Common use of Subordination of Remedies Clause in Contracts

Subordination of Remedies. Until all Senior Debt has been repaid in full and all Commitments by the Lender Group to extend credit under the Credit Agreement shall have been irrevocably terminated, following the occurrence of any Event of Default and until such Event of Default is cured or waived, no Obligor shall, without the prior written consent of Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such Obligor; (b) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor to any other Obligor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender in commencing, any bankruptcy, insolvency, or receivership proceeding against the other Obligor.

Subordination of Remedies. Until all As long as any Senior Debt has been repaid in full shall remain outstanding and all Commitments by the Lender Group to extend credit under the Credit Agreement shall have been irrevocably terminatedunpaid, following the occurrence and during the continuance of any Event of Default with respect to any Senior Debt and until such Event of Default is cured or waivedthe Subordinated Creditor for Subordinated Debt shall have received written notice from the Agent, no Obligor shalleach Subordinated Creditor shall not, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor Subordinated Creditor owing to such ObligorSubordinated Creditor; (b) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor Subordinated Creditor to any other Obligor Subordinated Creditor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor other than the Agent or any Lender and the Lenders in commencing, any bankruptcy, insolvency, or receivership proceeding against the other ObligorSubordinated Creditor.

Subordination of Remedies. Until all As long as any Senior Debt has been repaid in full shall remain outstanding and all Commitments by the Lender Group to extend credit under the Credit Agreement shall have been irrevocably terminatedunpaid, following the occurrence and during the continuance of any Event of Default with respect to any Senior Debt and until such Event of Default is cured or waivedthe Subordinated Creditor for Subordinated Debt shall have received written notice from the Agent, no Obligor shalleach Subordinated Creditor shall not, without the prior written consent of Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor Subordinated Creditor owing to such ObligorSubordinated Creditor; (b) exercise any rights under or with respect to guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor Subordinated Creditor to any other Obligor Subordinated Creditor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor other than Agent or any Lender and the Lenders in commencing, any bankruptcy, insolvency, or receivership proceeding against the other ObligorSubordinated Creditor.