Common use of PRESERVATION OF DEBT Clause in Contracts

PRESERVATION OF DEBT. In spite of any term of this Deed postponing, subordinating or preventing the payment of any of the Subordinated Debt, as between the Obligors and the Subordinated Creditors, the Subordinated Debt shall remain owing or payable (and interest or default interest shall continue to accrue) in accordance with the terms of the Junior Loan Agreements or the Intercompany Documents (as the case may be). No delay in exercising rights and remedies under the Junior Loan Agreement or the Intercompany Documents by reason of any term of this Deed postponing, restricting or preventing such exercise shall operate as a permanent waiver of any of those rights and remedies.

PRESERVATION OF DEBT. In spite of any term of this Deed Agreement postponing, subordinating or preventing the payment of any of the Subordinated Debt, as between the Obligors and the Subordinated Creditors, the Subordinated Debt shall remain owing or payable (and interest or default interest shall continue to accrue) in accordance with the terms of the Junior Loan Agreements Shareholder Documents or the Intercompany Documents (as the case may be). No delay in exercising rights and remedies under any of the Junior Loan Agreement Shareholder Documents or the Intercompany Documents by reason of any term of this Deed Agreement postponing, restricting or preventing such exercise shall operate as a permanent waiver of any of those rights and remedies.