Subordinated Liabilities. Make any payments on any Borrower's obligation subordinated to the obligations to Bank, other than in accordance with the provisions of any subordination agreement executed by the Bank and the subordinated debt holder.
Subordinated Liabilities. Each Guarantor hereby agrees that any and all present and future debts, liabilities and obligations of every type and description (whether for money borrowed, on intercompany accounts, for provision of goods or services, under cash management arrangements or tax sharing, management or contribution agreements, for reimbursement, contribution or otherwise on account of this Agreement or any other agreement of such Guarantor by which any Indebtedness or other liability is guaranteed or on account of any payment made under this Agreement or any such other agreement, or on account of any other transaction, agreement, occurrence or event and whether absolute or contingent, secured or unsecured, direct or indirect, matured or unmatured, liquidated or unliquidated, created directly or acquired from another, or sole, joint, several or joint and several) now outstanding or hereafter incurred, arising or owed to such Guarantor by the Borrower, by Starwood REIT or by any of their Subsidiaries (collectively, the "Subordinated Liabilities") shall be, and hereby are, postponed and subordinated to the prior payment of all Guaranteed Obligations in full and in cash.
Subordinated Liabilities. Borrower shall not make any payment in respect of any Subordinated Liabilities, or permit any of its Subsidiaries to make any such payment except in compliance with the terms of such Subordinated Liabilities, or amend any provision contained in any documentation relating to the Subordinated Liabilities without each Bank’s prior written consent.
Subordinated Liabilities. Borrower makes any payment on account of Subordinated Liabilities, except to the extent the payment is allowed under any subordination agreement entered into with the Banks.
Subordinated Liabilities. (a) Each of the Parties agrees that the Subordinated Liabilities are postponed and subordinated to the Secured Liabilities.
(b) This Agreement does not purport to rank any of the Subordinated Liabilities as between themselves.
Subordinated Liabilities. Clariant AG herewith irrevocably and unconditionally warrants to cause the Seller and Selling Subsidiaries to comply with their obligations under this Agreement. Celanese AG herewith irrevocably and unconditionally warrants to cause the Purchaser, the Purchasing Subsidiaries and the Companies to comply with their obligations under this Agreement.
Subordinated Liabilities. Other than as permitted by the Amended and Restated Subordinated Revolving Loan Agreement between Borrower and its shareholders as of March 11, 2004, (a) make any payment of principal of, or premium or interest on, any Subordinated Liabilities, (b) refinance, redeem, retire, purchase, defease or otherwise acquire any Subordinated Liabilities or (c) make any deposit (including the payment of amounts into a sinking fund or other similar fund) for any of the foregoing purposes, provided, however, Borrower may make regularly scheduled current interest payments provided no Default or Event of Default exists immediately prior to or after the making of any such payment of interest.
Subordinated Liabilities. All loans granted to the Borrower by direct and indirect shareholders of the Borrower as well as any comparable liabilities of the Borrower and interest payments in relation thereto, must be subordinated (pursuant to a subordination agreement agreed between, inter alia, the Lender and the respective direct or indirect shareholders, such agreement the “Subordination Agreement”) to all payment obligations pursuant to this Loan Agreement and the other Finance Documents. All such loans must have a minimum term that exceeds the Term it being understood, however, that this requirement does not prevent the Borrower from repaying or pre-paying such loans out of amounts standing to the credit of the General Account and further provided that such amount can be freely distributed according to Section 14.6 (General Account).
Subordinated Liabilities. Until the Senior Discharge Date, except as the Instructing Group shall previously have consented in writing, and subject to Clause 6.2 (Permitted Enforcement), no Obligor will take nor permit any Intergroup Creditor, nor cooperate with any Subordinated Creditor to take, any Prohibited Action in relation to any Subordinated Liability except:
(a) to the extent contemplated by Clause 4 (Permitted Payments); and
(b) to the extent any Prohibited Action is otherwise permitted under paragraphs (b), (c) and (d) of Clause 3.2 (Obligations of the Subordinated Creditors).
Subordinated Liabilities. No Obligor shall (and the Parent shall procure that no other member of the ZPR Group will):
24.25.1 pay interest on any Subordinated Liabilities; and/or 24.25.2 prepay, repay, redeem, purchase or otherwise acquire any Subordinated Liabilities prior to the Termination Date; in each case, other than in accordance with the terms hereof and the terms of the Shareholders' Undertaking Agreement.
