Subordination of Subordinated Indebtedness. The Payee, for itself and its successors and assigns, by acceptance hereof, covenants and agrees, for the benefit of the holders of Senior Indebtedness from time to time, and the Borrower acknowledges and agrees, that the Subordinated Indebtedness shall be subordinated and subject and junior in right of payment, to the extent and in the manner set forth in this Section 4, to all Senior Indebtedness.
Appears in 4 contracts
Samples: Subordinated Note (Paramount Acquisition Corp), Subordinated Note (Paramount Acquisition Corp), Stock Purchase Agreement (Paramount Acquisition Corp)
