Senior Ranking. The Indebtedness under any Subordinated Indebtedness Documents shall, and Borrowers shall take all necessary action to ensure that the Indebtedness thereunder shall, at all times, be subordinated in right of payment to the Obligations, subject to any terms and conditions that the Term Agent may agree to in its sole discretion in any Subordination Agreement.
Appears in 6 contracts
Samples: Term Loan Agreement (Mediaco Holding Inc.), Term Loan Agreement (Mediaco Holding Inc.), Term Loan Agreement (Mediaco Holding Inc.)
Senior Ranking. The Indebtedness under any the Subordinated Indebtedness Debt Documents shall, and the Borrowers shall take all necessary action to ensure that the Indebtedness thereunder under the Subordinated Debt Documents shall, at all times, be subordinated in right of payment to the Obligations, subject to any terms and conditions that the Term Agent may agree to in its sole discretion in any Subordination Agreement.
Appears in 2 contracts
Samples: Second Amendment Agreement (Universal Logistics Holdings, Inc.), Credit and Security Agreement (Universal Logistics Holdings, Inc.)
Senior Ranking. The Indebtedness under any Subordinated Indebtedness Documents shall, and Borrowers shall take all necessary action to ensure that the Indebtedness thereunder shall, at all times, be subordinated in right of payment to the Obligations, subject to any terms and conditions that the Term Agent may agree to in its sole discretion in any Subordination Agreement.
Appears in 1 contract
Senior Ranking. The Indebtedness under any the Subordinated Indebtedness Debt Documents shall, and Borrowers shall take all necessary action to ensure that the Indebtedness thereunder under the Subordinated Debt Documents shall, at all times, be subordinated in right of payment to the Obligations, subject to any terms and conditions that the Term Agent may agree to in its sole discretion in any Subordination Agreement.
Appears in 1 contract
Samples: Credit and Security Agreement (Colonial Commercial Corp)
