Common use of Restrictive Legend; Transfer of Subordinated Indebtedness Clause in Contracts

Restrictive Legend; Transfer of Subordinated Indebtedness. The Subordinated Creditors will cause the Subordinated Notes and all other notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness or any part thereof to contain a specific statement (in the form attached hereto as Exhibit A) thereon to the effect that the indebtedness thereby evidenced is subject to the provisions of this Agreement, and the Subordinated Creditors will xxxx their books conspicuously to evidence the subordination effected hereby. The Subordinated Creditors each represents and warrants to the Preferred Lenders that each such Subordinated Creditor is the lawful holder of the applicable Subordinated Note and has not transferred any interest therein to any other person or entity. In the event of the transfer in any manner of the Subordinated Indebtedness by the Subordinated Creditors to any person who is not a party to this Agreement, the transferring party shall obtain, as a condition to and upon such transfer, the written consent of the transferee to become a party to and be bound by the terms of this Agreement and to the placing of the legend as required by this Section 9 upon the notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness.

Appears in 2 contracts

Samples: Subordination Agreement (RiceBran Technologies), Secured Revolving Credit Facility Agreement (RiceBran Technologies)

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Restrictive Legend; Transfer of Subordinated Indebtedness. The Subordinated Creditors will cause the Subordinated Notes and all other notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness or any part thereof to contain a specific statement (in the form attached hereto as Exhibit A) thereon to the effect that the indebtedness thereby evidenced is subject to the provisions of this Agreement, and the Subordinated Creditors will xxxx their books conspicuously to evidence the subordination effected hereby. The Subordinated Creditors each represents represent and warrants warrant to the Preferred Lenders Lender that each such Subordinated Creditor is the lawful holder of the applicable each such Subordinated Creditor’s Subordinated Note and has not transferred any interest therein to any other person or entity. In the event of the transfer in any manner of the Subordinated Indebtedness by the any Subordinated Creditors Creditor to any person who is not a party to this Agreement, the transferring party shall obtain, as a condition to and upon such transfer, the written consent of the transferee to become a party to and be bound by the terms of this Agreement and to the placing of the legend as required by this Section 9 upon the notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness.

Appears in 1 contract

Samples: Subordination Agreement (Nutracea)

Restrictive Legend; Transfer of Subordinated Indebtedness. The Subordinated Creditors will cause the Subordinated Notes and all other notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness or any part thereof to contain a specific statement (in the form attached hereto as Exhibit A) thereon to the effect that the indebtedness thereby evidenced is subject to the provisions of this Agreement, and the Subordinated Creditors will xxxx their books conspicuously to evidence the subordination effected hereby. The Subordinated Creditors each represents and warrants to the Preferred Lenders Senior Lender that each such Subordinated Creditor is the lawful holder of the applicable Subordinated Note and has not transferred any interest therein to any other person or entity. In the event of the transfer in any manner of the Subordinated Indebtedness by the Subordinated Creditors to any person who is not a party to this Agreement, the transferring party shall obtain, as a condition to and upon such transfer, the written consent of the transferee to become a party to and be bound by the terms of this Agreement and to the placing of the legend as required by this Section 9 upon the notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness.

Appears in 1 contract

Samples: Subordination Agreement (RiceBran Technologies)

Restrictive Legend; Transfer of Subordinated Indebtedness. The Subordinated Creditors will cause the Subordinated Notes and all other notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness or any part thereof to contain a specific statement (in the form attached hereto as Exhibit A) thereon to the effect that the indebtedness thereby evidenced is subject to the provisions of this Agreement, and the Subordinated Creditors will xxxx their books conspicuously to evidence the subordination effected hereby. The Subordinated Creditors each represents and warrants to the Preferred Lenders Lender that each such Subordinated Creditor is the lawful holder of the applicable Subordinated Note and has not transferred any interest therein to any other person or entity. In the event of the transfer in any manner of the Subordinated Indebtedness by the Subordinated Creditors to any person who is not a party to this Agreement, the transferring party shall obtain, as a condition to and upon such transfer, the written consent of the transferee to become a party to and be bound by the terms of this Agreement and to the placing of the legend as required by this Section 9 upon the notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness.

Appears in 1 contract

Samples: Subordination Agreement (RiceBran Technologies)

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Restrictive Legend; Transfer of Subordinated Indebtedness. The Subordinated Creditors will cause the Subordinated Notes and all other notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness or any part thereof to contain a specific statement (in the form attached hereto as Exhibit A) thereon to the effect that the indebtedness thereby evidenced is subject to the provisions of this Agreement, and the Subordinated Creditors will xxxx their books conspicuously to evidence the subordination effected hereby. The Subordinated Creditors each represents represent and warrants warrant to the Preferred Lenders Lender that each such Subordinated Creditor is the lawful holder of the applicable each such Subordinated Creditor’s Existing Subordinated Note and/or New Subordinated Note and has not transferred any interest therein to any other person or entity. In the event of the transfer in any manner of the Subordinated Indebtedness by the any Subordinated Creditors Creditor to any person who is not a party to this Agreement, the transferring party shall obtain, as a condition to and upon such transfer, the written consent of the transferee to become a party to and be bound by the terms of this Agreement and to the placing of the legend as required by this Section 9 upon the notes, bonds, debentures or other instruments evidencing the Subordinated Indebtedness.

Appears in 1 contract

Samples: Subordination Agreement (Nutracea)

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