Subordination of Obligations and Priority. (a) The payment of and any liens or security interests securing payment of any and all Subordinated Debt (defined below) is expressly subordinated to the extent and in the manner set forth in this Subordination Agreement to the Senior Indebtedness (defined below) and the liens and security interests securing the Senior Indebtedness. The term β
Appears in 3 contracts
Samples: Subordination Agreement (Doral Energy Corp.), Security Agreement (Doral Energy Corp.), Subordination Agreement (Doral Energy Corp.)
Subordination of Obligations and Priority. (a) The payment of and any liens or security interests securing payment of any and all Subordinated Debt (defined below) is are expressly subordinated to the extent and in the manner set forth in this Subordination Agreement to the Senior Indebtedness (defined below) and the liens and security interests securing the Senior Indebtedness. The term β
Appears in 1 contract
Samples: Subordination Agreement (Kentucky USA Energy, Inc.)
