Common use of Subordination of Inside Debt Clause in Contracts

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, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 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 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 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept 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 '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 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than except for the following: - $100,000 outstanding0 -. 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 '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, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than except for the following: - $100,000 outstanding0 -. 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 Obligations pursuant to a subordination agreement on Silicon’s 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than except for the following: $100,000 outstanding2,000,000 Convertible Preferred Stock. 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 '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, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept for the following: NONE. 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. 3.

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 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than except for the following: $100,000 outstanding120,000 loan to Xx. Xxxxxx Xxxxxxx. 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 '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 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept 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 '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, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept for the following: None. 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 (excluding reasonable salary, bonus and expense reimbursement) of the Borrower to its officers, directors and shareholders (“Inside shareholders,(“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon’s standard form, except for Inside Debt totaling not more than $100,000 at any time outstanding. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 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 Borrowers 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, except for Inside Debt totaling not more than $100,000 at any time outstanding. Each Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept 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 the Borrower to its officers, directors and shareholders owning at least 5% of Borrower (“"Inside Debt”") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon’s 's standard form, except for Inside Debt totaling not more than $100,000 at any time outstandingform or in accordance with the terms of such debt instrument. Borrower represents and warrants that there is no Inside Debt presently outstanding, totaling not more than $100,000 outstandingexcept for convertible debt instruments previously disclosed to Silicon. 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 's standard form.