Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been paid in full.
Appears in 7 contracts
Samples: Note Purchase Agreement (Dynasil Corp of America), Note Purchase Agreement (Dynasil Corp of America), Note Purchase Agreement (World Energy Solutions, Inc.)
Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes Note in violation or contravention of the terms of this subordination, before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), ) until all Senior Debt shall have been paid in full.
Appears in 2 contracts
Samples: Convertible Note and Warrant Purchase Agreement (Photoelectron Corp), Convertible Note and Warrant Purchase Agreement (Photoelectron Corp)
Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes Note or any interest in the Loans before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been paid in full.
Appears in 2 contracts
Samples: Loan Agreement (Boston Capital Real Estate Investment Trust Inc), Loan Agreement (Boston Capital Real Estate Investment Trust Inc)
Payments Held in Trust. In case any payment or distribution shall ---------------------- be paid or delivered to any holder of the Notes before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Candela Corp /De/)
Payments Held in Trust. In case any payment or distribution ---------------------- shall be paid or delivered to any holder of the Notes before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Peritus Software Services Inc)
Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes Note before all Senior Debt shall have been paid in full, full despite or in violation or contravention of the terms of this subordinationSection 2.02(b), such payment or distribution shall be held in trust by such holder for and promptly paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Credit Agreement (Regis Corp)
Payments Held in Trust. In case any payment or distribution ----------------------- shall be paid or delivered to any holder of the Notes in violation or contravention of the terms of this subordination, before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), ) until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Subordinated Convertible Note Purchase Agreement (Photoelectron Corp)
Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes Lender before all Senior Debt Indebtedness shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt Indebtedness (or their duly authorized representatives), until all Senior Debt Indebtedness shall have been paid in full.
Appears in 1 contract
Payments Held in Trust. In case any payment or distribution shall ----------------------- be paid or delivered to any holder of the Notes in violation or contravention of the terms of this subordination, before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), ) until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Subordinated Convertible Note Purchase Agreement (Photoelectron Corp)
Payments Held in Trust. In case any payment or distribution shall be paid or delivered to any holder of the Notes this Note before all Senior Debt Indebtedness shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt Indebtedness (or their duly authorized representatives), until all Senior Debt Indebtedness shall have been paid in full.
Appears in 1 contract
Payments Held in Trust. In case any payment or distribution shall ----------------------- be paid or delivered to any holder of the Notes Note in violation or contravention of the terms of this subordination, before all Senior Debt shall have been paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), ) until all Senior Debt shall have been paid in full.
Appears in 1 contract
Samples: Convertible Note Purchase Agreement (Photoelectron Corp)
Payments Held in Trust. In case any payment or distribution ---------------------- shall be paid or delivered to any holder of the Notes before all Senior Debt shall have been indefeasibly paid in full, despite or in violation or contravention of the terms of this subordination, such payment or distribution shall be held in trust for and paid and delivered ratably to the holders of Senior Debt (or their duly authorized representatives), until all Senior Debt shall have been indefeasibly paid in full.
Appears in 1 contract
Samples: Secured Subordinated Note and Warrant Purchase Agreement (Providence & Worcester Railroad Co/Ri/)
