Common use of Subordination to Payment of Guaranteed Obligations Clause in Contracts

Subordination to Payment of Guaranteed Obligations. Upon the occurrence and during the continuance of an Event of Default, all payments on account of all indebtedness, liabilities and other obligations of any Borrower to the Guarantor, whether created under, arising out of or in connection with any documents or instruments evidencing any credit extensions to the Borrower or otherwise, including all principal on any such credit extensions, all interest accrued thereon, all fees and all other amounts payable by any Borrower to the Guarantor in connection therewith, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined (the “Subordinated Debt”) shall be subject, subordinate and junior in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the prior payment in full in cash or cash equivalents of the Guaranteed Obligations.

Subordination to Payment of Guaranteed Obligations. Upon the occurrence and during the continuance of an Event of Default, all All payments on account of all indebtedness, liabilities and other obligations (other than those arising out of any Borrower intercompany transactions in the ordinary course of business) of the Borrowers to the each Guarantor, whether created under, arising out of or in connection with any documents or instruments evidencing any credit extensions Credit Extensions to the Borrower Borrowers or otherwise, including all principal on any such credit extensionsCredit Extensions, all interest accrued thereon, all fees and all other amounts payable by any Borrower the Borrowers to the such Guarantor in connection therewith, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined (the “Subordinated Debt”) shall be subject, subordinate and junior in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the prior payment in full in cash or cash equivalents of the Guaranteed Obligations.

Subordination to Payment of Guaranteed Obligations. Upon the occurrence and during the continuance of an Event of Default, all All payments on account of all indebtedness, liabilities and other obligations of the Borrower or any Borrower Guarantor (each an “Obligor” and collectively the “Obligors”) to the any Guarantor, whether created under, arising out of or in connection with any documents or instruments evidencing any credit extensions to the Borrower any Obligor or otherwise, including all principal on any such credit extensions, all interest accrued thereon, all fees and all other amounts payable by any Borrower Obligor to the such Guarantor in connection therewith, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined (the “Subordinated Debt”) shall be subject, subordinate and junior in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the prior payment in full in cash or cash equivalents of the Guaranteed Obligations.

Subordination to Payment of Guaranteed Obligations. Upon the occurrence and during the continuance of an Event of Default, all All payments on account of all indebtedness, liabilities and other obligations of the Company or any Designated Borrower to the each Guarantor, whether created under, arising out of or in connection with any documents or instruments evidencing any credit extensions to the Company or any Designated Borrower or otherwise, including all principal on any such credit extensions, all interest accrued thereon, all fees and all other amounts payable by the Company or any Designated Borrower to the such Guarantor in connection therewith, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined (the “Subordinated Debt”) shall be subject, subordinate and junior in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the prior payment in full in cash or cash equivalents of the Guaranteed Obligations.