Common use of Subordinated Debt Payment Restrictions Clause in Contracts

Subordinated Debt Payment Restrictions. (a) Notwithstanding the terms of the Subordinated Debt Documents, each Company hereby agrees that it may not make, directly or indirectly, and each Subordinated Creditor hereby agrees that it will not accept, any Distribution (other than Reorganization Subordinated Securities) with respect to the Subordinated Debt until the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion).

Subordinated Debt Payment Restrictions. (a) Notwithstanding the terms of the Subordinated Debt Documents, each but subject to the provisions of Section 2.3(c) through Section 2.3(e) below, the Company hereby agrees that it may not make, directly or indirectly, and each Subordinated Creditor hereby agrees that it will not accept, any Distribution (other than Reorganization Subordinated Securities) with respect to the Subordinated Debt until the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion).