtedness except as subsequently permitted by this Section or by a separate inter-creditor intercreditor or subordination agreement executed between such other creditor and Administrative Agent. Notwithstanding the foregoing, if any Subordinated Indebtedness is subsequently 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. No Borrower will incur or make any payments on Subordinated Indebtedness except as permitted by this Section or by a separate inter-creditor intercreditor or subordination agreement executed between such other creditor and Administrative Agent. Notwithstanding the foregoing, if any Subordinated Indebtedness is subsequently 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. No Borrower will incur or make any payments on Subordinated Indebtedness except as permitted by this Section or by a separate inter-creditor intercreditor or subordination agreement executed between such other creditor and Administrative Agent. Notwithstanding the foregoing, if any Subordinated Indebtedness is subsequently 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 the satisfaction of Administrative Agent's Agent and Lenders' satisfaction.