Common use of SUBORDINATION AND SECURITY Clause in Contracts

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended). However, if there are sufficient Funding 1 Available Revenue Receipts available and the Eighth Issuer does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Seventh Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Seventh Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Seventh Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Seventh Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended)1986. However, if there are sufficient Funding 1 Available Revenue Availaxxx Xxxxnue Receipts available and the Eighth Seventh Issuer does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Seventh Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Seventh Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Seventh Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Seventh Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Seventh Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended)Axx 0000. However, if there are sufficient Funding 1 Available Revenue Receipts available and the Eighth Seventh Issuer does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Seventh Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Master Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Funding 2 Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE Clause 8 and SCHEDULE Schedule 3 of the Funding 1 2 Deed of Charge. 7.2 The Eighth Funding 2 Start-up Loan Provider further agrees that, without prejudice to CLAUSE Clause 8 of the Funding 1 2 Deed of Charge, its rights against Funding 1 2 under this Agreement are limited to the extent that Funding 1 2 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 2 which pursuant to the Funding 1 2 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Funding 2 Start-up Loan Provider under this Agreement and so that Funding 1 2 shall not be obliged to make any payment to the Eighth Funding 2 Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 2 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended). However, if there are sufficient Funding 1 2 Available Revenue Receipts available and the Eighth Issuer Funding 2 does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Sixth Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Sixth Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Sixth Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Sixth Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended)1986. However, if there are sufficient Funding 1 Available Revenue Avaixxxxx Xxvenue Receipts available and the Eighth Sixth Issuer does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Sixth Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Master Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Funding 2 Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 Clauses 6 and SCHEDULE 3 7 and Schedule 4 of the Funding 1 2 Deed of Charge. 7.2 The Eighth Funding 2 Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 Clause 7 of the Funding 1 2 Deed of Charge, its rights against Funding 1 2 under this Agreement are limited to the extent that Funding 1 2 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 2 which pursuant to the Funding 1 2 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Funding 2 Start-up Loan Provider under this Agreement and so that Funding 1 2 shall not be obliged to make any payment to the Eighth Funding 2 Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 2 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended). However, if there are sufficient Funding 1 2 Available Revenue Receipts available and the Eighth Issuer Funding 2 does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Fourth Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE Schedule 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Fourth Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Fourth Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Fourth Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended)Xxx 0000. However, if there are sufficient Funding 1 Available Revenue Receipts available and the Eighth Fourth Issuer does not repay the Advance when due in accordance with the terms hereof, such non-non- repayment will constitute an event of default under this Eighth Fourth Start-up Loan Agreement.

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that the Advance shall be subordinated to, inter alia, payments of principal and interest on any Intercompany Loan, and all other payments or provisions ranking in priority to payments to be made to the Eighth Sixth Start-up Loan Provider under this Agreement, in each case in accordance with the priority of payments or as provided in CLAUSE 8 and SCHEDULE 3 of the Funding 1 Deed of Charge. 7.2 The Eighth Sixth Start-up Loan Provider further agrees that, without prejudice to CLAUSE 8 of the Funding 1 Deed of Charge, its rights against Funding 1 under this Agreement are limited to the extent that Funding 1 has sufficient assets to meet its claims or any part thereof having taken into account all other liabilities, both actual and contingent, of Funding 1 which pursuant to the Funding 1 Deed of Charge rank pari passu with or in priority to its liabilities to the Eighth Sixth Start-up Loan Provider under this Agreement and so that Funding 1 shall not be obliged to make any payment to the Eighth Sixth Start-up Loan Provider hereunder if and to the extent that the making of such payment would cause Funding 1 to be or become unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 (as amended)Xxx 0000. However, if there are sufficient Funding 1 Available Revenue Receipts available and the Eighth Sixth Issuer does not repay the Advance when due in accordance with the terms hereof, such non-repayment will constitute an event of default under this Eighth Sixth Start-up Loan Agreement.