Subordination to Lien of Missouri State Bank. Effective upon the satisfaction of the conditions precedent set forth in Section 4 below, McKesson agrees to subordinate the priority of its liens and security interests in the personal property of Accentia to a duly perfected security interest in favor of Missouri State Bank which secures a loan to Accentia not to exceed $5,000,000 for principal. Said subordination shall be of priority only and (i) payments to McKesson as required by the Assumption Documents, as amended by this Amendment, shall be permitted to continue, and (ii) McKesson shall not be obligated to agree to any restrictions on its ability to exercise its rights and remedies as it may in its discretion determine, so long as McKesson acts in accordance with the Assumption Documents and applicable law. The foregoing subordination shall be in addition to its subordination to the Senior Credit Facility.
Appears in 5 contracts
Samples: Assumption of Debt and Security Agreement (Accentia Biopharmaceuticals Inc), Assumption of Debt and Security Agreement (Accentia Biopharmaceuticals Inc), Assumption of Debt and Security Agreement (Accentia Biopharmaceuticals Inc)
