Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Lien of PFG in respect of and prior payment of Obligations. Borrower represents and warrants that there is no Inside Debt presently outstanding, except as set forth in Exhibit A. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to PFG a subordination agreement on PFG’s standard form.
Subordination of Inside Debt. All present and future indebtedness of the Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: _____________ . Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrowers to its officers, directors and shareholders (other than Indebtedness currently outstanding under the Senior Secured Convertible Debentures) (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Bank’s standard form. Borrowers represent and warrant that there is no Inside Debt presently outstanding. Prior to incurring any Inside Debt in the future, Borrowers shall cause the Person to whom such Inside Debt will be owed to execute and deliver to Bank a subordination agreement on Bank’s standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: $800,000 plus accrued interest to Digital Investors, L.L.C. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (each an “Inside Debtor” and any such indebtedness of Borrower to such Inside Debtors is hereinafter referred to as “Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement in form and substance satisfactory to Silicon in its good faith business judgment. Borrower represents and warrants that there is no
Subordination of Inside Debt. All present and future indebtedness of the Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the Xxxxxx Note, the L&H Note, the Philips Note and the Additional Philips Obligation (each as defined herein). Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors, shareholders and Affiliates (collectively, “Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement satisfactory to Lender. Borrower represents and warrants that as of the Restatement Date there is no Inside Debt presently outstanding. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Lender a subordination agreement on satisfactory to Lender.
Subordination of Inside Debt. All present and future indebtedness for borrowed money of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Obligations
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Multiplier’s standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: $12,196.04 owed by Xander Oxxxx to the Company in connection with the Company’s payment of his personal AMEX credit card to enable the Company to use his AMEX credit card for Company expenses. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Multiplier a subordination agreement on Multiplier’s standard form.
