Common use of Status of Obligations Clause in Contracts

Status of Obligations. In the event that the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Obligations to constitute senior Indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness under the terms of such Subordinated Indebtedness.

Status of Obligations. In the event that the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Loan Document Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness indebtedness under the terms of such Subordinated Indebtedness.

Status of Obligations. In the event that Parent, the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, Parent and the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Subor dinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness indebtedness under the terms of such Subordinated Indebtedness.

Status of Obligations. In the event that the any Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated IndebtednessDebt, the such Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Secured Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Indebtedness Debt and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness indebtedness under the terms of such Subordinated Indebtedness.such

Status of Obligations. In the event that the any Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the such Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Secured Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness under the terms of such Subordinated Indebtedness.33

Status of Obligations. In the event that the any Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the such Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Secured Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness indebtedness under the terms of such Subordinated Indebtedness.​ ​

Status of Obligations. In the event that Parent, the Borrower or any other Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, Parent and the Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Obligations to constitute senior Indebtedness indebtedness (however denominated) in respect of such Subordinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior Indebtedness indebtedness under the terms of such Subordinated Indebtedness.