Subordinated Indebtedness Documentation Clause Samples
The Subordinated Indebtedness Documentation clause defines the requirements and standards for the documentation governing any subordinated debt owed by a party. It typically specifies the terms under which such debt is considered subordinate to other obligations, including the need for subordination agreements and the approval of documentation by senior creditors. This clause ensures that subordinated debt does not interfere with the rights of senior lenders, thereby protecting their priority in repayment and reducing the risk of conflicting claims.
Subordinated Indebtedness Documentation. (i) There shall occur and be continuing any “Event of Default” (or any comparable term) under, and as defined in the documents evidencing or governing any Subordinated Debt and any standstill period thereunder has expired, (ii) any of the Obligations for any reason shall cease to be “Designated Senior Debt” (or any comparable term) under, and as defined in the documents evidencing or governing any Subordinated Indebtedness, (iii) any Indebtedness other than the Obligations shall constitute “Designated Senior Indebtedness” (or any comparable term) under , and as defined in, any documents evidencing or governing any Subordinated Indebtedness or (iv) the subordination provisions of the documents evidencing or governing any Subordinated Indebtedness shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the applicable Subordinated Indebtedness.
Subordinated Indebtedness Documentation. As promptly as possible upon receipt by any Loan Party, copies of each draft of documentation intended to relate to or evidence Subordinated Indebtedness proposed to be incurred by any Loan Party.
Subordinated Indebtedness Documentation. (i) Any of the Obligations of the Loan Parties under the Loan Documents for any reason shall cease to be "Senior Indebtedness" (or any comparable term) under, and as defined in, the Senior Subordinated Notes Indenture or any other Subordinated Debt or (ii) the subordination provisions set forth in the Senior Subordinated Notes Indenture or the indenture or other instrument governing any other Subordinated Debt shall, in whole or in part, cease to be effective; or
Subordinated Indebtedness Documentation. The subordination provisions of the documents evidencing or governing any Subordinated Indebtedness shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the applicable Subordinated Indebtedness.
Subordinated Indebtedness Documentation. (i) There shall occur and be continuing any “Event of Default” (or any comparable term) under, and as defined in the documents evidencing or governing any Subordinated Debt and any standstill period thereunder has expired, (ii) any of the Obligations for any reason shall cease to be