Subordinated Creditors. (i) any Subordinated Creditor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under a Deed of Subordination and in respect of any such breach or omission which, in the opinion of the Agent (acting on the instructions of the Majority Banks (acting reasonably)) is capable of remedy, such action as the Agent may require shall not have been taken within 21 days of the Agent notifying such Subordinated Creditor thereof and of such required action; or
(ii) any representation or warranty made or deemed to be made or repeated by or in respect of any Subordinated Creditor in or pursuant to any Deed of Subordination is or proves to have been incorrect or misleading in any material respect on the date on which it was made or deemed to be made or repeated and, in the event that the act or circumstance which led to such representation or warranty being incorrect or misleading is capable of remedy, such action as the Agent may require shall not have been taken within 21 days of the Agent notifying the relevant Subordinated Creditor of such act or circumstance and such required action; or
(iii) any Subordinated Creditor is not or ceases to be bound by a Deed of Subordination; or
(iv) any payment due from a member of the Restricted Group to a Subordinated Creditor is not or ceases to be subordinated to the amounts owing under this Agreement; or
(v) any Subordinated Creditor or any liquidator, administrator or administrative or other receiver (or similar officer) of any Subordinated Creditor takes steps to contest the subordination effected by a Deed of Subordination; or
Subordinated Creditors. (a) Until the Final Discharge Date:
(i) no Subordinated Creditor shall demand or receive and no Subordinated Debtor shall (and the Issuer shall ensure that no other Group Company will) make, any payment, repayment or prepayment of any principal, interest or other amount on or in respect of, or any distribution in respect of, or any redemption or purchase of, any Subordinated Debt in cash or in kind (or otherwise discharge any part of the Subordinated Debt by way of set-off or otherwise), unless expressly permitted by the Secured Finance Documents and, in the case of any Shareholder Debt, subject the Security Agent's prior consent in its discretion;
(ii) no Subordinated Creditor shall claim or rank as a creditor in the insolvency, winding-up, bankruptcy or liquidation of any Group Company other than in accordance with Clause 10.2 (Acceleration and Claim of Subordinated Debt and Intercompany Debt);
(iii) no Subordinated Creditor or Subordinated Debtor shall take or omit to take any action whereby the ranking and/or subordination contemplated by this Agreement may be impaired; and
(iv) no Subordinated Creditor or Subordinated Debtor shall amend or terminate any provision of any Subordinated Debt Document.
(b) Paragraph (a) (i)-(iv) above does not apply to any action arising in accordance with the terms of any prior written consent of the Representatives.
(c) No Subordinated Creditor shall permit to subsist or receive, and no Subordinated Debtor shall (and the Issuer shall ensure that no other Group Company will) create or permit to subsist, any Security or any guarantee for or in respect of any Subordinated Debt except if permitted by the Security Agent (acting on instructions from the Representatives).
Subordinated Creditors. The Subordinated Agent hereby represents and warrants to each Senior Agent and each of the other Senior Creditors that as of the date hereof: (a) the Subordinated Agent (for itself and on behalf of the Subordinated Creditors) has the power and authority to enter into, execute, deliver, and carry out the terms of this Agreement, all of which have been duly authorized by all proper and necessary action; (b) the execution of this Agreement by the Subordinated Agent will not violate or conflict with the organizational documents of the Subordinated Agent; and (c) this Agreement is the legal, valid, and binding obligation of the Subordinated Agent (for itself and on behalf of the Subordinated Creditors), enforceable against the Subordinated Agent in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors’ rights generally and by equitable principles.
Subordinated Creditors. Assignment of Subordinated Debt entered or to be entered into between the Security Agent and the Subordinated Creditors.
Subordinated Creditors. Upon the prior satisfaction in full of all Class 4 Allowed General Unsecured Claims, including the FPFG Intercompany Claim, a Beneficiary who is a Class 5 Subordinated Creditor shall receive on a Distribution Date its share of Creditor Cash based on such Beneficiary's Subordinated Creditor Cash Sharing Ratio until such Beneficiary's Class 5 Allowed Subordinated Claim is paid in full with interest.
Subordinated Creditors. PRINTWORKS SERIES E LLC, Delaware Limited Liability Company
Subordinated Creditors. Deliver such consents and waivers as Agent and the Lenders deem necessary or appropriate from the holders of the Subordinated Debt to the undertakings of the Borrowers as set forth in this Forbearance Agreement.
Subordinated Creditors. Promptly upon receipt thereof, copies of all communications between Borrower and any Subordinated Creditors."
Subordinated Creditors. The Borrower shall not make any payment to any Subordinated Creditor (as defined in the Subordination Agreement), except as permitted pursuant to the terms of the Subordination Agreement.
Subordinated Creditors. No Subordinated Creditor will at any time before the Senior Discharge Date (except with the written consent of the Trustee):
15.3.1 assign, novate, transfer or dispose of, or create or permit to subsist any Security over, or declare or create any trust of, any or all of the Intra-Group Liabilities owing to it or its proceeds or any interest in the Intra-Group Liabilities or its proceeds, or any other rights or obligations under any Subordinated Finance Document, or any security therefor, or its commitment to provide the Intra-Group Liabilities to or in favour of any person;
15.3.2 subordinate any or all of the Intra-Group Liabilities or its proceeds to any sums owing by an Intra-Group Borrower to any person other than to the Senior Debt, unless that person agrees with the parties to this Deed that it is bound by all the terms of this Deed as a Subordinated Creditor in the same capacity as the transferring Subordinated Creditor.
