Subordinations Clause Samples
The Subordinations clause establishes the priority of one party’s rights or claims in relation to those of other parties, typically in the context of debts or security interests. In practice, this means that a lender or creditor agrees that their claim will be ranked below the claims of another specified creditor, often in the event of default or liquidation. This clause is essential for managing risk among multiple creditors, as it clarifies the order in which debts will be repaid and helps facilitate additional financing by assuring senior creditors of their priority.
Subordinations. Bank shall have received subordinations satisfactory to it from (i) all lessors that might have landlord’s Liens on any Collateral and (ii) all Affiliates as required by Section 6.14.
Subordinations. Borrower shall provide Lender with debt subordination agreements, in form and substance satisfactory to Lender, executed by Borrower and any Person who is an officer, director, member, manager or Affiliate of Borrower to whom Borrower is or hereafter becomes indebted for borrowed money.
Subordinations. Borrower shall provide Lender with a -------------- subordination agreement, in form satisfactory to Lender, executed by any Person who is an officer or director of Borrower to whom Borrower is or hereafter becomes indebted for money borrowed in excess of $100,000, subordinating in right of payment and claim all of such indebtedness and any future advances thereon to the claims of Lender on the Note and the other Obligations so long as any amount remains unpaid on the Note or any of the Obligations. Such subordination agreement shall provide, among other things, that no principal or interest on any such indebtedness shall be repaid unless and until there is no outstanding balance due and payable on the Note or on any other Obligations of Borrower to Lender.
Subordinations. Provide Lender with a debt subordination -------------- agreement, in form and substance satisfactory to Lender, executed by such Borrower and any Person who is an officer, director or Affiliate of such Borrower to whom such Borrower is or hereafter becomes indebted for Money Borrowed, subordinating in right of payment and claim all of such Indebtedness and any future advances thereon to the full and final payment and performance of the Obligations.
Subordinations. Subordination agreement(s) duly executed by the Lessee under the Leases subordinating the Leases to the Mortgages.
Subordinations. Provide Agent with a debt subordination agreement, in form and substance satisfactory to Agent, executed by such Borrower and any Person who is an officer, director or Affiliate of such Borrower to whom such Borrower is or hereafter becomes indebted for Money Borrowed, subordinating in right of payment and claim all of such Indebtedness and any future advances thereon to the full and final payment and performance of the Obligations.
Subordinations. The Lender shall have received subordinations satisfactory to it from all lessors that might have landlord's Liens on any Collateral.
Subordinations. Borrower shall provide Agent with debt subordination agreements, in form and substance satisfactory to Agent, executed by Borrower and any Person who is an officer, director, member, manager or Affiliate of Borrower to whom Borrower is or hereafter becomes indebted for borrowed money; provided that no such subordination agreement will be required with respect to (i) indebtedness existing on the Closing Date and set forth on Schedule 9.2(L) attached hereto, (ii) non-cash loans, and (iii) other advances to employees for moving, entertainment, travel and other similar expenses in the ordinary course of business to the extent such amounts do not exceed $50,000 in the aggregate at any time outstanding.
Subordinations. A. Each of the Guarantors shall execute and deliver to Lender at Lender's request a Subordination Agreement (the "Subordination") of the Guarantors' subordinating to the Loan, and the right of the Lender to receive payments under the Loan, any and all of each Guarantors' indebtedness owed by the Borrower to each of the Guarantors.
B. Said Subordination Agreement may provide that so long as there shall be no Event of Default, Borrower shall be authorized to pay the regular installment of interest and principal payable on such subordinated debt in the ordinary course of business.
Subordinations. All management agreements, any development agreement, and reimbursement agreements shall be fully subordinated in right of priority and payment to the Lien and security interest of the Security Documents by a subordination in form and substance satisfactory to the Lender; and