Common use of Subordination of Liabilities Clause in Contracts

Subordination of Liabilities. Maker and Guarantor, for themselves, their successors and assigns, covenant and agree, and Holder, by Holder’s acceptance of this Note, likewise covenants and agrees, that the payment of the principal of, interest on, and all other amounts owing in respect of, this Note (the “Subordinated Indebtedness”), and the obligations related to the security provided pursuant to Section 6, is hereby expressly subordinated, to the extent and in the manner set forth below, to the prior payment in full in cash of all Senior Indebtedness (as defined in Section 5(g) hereof). The provisions of this Section 5 shall constitute a continuing offer to all persons or other entities who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such holders are made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions.

Subordination of Liabilities. Maker and Guarantor[Name of Payor] (the “Payor”), for themselvesitself, their its successors and assigns, covenant covenants and agreeagrees, and Holder, each holder of the Note to which this Annex A is attached (the “Note”) by Holder’s its acceptance of this Note, thereof likewise covenants and agrees, that the payment of the principal of, interest on, and all other amounts owing in respect of, this the Note (the “Subordinated Indebtedness”), and the obligations related to the security provided pursuant to Section 6, ) is hereby expressly subordinated, to the extent and in the manner set forth below, to the prior payment in full in cash of all Senior Indebtedness (as defined in Section 5(g) hereof1.07 of this Annex A). The provisions of this Section 5 Annex A shall constitute a continuing offer to all persons or other entities who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such holders are made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions.

Subordination of Liabilities. Maker and Guarantor[Name of Payor] (the “Payor”), for themselvesitself, their its successors and assigns, covenant covenants and agreeagrees, and Holder, each holder of the Note to which this Annex is attached (the “Note”) by Holder’s its acceptance of this Note, thereof likewise covenants and agrees, that the payment of the principal of, interest on, and all other amounts owing in respect of, this the Note (the “Subordinated Indebtedness”), and the obligations related to the security provided pursuant to Section 6, ) is hereby expressly subordinated, to the extent and in the manner set forth below, to the prior payment in full in cash of all Senior Indebtedness (as defined in Section 5(g) hereof1.07 of this Annex ). The provisions of this Section 5 Annex shall constitute a continuing offer to all persons or other entities who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such holders are made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions.

Subordination of Liabilities. Maker and GuarantorUniroyal Technology Corporation (the "Company"), for themselvesitself, their its successors and assigns, covenant covenants and agreeagrees, and Holder, each holder of the Note to which this Annex A is attached (the "Note") by Holder’s its acceptance of this Note, thereof likewise covenants and agrees, that the payment of the principal of, interest on, and all other amounts owing in respect of, this the Note (the “"Subordinated Indebtedness”), and the obligations related to the security provided pursuant to Section 6, ") is hereby expressly subordinated, to the extent and in the manner hereinafter set forth belowout, to the prior payment in full in cash of all Senior Indebtedness (as defined in Section 5(g) hereof1.07 of this Annex A). The provisions of this Section 5 Annex A shall constitute a continuing offer to all persons or and other entities who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such holders persons and other entities are made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions.