Common use of Subordination of Subordinated Indebtedness Clause in Contracts

Subordination of Subordinated Indebtedness. Anything in any Subordinated Indebtedness Document to the contrary notwithstanding, each Credit Party, for itself and its successors and assigns, covenants and agrees that, to the extent and in the manner hereinafter set forth, all Subordinated Indebtedness held by such Credit Party and its successors and assigns (such Credit Party and its successors and assigns, the "Affiliate Holder"), and the payment from whatever source of the principal of, and interest and premium (if any) on, such Subordinated Indebtedness, are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash of all Senior Indebtedness:

Appears in 3 contracts

Samples: Global Security Agreement (Global Crossing LTD), Intercreditor Agreement (Global Crossing LTD), Affiliate Subordination Agreement (Global Crossing LTD)

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Subordination of Subordinated Indebtedness. Anything in any Subordinated Indebtedness Document to the contrary notwithstanding, each Credit Party, for itself and its successors and assigns, covenants and agrees that, to the extent and in the manner hereinafter set forth, all Subordinated Indebtedness held by such Credit Party and its successors and assigns (such Credit Party and its successors and assigns, the "β€œAffiliate Holder"”), and the payment from whatever source of the principal of, and interest and premium (if any) on, such Subordinated Indebtedness, are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash of all Senior Indebtedness:

Appears in 2 contracts

Samples: Global Security Agreement (Global Crossing LTD), Affiliate Subordination Agreement (Global Crossing Uk Telecommunications LTD)

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Subordination of Subordinated Indebtedness. Anything in any Subordinated Indebtedness Document to the contrary notwithstanding, each Non-Credit Party, for itself and its successors and assigns, Party covenants and agrees that, to the extent and in the manner hereinafter set forth, all Subordinated Indebtedness held by such Non-Credit Party and its successors and assigns (such Credit Party and its successors and assigns, the "Affiliate Holder")Party, and the payment from whatever source of the principal of, and interest and premium (if any) on, such Subordinated Indebtedness, are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash of all Senior IndebtednessIndebtedness and that:

Appears in 2 contracts

Samples: Credit Agreement (AbitibiBowater Inc.), Credit Agreement (AbitibiBowater Inc.)

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