Subordinated Loan. Relying on each of the representations and warranties set out in Article 3 and subject to the terms and conditions herein contained, the Lender agrees to make available, on the Closing Date, to the Borrower, by way of a single advance of one billion dollars ($1,000,000,000), a subordinated loan in the amount of one billion dollars ($1,000,000,000) upon receipt of the Promissory Note for the amount of such subordinated loan duly executed by the Borrower in favour of the Lender (the “Subordinated Loan”).
Subordinated Loan. In the event the Effective Date has not occurred on or prior to February 28, 2022, the Purchaser agrees, on the terms and subject to the conditions set forth in the Subordinated Loan Agreement, to lend to the Company the principal sum of $25,000,000. Further, the Purchaser shall lend to the Company an additional amount of $25,000,000 on each of May 31, August 31 and November 30, 2022 (the “Advancement Dates”) if the Effective Date has not occurred on or prior to the Business Day immediately preceding each Advancement Date, with the aggregate principal amount to be extended by the Purchaser to the Company not to exceed $100,000,000. For greater certainty, the Subordinated Loan shall be: (i) subject to acceleration in certain customary or to be negotiated events, which shall include the termination of this Agreement pursuant to Section 7.2(c)(ii); and (ii) only subordinate to the Company Senior Secured Notes and the Company Convertible Debentures.
Subordinated Loan. The Borrower shall not pay or repay any amount under the Subordinated Loan Agreement while the Secured Obligations remain outstanding provided that upon delivery of an Aircraft and following payment and repayment of principal, interest, breakage costs and the amounts allocable to such Aircraft and all other amounts the due and owing under the Mortgage, the Borrower may repay amounts payable under the Subordinated Loan Agreement to the extent of available funds at such time.
Subordinated Loan. At the RFS Closing, simultaneous with the other transactions to be consummated at the RFS Closing and subject to the consent of FINRA, (a) Purchaser shall pay to Seller on behalf of RFS an amount equal to all outstanding principal due and payable under the Subordinated Loan, and, immediately thereafter, such Subordinated Loan shall no longer be effective in accordance with its terms and shall be replaced by the New Subordinated Loan and (b) Seller shall submit a satisfaction letter, in form and substance reasonably satisfactory to Purchaser and Seller, to FINRA evidencing the payoff in full of all outstanding principal under the Subordinated Loan.
Subordinated Loan. (a) If the Company elects to deliver U.S. Dollars to cure an Early Amortization Event pursuant to Section 5.01 hereof, such cash contribution ------------ shall be evidenced as a Subordinated Loan, will constitute a Junior Claim and will be subject to the provisions of this Section 11.16.
Subordinated Loan. (a) At all times from the first Utilisation Date (or in the case of the Sponsor three (3) Business Days after the first Utilisation Date), the Borrower shall ensure (and procure) that if the Sponsor, a Shareholder (or any other member of the Group) has or may have outstanding rights or claims against the Borrower in respect of any Subordinated Loan or Promissory Note (or any other inter-company loan made available to the Borrower) such person shall have executed a Subordination Deed. The Finance Parties shall promptly take any action that is reasonably requested by the Borrower and required on their part to ensure a Subordination Deed is executed for this purpose
(b) The Borrower agrees that following the occurrence of a Default, the Borrower shall not repay and shall procure that the Sponsor, a Shareholder or any relevant member of the Group shall not demand or accept repayment of any such loans or payments of any Promissory Notes, in each case without the prior written consent of the Facility Agent acting on the instructions of the Lenders except to the extent that such payments are made from amounts standing to the credit of the Distribution Account (which payments can be made without any such consent).
Subordinated Loan. The Issuer shall provide the Issuer Cash Manager with a copy of any Further Subordinated Loan Request in accordance with the terms of the Subordinated Loan Agreement.
Subordinated Loan. Subject to the terms, conditions and notice requirements and relying on the representations and warranties contained in this Subordinated Loan Agreement and the other Subordinated Loan Documents, on the Closing Date but effective as of the Effective Date Twenty-Five Million and No/100 Dollars ($25,000,000) of the outstanding principal amount owed by the Borrower under the Original Loan Agreement shall be converted into the Subordinated Loan which shall consist of Advances owed to each Subordinated Lender in an amount equal to such Subordinated Lender's Pro Rata Share of $25,000,000.
Subordinated Loan. (a) If the Company elects to deliver U.S. Dollars, Euro and/or Pounds Sterling (as applicable) to cure an Early Amortization Event pursuant to Section 5.01, such cash contribution, which may be made only out of Collections from the Series 2000-1 Concentration Accounts which are otherwise allocable under Section 3A.03 to be paid to the Company Receipts Account, shall be evidenced as a Subordinated Loan, will constitute a Junior Claim and will be subject to the provisions of this Section 11.16. Irrespective of the time, order or method of payment and irrespective of anything else contained in this or any other document or agreement other than in this Section 11.16, so long as any VFC Certificate remains outstanding, the Company agrees that any and all Junior Claims are and shall be expressly subordinate and junior to the Senior Claims in right and time of payment. Each Junior Claimant by acceptance thereof waives any and all notice of the creation or accrual of any such Senior Claim and notice of proof of reliance upon these subordination provisions by any holder of any Senior Claim. Any such Senior Claim shall conclusively be deemed to have been created, contracted or incurred in reliance upon these subordination provisions and all dealings between the Company and any holders of any such Senior Claims (including the Company as an ECI Holder) so arising shall be deemed to have been consummated in reliance upon these subordination provisions. The provisions of this Section 11.16 are and are intended to be solely for the purpose of defining the relative rights of the Junior Claimants, on the one hand, and the holders of any Senior Claims, on the other hand.
(b) In the event of any Insolvency Event:
(i) all Senior Claims shall first be Indefeasibly Paid, or such payment shall have been provided for in a manner satisfactory to all of the holders of Senior Claims, before any payment or distribution, whether in cash, securities or other property, shall be made to any Junior Claimant on account of such Junior Claim; and
(ii) any payment or distribution of any kind or character, whether in cash, securities or other property that would otherwise (but for these subordination provisions) be payable or deliverable with respect to any Junior Claim shall be paid or delivered directly to the holders of Senior Claims (or to a banking institution selected by the court or other Person making the payment or delivery or designated by any holder of any Senior Claim) for applicat...
