Common use of Preservation of Subordinated Debt Clause in Contracts

Preservation of Subordinated Debt. Notwithstanding any term of this Deed postponing, subordinating or preventing the payment of all or any part of the Subordinated Debt, the Subordinated Party shall, as between the Obligor and the Subordinated Party, be deemed to remain owing or due and payable (and interest, default interest or indemnity payments shall continue to accrue) in accordance with the Subordinated Documents.

Appears in 8 contracts

Samples: Facility Agreement (Kosmos Energy Ltd.), Facility Agreement (Kosmos Energy Ltd.), Facility Agreement (Kosmos Energy Ltd.)

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Preservation of Subordinated Debt. Notwithstanding any term of this Deed postponing, subordinating or preventing the payment of all or any part of the Subordinated Debt, the Subordinated Party shall, as between the Obligor and the Subordinated Party, be deemed to remain owing or due and payable (and interest, default interest or indemnity payments shall continue to accrue) in accordance with the Subordinated Documents.. 176

Appears in 1 contract

Samples: Assignment Agreement (Vaalco Energy Inc /De/)

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