Common use of Subordination May Clause in Contracts

Subordination May. Not Be Impaired by the Borrower. No right of any holder of any Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by this Note shall be impaired by any failure to act by the Borrower or such holder of Senior Indebtedness or by the failure of the Borrower or such holder to comply with this Note. The provisions of this Section 7 shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness as a result of the insolvency, bankruptcy or reorganization of the Borrower or any of its Subsidiaries or otherwise, all as though such payment had not been made.

Subordination May. Not Be Impaired by the BorrowerMaker. No right of any holder of any Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by this Subordinated Note shall be impaired by any failure to act by the Borrower Company or such holder of Senior Indebtedness or by the failure of the Borrower Company or such holder to comply with this Subordinated Note. The provisions of this Section 7 Annex B shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness as a result of the insolvency, bankruptcy or reorganization of the Borrower or any of its Subsidiaries Company or otherwise, all as though such payment had not been made.

Subordination May. Not Be Impaired by the BorrowerMaker. No right of any holder of any Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by this Subordinated Note shall be impaired by any failure to act by the Borrower Company or such holder of Senior Indebtedness or by the failure of the Borrower Company or such holder to comply with this Subordinated Note. The provisions of this Section 7 Annex A shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness as a result of the insolvency, bankruptcy or reorganization of the Borrower or any of its Subsidiaries Company or otherwise, all as though such payment had not been made.