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
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Nlight, Inc.)
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 ObligationsObligations pursuant to a subordination agreement on Lender’s standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding.
Appears in 1 contract
Subordination of Inside Debt. All present Present and future indebtedness for borrowed money of Borrower to its officers, directors and shareholders (“Inside Debt”) shareholders, shall, at all times, be subordinated to the ObligationsSubordinated Debt.
Appears in 1 contract
