Common use of Subordination and Intercreditor Agreement Clause in Contracts

Subordination and Intercreditor Agreement. Reference is made to the Subordination and Intercreditor Agreement, dated as of December 17, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Subordination and Intercreditor Agreement”), among Union Bank of California, N.A., as Senior Agent, and UnionBanCal Equities, Inc., as Subordinated Agent, and certain other persons, party or that may become party thereto from time to time. Notwithstanding anything herein to the contrary, this Pledge Agreement, the Liens granted to the Administrative Agent pursuant to this Pledge Agreement and the exercise of any right or remedy by the Administrative Agent or any of the Lenders hereunder are subject to the provisions of the Subordination and Intercreditor Agreement. In the event of any conflict between the terms of the Subordination and Intercreditor Agreement and this Pledge Agreement, the terms of the Subordination and Intercreditor Agreement shall govern and control.

Appears in 2 contracts

Samples: Subordinated Credit Agreement (Cano Petroleum, Inc), Subordinated Pledge Agreement (Cano Petroleum, Inc)

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Subordination and Intercreditor Agreement. Reference is made to the Subordination and Intercreditor Agreement, dated as of December 17, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Subordination and Intercreditor Agreement”), among Union Bank of California, N.A., as Senior Agent, and UnionBanCal Equities, Inc., as Subordinated Agent, and certain other persons, party or that may become party thereto from time to time. Notwithstanding anything herein to the contrary, this Pledge Security Agreement, the Liens granted to the Administrative Agent pursuant to this Pledge Security Agreement and the exercise of any right or remedy by the Administrative Agent or any of the Lenders hereunder are subject to the provisions of the Subordination and Intercreditor Agreement. In the event of any conflict between the terms of the Subordination and Intercreditor Agreement and this Pledge Security Agreement, the terms of the Subordination and Intercreditor Agreement shall govern and control.

Appears in 2 contracts

Samples: Subordinated Security Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc)

Subordination and Intercreditor Agreement. Reference is made to the Subordination and Intercreditor Agreement, dated as of December March 17, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Subordination and Intercreditor Agreement”), among Union Bank of California, N.A., as Senior Agent, and UnionBanCal Equities, Inc., as Subordinated Agent, and certain other persons, party or that may become party thereto from time to time. Notwithstanding anything herein to the contrary, this Pledge Agreement, the Liens granted to the Administrative Agent pursuant to this Pledge Agreement and the exercise of any right or remedy by the Administrative Agent or any of the Lenders hereunder are subject to the provisions of the Subordination and Intercreditor Agreement. In the event of any conflict between the terms of the Subordination and Intercreditor Agreement and this Pledge Agreement, the terms of the Subordination and Intercreditor Agreement shall govern and control.

Appears in 1 contract

Samples: Subordinated Pledge Agreement (Cano Petroleum, Inc)

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Subordination and Intercreditor Agreement. Reference is made to the Subordination and Intercreditor Agreement, dated as of December March 17, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Subordination and Intercreditor Agreement”), among Union Bank of California, N.A., as Senior Agent, and UnionBanCal Equities, Inc., as Subordinated Agent, and certain other persons, party or that may become party thereto from time to time. Notwithstanding anything herein to the contrary, this Pledge Security Agreement, the Liens granted to the Administrative Agent pursuant to this Pledge Security Agreement and the exercise of any right or remedy by the Administrative Agent or any of the Lenders hereunder are subject to the provisions of the Subordination and Intercreditor Agreement. In the event of any conflict between the terms of the Subordination and Intercreditor Agreement and this Pledge Security Agreement, the terms of the Subordination and Intercreditor Agreement shall govern and control.

Appears in 1 contract

Samples: Subordinated Security Agreement (Cano Petroleum, Inc)

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