Common use of Subordinate Nature of Participating Interest Clause in Contracts

Subordinate Nature of Participating Interest. The Equity Investor hereby agrees that its participating interest in the Loans, Letters of Credit and Commitments purchased by it pursuant to Section 4.1 shall be subordinate in all respects to the interest in such Loans, Letters of Credit and Commitments retained by the holders (other than the Equity Investor) thereof (the “Retained Interest”), so that all payments received or collected on account of such Loans, Letters of Credit and Commitments and applied to the payment or termination thereof, whether received or collected through repayment of such Loans, Letters of Credit or Commitments by the Borrower or through right of set-off with respect thereto or realization upon any collateral security therefor or otherwise, shall first be applied to the payment of the principal, interest, fees and other amounts then due (whether at its stated maturity, by acceleration or otherwise) on the Retained Interest until such principal, interest, fees and other amounts are paid in full, before any such payments are applied pro rata on account of the Equity Investor’s and any Sponsors’ participating interest (if any) in such Loans, Letters of Credit and Commitments.

Subordinate Nature of Participating Interest. The Equity Investor Sponsor hereby agrees that its participating interest in the LoansAdvances, Letters LC Facility Letter of Credit Obligations and Commitments purchased by it pursuant to Section 4.1 7.01 shall be subordinate in all respects to the interest in such LoansAdvances, Letters LC Facility Letter of Credit Obligations and Commitments retained by the holders (other than the Equity InvestorSponsor) thereof (the “Retained Interest”), so that all payments received or collected on account of such LoansAdvances, Letters LC Facility Letter of Credit Obligations and Commitments and applied to the payment or termination thereof, whether received or collected through repayment of such LoansAdvances, Letters LC Facility Letter of Credit or Obligations and Commitments by the Borrower any Loan Party or through right of set-off with respect thereto or realization upon any collateral security therefor or otherwise, shall first be applied to the payment of the principal, interest, fees and other amounts then due (whether at its stated maturity, by acceleration or otherwise) on the Retained Interest until such principal, interest, fees and other amounts are paid in full, before any such payments are applied pro rata on account of the Equity InvestorSponsor’s and any Sponsors’ participating interest (if any) in such LoansAdvances, Letters LC Facility Letter of Credit Obligations and Commitments.

Subordinate Nature of Participating Interest. The Equity Investor hereby agrees that its A Defaulted Member’s participating interest in the Loans, Letters of Credit and Commitments and other Obligations purchased by it pursuant to Section 4.1 4.01 shall be subordinate in all respects to the interest in such Loans, Letters of Credit and Commitments and other Obligations retained by the holders (other than the Equity InvestorDefaulted Member) thereof (the “Retained Interest”), so that all payments received or collected on account of such Loans, Letters of Credit and Commitments and applied to the payment or termination thereof, whether received or collected through repayment of such Loans, Letters of Credit or and Commitments and other Obligations by the Borrower or through right of set-off with respect thereto or realization upon any collateral security therefor or otherwise, shall first be applied to the payment of the principal, interest, fees and other amounts then due (whether at its stated maturity, by acceleration or otherwise) on the Retained Interest until such principal, interest, fees and other amounts are paid in full, before any such payments are applied pro rata on account of the Equity InvestorDefaulted Member’s and any Sponsors’ participating interest (if any) in such Loans, Letters of Credit and CommitmentsCommitments and other Obligations.

Subordinate Nature of Participating Interest. The Equity Investor hereby agrees that its participating interest in the Loans, Letters of Credit and Commitments purchased by it pursuant to Section 4.1 shall be subordinate in all respects to the interest in such Loans, Letters of Credit and Commitments retained by the holders (other than the Equity Investor) thereof (the “Retained Interest”), so that all payments received or collected on account of such Loans, Letters of Credit and Commitments and applied to the payment or termination thereof, whether received or collected through repayment of such Loans, Letters of Credit or Commitments by the Borrower or through right of set-off with respect thereto or realization upon any collateral security therefor or otherwise, shall first be applied to the payment of the principal, interest, fees and other amounts then due (whether at its stated maturity, by acceleration or otherwise) on the Retained Interest until such principal, interest, fees and other amounts are paid in full, before any such payments are applied pro rata on account of the Equity Investor’s and any Sponsors’ the other Sponsor’s participating interest (if any) in such Loans, Letters of Credit and Commitments.