Subordination of shareholder loans. The Borrower shall procure that each Collateral Owner shall subordinate any shareholder loans or inter company borrowings to the Indebtedness.
Appears in 2 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Safe Bulkers, Inc.
Subordination of shareholder loans. The Borrower shall procure that each Collateral Owner shall subordinate any shareholder loans or inter inter-company borrowings to the Indebtedness.
Appears in 2 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)