Subordinated Notes, Etc. Such Originator will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with respect to, any Subordinated Note.
Subordinated Notes, Etc. All Obligations hereunder and under the other Loan Documents constitute “ABL Facility Priority Lien Debt” as such term is defined in, and for purposes of, the New Senior Secured Note Indenture. All Obligations hereunder and under the other Loan Documents constitute “Priority Lien Debt” as such term is defined in, and for purposes of, the Existing Senior Secured Note Indenture. So long as any Existing Subordinated Notes remain outstanding, all Obligations hereunder and under the other Loan Documents constitute “Senior Debt” and “Designated Senior Debt,” as such terms are defined in, and for purposes of, the Existing Subordinated Note Indenture. This Agreement (i) is included in the “Credit Agreement” as such term is defined in, and for purposes of, each of the Existing Subordinated Note Indenture and the Existing Senior Secured Note Indenture and (ii) constitutes a “Credit Facility” as such term is defined in, and for purposes of, the New Senior Secured Note Indenture.
Subordinated Notes, Etc. (a) The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined in the Subsidiaries Guaranty) are within the definition of "Senior Debt" included in such subordination provisions.
(b) The subordination provisions contained in the Subordinated Debentures are enforceable against the Borrower and the holders of the Subordinated Debentures, and all Obligations consisting of principal and interest are within the definition of "Senior Debt" included in such subordination provisions.
(c) After the issuance thereof, the subordination provisions contained in any Additional Subordinated Debt will be enforceable against the respective Credit Parties obligated thereunder and the holders of the Additional Subordinated Debt, and all Obligations and Guaranteed Obligations (as defined in the Subsidiaries Guaranty) will be within the definition of "Senior Debt" included in such subordinated provisions.
(d) After the issuance thereof, the subordination provisions contained in any Shareholder Subordinated Note will be enforceable against the Borrower and the holders of such Shareholder Subordinated Note, and all Obligations will be within the definition of "Senior Indebtedness" included in such subordinated provisions.
Subordinated Notes, Etc. (a) The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined in the Subsidiaries Guaranty) are within the definitions of "Designated Senior Debt," "Senior Debt" and "Senior Debt of the Subsidiary Guarantor", as the case may be, included in such subordination provisions.
Subordinated Notes, Etc. All Obligations hereunder and under the other Loan Documents are within the definitions of "Senior Debt" and "Designated Senior Debt," as the case may be, included in such provisions of the Existing 9 1/4% Senior Subordinated Note Indenture, the Existing 11 1/4% Senior Subordinated Note Indenture and the New Senior Subordinated Notes Indenture (or the Bridge Financing, as the case may be). This Agreement constitutes the "Credit Agreement" under, and as defined in, each of the Existing 9 1/4% Senior Subordinated Note Indenture, the Existing 11 1/4% Senior Subordinated Note Indenture, the New Senior Subordinated Notes Indenture and, if applicable, the Bridge Financing Documents.
Subordinated Notes, Etc. All Obligations hereunder and under the other Loan Documents constitute “ABL Facility Priority Lien Debt” as such term is defined in, and for purposes of, the New Senior Secured Note Indenture. All Obligations hereunder and under the other Loan Documents constitute “Priority Lien Debt” as such term is defined in, and for purposes of, the Existing Senior Secured Note Indenture. All Obligations hereunder and under the other Loan Documents constitute “Senior Debt” and “Designated Senior Debt,” as such terms are defined in, and for purposes of, the Existing Senior Subordinated Note Indenture. This Agreement constitutes the “Credit Agreement” as such term is defined in, and for purposes of, each of the Existing Senior Subordinated Note Indenture, the Existing Senior Secured Note Indenture and the New Senior Secured Note Indenture.
Subordinated Notes, Etc. Such Originator will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement) or with respect to, its Subordinated Note or, in the case of the Contributing Originator, any of the Contributing Originator’s equity interests in the Buyer (other than involuntary Adverse Claims which have been of record less than 45 days and which such Originator is actively contesting by appropriate proceedings or regulatory procedures and as to which the holder of such adverse claim has not commenced realizing on the encumbered Subordinated Note or equity interests in the Buyer).
Subordinated Notes, Etc. All Obligations hereunder and under the other Loan Documents are within the definitions of "Senior Debt" and "Designated Senior Debt," as the case may be, included in such provisions of the Existing Senior Subordinated Note Indenture and the New Senior Subordinated Notes Indenture. This Agreement constitutes the "Credit Agreement" under, and as defined in, each of the Existing Senior Subordinated Notes Indenture and the New Senior Subordinated Notes Indenture.
Subordinated Notes, Etc. Such Originator will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse Claim (other than (i) Permitted Adverse Claims, (ii) any Adverse Claim on any Subordinated Note in favor of the Gray Credit Agreement Agent but only so long as the Gray Credit Agreement Agent is not foreclosing on or otherwise challenging the enforceability of any Subordinated Note or any provision thereof and (iii) any Adverse Claim in the Capital Stock of the Buyer in favor of the Gray Credit Agreement Agent but only so long as the Gray Credit Agreement Agent is not foreclosing on such Capital Stock or otherwise amending or challenging the enforceability of the Limited Liability Company Agreement or any provision thereof) upon (including, without limitation, the filing of any financing statement) or with respect to, any Subordinated Note or any of such Originator’s Capital Stock in the Buyer.
Subordinated Notes, Etc. 59 SECTION 8. AffirmativeCovenants............................................................59
