Common use of Subordination of Inside Debt Clause in Contracts

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 Borrowers Borrower 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 BankLender’s standard form. Borrowers represent Borrower represents and warrant warrants that there is no Inside Debt presently outstanding, except for the following: None. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person person to whom such Inside Debt will be owed to execute and deliver to Bank Lender a subordination agreement on BankLender’s standard form.

Subordination of Inside Debt. All present and future indebtedness of Borrowers Borrower 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 Borrower represents and warrant warrants that there is no Inside Debt presently outstanding, except as provided in the Representations. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person 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 Borrowers Borrower 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 BankLender’s standard form. Borrowers represent Borrower represents and warrant warrants that there is no Inside Debt presently outstanding, except for the Indebtedness referred to in Section 8(a)(1) above. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person person to whom such Inside Debt will be owed to execute and deliver to Bank Lender a subordination agreement on BankLender’s standard form.

Subordination of Inside Debt. All present and future indebtedness of Borrowers Borrower 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 Borrower represents and warrant warrants that there is no Inside Debt presently outstanding. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person 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 Borrowers Borrower 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 's standard form. Borrowers represent Borrower represents and warrant warrants that there is no Inside Debt presently outstanding, except as provided in the Representations. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person person to whom such Inside Debt will be owed to execute and deliver to Bank a subordination agreement on Bank’s 's standard form.

Subordination of Inside Debt. All present and future indebtedness of Borrowers Borrower 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 BankLender’s standard form. Borrowers represent Borrower represents and warrant warrants that there is no Inside Debt presently outstanding, except for the following: NONE. Prior to incurring any Inside Debt in the future, Borrowers Borrower shall cause the Person person to whom such Inside Debt will be owed to execute and deliver to Bank Lender a subordination agreement on BankLender’s standard form.