Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary to be fully subordinated to all Secured Liabilities.
Appears in 3 contracts
Samples: Loan Agreement (Eagle Bulk Shipping Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent Affiliate or subsidiary and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent Affiliate or subsidiary to be fully subordinated to all Secured Liabilities.
Appears in 3 contracts
Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary to be fully and unconditionally subordinated to all Secured Liabilities.
Appears in 2 contracts
Samples: Credit Agreement (Scorpio Bulkers Inc.), Credit Agreement (Scorpio Bulkers Inc.)
Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary Affiliate and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary Affiliate to be fully subordinated to all Secured Liabilities.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Subordination of Loans. Each Except for the First Lien Loan, each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary to be fully subordinated to all Secured Liabilities.
Appears in 1 contract
Samples: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)
Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary Affiliate and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary Affiliate to be unsecured and fully subordinated to all Secured LiabilitiesLiabilities on terms acceptable to the Majority Lenders.
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Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary Affiliate and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary Affiliate to be unsecured and fully subordinated to all Secured LiabilitiesLiabilities on terms acceptable to the Majority Lenders and the K-Sure Agent.
Appears in 1 contract
Subordination of Loans. Each Security Party shall cause all loans made to it by any Affiliate, parent or subsidiary Affiliate and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary Affiliate to be unsecured and fully subordinated to all Secured Liabilities.Liabilities on terms acceptable to the Majority Lenders. 0103218-0000004 NY:20884372.11 61
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