Common use of Payments in Respect of Subordinated Debt Clause in Contracts

Payments in Respect of Subordinated Debt. (a) The Borrower shall not make any payment, directly or indirectly, to the Aviv Lessor or Omega (or any Affiliate or Subsidiary thereof) in contravention of the Intercreditor Agreements. (b) The Borrower shall not make any payment in respect of any Indebtedness for borrowed money that is subordinated to the Liabilities (including, without limitation, the Subordinated Debt); provided, however, the Borrower shall be permitted to make solely those payments expressly permitted pursuant to the terms of the Subordination Agreements, in each case, as long as the Borrower is in compliance with Section 9.12 hereof both immediately before and after any such contemplated or actual payment, provided, further, that both immediately before any such contemplated payment or after giving effect to any such payments no Default or Event of Default shall exist or have occurred or result therefrom, unless otherwise permitted expressly under the terms of the Subordination Agreements.

Payments in Respect of Subordinated Debt. (a) The Borrower shall not make any payment, directly or indirectly, to the Aviv Lessor or Omega (or any Affiliate or Subsidiary thereof) in contravention of the Omega Intercreditor AgreementsAgreement. (b) The Borrower shall not make any payment in respect of any Indebtedness for borrowed money that is subordinated to the Liabilities (including, without limitation, the Subordinated Debt); provided, however, the Borrower shall be permitted to make solely those payments expressly permitted pursuant to the terms of the Subordination Agreements, in each case, as long as the Borrower is in compliance with the financial covenants contained in Section 9.12 hereof both immediately before and after any such contemplated or actual payment, provided, further, that both immediately before any such contemplated payment or after giving effect to any such payments no Default or Event of Default shall exist or have occurred or result therefrom, unless otherwise permitted expressly under the terms of the Subordination Agreements.