Subordinate Status Clause Samples
Subordinate Status. Unless the Lender satisfactorily believes that the relevant Borrower will repay the loan of the Borrower’s Holding Company with the funds under its Subordinate Indebtedness and repay the loans under the Overseas Financial Agreement by its Holding Company, the Borrower shall ensure that any existing or future loans, granted to its Related Company or Holding Company, or any other indebtedness that is in the nature of loan (the “Subordinate Loan”) is subordinate to the indebtedness owing to the Lender under this Agreement (the “Preferential Indebtedness”) to the satisfaction of the Lender, including but without limitation that the complete and irrevocable settlement of any Preferential Indebtedness shall be a precondition for the repayment of Subordinate Indebtedness. For this purpose, the Borrower shall ensure that the relevant fund providers and the Borrower will sign any related document or agreement with the Lender at the request of the Lender from time to time.
Subordinate Status. 12.1 Except for Schedule 1 and Schedule 7, this MCA is subordinate to and does not supersede any written arrangements among the Parties (or their respective Subsidiaries) or any of them concerning the same subject matter as set out herein. Nothing in clauses 6, 7, 8 and 9 affects the liability for any Litigation (including the related Losses), as allocated in, or in accordance with, Schedule 1 and Schedule 7.
12.2 For the avoidance of doubt, Parties may agree on additional arrangements to the MCA if all Parties agree.