Common use of Subordination Following Default Clause in Contracts

Subordination Following Default. Following the occurrence and continuation of an Event of Default under the Loan Documents, the payment of any amounts due with respect to any indebtedness of the Borrower now or hereafter held by the Guarantor is hereby subordinated to the prior payment in full of the Borrower’s Obligations.

Subordination Following Default. Following the occurrence and continuation of an During a continuing Event of Default under the Term Note, Revolving Note, Loan Agreement and/or all other Loan Documents, the payment of any amounts due with respect to any indebtedness of the Borrower now or hereafter held by the Personal Guarantor is hereby subordinated to the prior payment in full of the Borrower’s Obligations.

Subordination Following Default. Following the occurrence and continuation of an During a continuing Event of Default under the Term Note, Revolving Note, Loan Agreement and/or all other Loan Documents, the payment of any amounts due with respect to any indebtedness of the Borrower now or hereafter held by the Guarantor Corporate Guarantors is hereby subordinated to the prior payment in full of the Borrower’s Obligations.