Subordination of Loans. Each of the Borrowers shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a Guarantor to be fully subordinated (in Agreed Form) to all Secured Liabilities.
Appears in 4 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Subordination of Loans. Each of the The Borrowers shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a Guarantor to be fully subordinated (in Agreed Form) to all Secured Liabilities.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
Subordination of Loans. Each of the Borrowers Borrower and the Owner Guarantors shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a Guarantor to be fully subordinated (in Agreed Form) to all Secured LiabilitiesLiabilities pursuant to a Subordination Agreement.
Appears in 2 contracts
Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)
Subordination of Loans. Each of the Borrowers Borrower shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, an Approved Manager and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a Guarantor to be fully subordinated (in Agreed Form) to all Secured Liabilities.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
Subordination of Loans. Each of the Borrowers Borrower shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a any Guarantor to be fully subordinated (subordinated, in Agreed Form) form and substance acceptable to all Secured Liabilitiesthe Lender, to the Borrowers’ Obligations to the Lender.
Appears in 1 contract
Samples: Loan and Security Agreement (Pangaea Logistics Solutions Ltd.)
Subordination of Loans. Each of the Borrowers The Borrower shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a any Guarantor to be fully subordinated (subordinated, in Agreed Form) form and substance acceptable to all Secured Liabilitiesthe Lender, to the Borrower’s Obligations to the Lender.
Appears in 1 contract
Samples: Loan and Security Agreement (Pangaea Logistics Solutions Ltd.)
Subordination of Loans. Each of the Borrowers The Borrower shall cause all loans made to it by any Affiliate, parent or subsidiary or any Guarantor, and all sums and other obligations (financial or otherwise) owed by it to any Affiliate, parent or subsidiary or to an Approved Manager or a Guarantor to be fully subordinated (in Agreed Form) to all Secured Liabilities.
Appears in 1 contract
