Common use of Subordinated Debt Standstill Provisions Clause in Contracts

Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion), no Subordinated Creditor shall, without the prior written consent of Agent, take any Enforcement Action with respect to the Subordinated Debt or any Collateral, provided, however, that the Subordinated Creditor may take any Collection Action with respect to the Subordinated Debt (but not against any Collateral or any other property or assets securing Subordinated Debt) upon the acceleration of all or any portion of the Senior Debt.

Appears in 4 contracts

Samples: Subordination and Intercreditor Agreement (PNG Ventures Inc), Subordination and Intercreditor Agreement (Earth Biofuels Inc), Subordination and Intercreditor Agreement (PNG Ventures Inc)

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Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion)full, no the Subordinated Creditor shallshall not, without the prior written consent of Agent, take any Enforcement Action with respect to the Subordinated Debt or under the Subordinated Debt Documents. Any Distributions or other proceeds of any Collateral, provided, however, that Enforcement Action obtained by the Subordinated Creditor may take shall in any Collection Action with respect event be held in trust by it for the benefit of Agent and Senior Lenders and promptly paid or delivered to Agent for the Subordinated Debt (but not against any Collateral or any other property or assets securing Subordinated Debt) upon benefit of Senior Lenders in the acceleration of all or any portion of form received until the Senior DebtDebt is paid in full.

Appears in 4 contracts

Samples: Subordination and Intercreditor Agreement (Telos Corp), Subordination and Intercreditor Agreement (Telos Corp), Subordination and Intercreditor Agreement (Telos Corp)

Subordinated Debt Standstill Provisions. (a) Until the earlier of the Payment in Full of the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion)Debt, no Subordinated Creditor shallagrees that it shall not, without the prior written consent of Agentthe Senior Agent and Senior Creditors, take any Enforcement Action with respect to the Subordinated Debt or any Collateral, provided, however, that the Subordinated Exercise Any Secured Creditor may take any Collection Action with respect to the Subordinated Debt (but not against any Collateral Remedies or any other property enforcement rights as against any Obligor or assets securing Subordinated Debt) upon the acceleration of all or any portion of the Senior Debtits assets.

Appears in 3 contracts

Samples: Subordination and Intercreditor Agreement (Akerna Corp.), Subordination and Intercreditor Agreement (Akerna Corp.), Subordination and Intercreditor Agreement (Akerna Corp.)

Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is paid in full in cash (and all amounts due on or other consideration acceptable to Agent in its sole discretion)respect of Obligations under the Senior Debt Documents shall be terminated, no Subordinated Creditor shall, without the prior written consent of Agentthe Trustee, take any Enforcement Action with respect to the Subordinated Debt or any CollateralDebt, provided, however, that until the Subordinated Creditor may take any Collection Action with respect earliest to the Subordinated Debt (but not against any Collateral or any other property or assets securing Subordinated Debt) upon the acceleration of all or any portion occur of the Senior Debt.following:

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (APT Sunshine State LLC)

Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is indefeasibly paid in full in cash (or other consideration acceptable and all commitments to Agent in its sole discretion)lend under the Senior Debt Documents shall be terminated, no neither the Indenture Trustee nor the Subordinated Creditor Investors shall, without the prior written consent of Agentthe Senior Lender, take any Enforcement Action with respect to the Subordinated Debt or Debt, any Collateral, provided, however, that of the Subordinated Creditor may take any Collection Action with respect to the Subordinated Debt (but not against any Collateral or any other property or assets securing of any guarantor of the Subordinated Debt) upon the acceleration of all or any portion of the Senior Debt.

Appears in 1 contract

Samples: Subordination Agreement (Heron Lake BioEnergy, LLC)

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Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is indefeasibly paid in full in cash (or other consideration acceptable and all commitments to Agent in its sole discretion)lend under the Senior Debt Documents shall be terminated, no Subordinated Creditor shallthe Initial Sub-debt Holders shall not, without the prior written consent of Agentthe Senior Lender, take any Enforcement Action with respect to the Subordinated Debt or Debt, any Collateral, provided, however, that of the Subordinated Creditor may take any Collection Action with respect to the Subordinated Debt (but not against any Collateral or any other property or assets securing of any guarantor of the Subordinated Debt) upon the acceleration of all or any portion of the Senior Debt.

Appears in 1 contract

Samples: Subordination Agreement (Heron Lake BioEnergy, LLC)

Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is paid in full in cash (or other consideration acceptable to Agent in its sole discretion), no Subordinated Creditor shall, without the prior written consent of Agent, take any Enforcement Action with respect to the Subordinated Debt or any Collateral, provided, however, that the Subordinated Creditor Creditors may take any Collection Action with respect to the Subordinated Debt (but not against any Collateral or any other property or assets securing Subordinated Debt) upon the acceleration of all or any portion of the Senior Debt.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (PNG Ventures Inc)

Subordinated Debt Standstill Provisions. (a) Until the Senior Debt is paid Paid in full in cash (or other consideration acceptable to Agent in its sole discretion)Full, no Subordinated Creditor shallshall not, without the prior written consent of AgentSenior Creditor, take any Enforcement Action with respect to the Subordinated Debt or any Collateral, provided, however, that under the Subordinated Debt Documents; provided further that in no event may Subordinated Creditor may take commence or join with other Persons or support other Persons to commence a Proceeding or exercise any Collection Action rights or remedies with respect to the Subordinated Debt (but not against any Collateral or any other property or assets securing Subordinated Debt) upon the acceleration of all or any portion of the Senior DebtCollateral.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Sifco Industries Inc)

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