Examples of Bank Subordination Agreement in a sentence
Interest shall be payable in arrears in cash on each Payment Date, subject to any restriction on such payment in the Bank Subordination Agreement.
The TCW Sub Notes are senior to the Junior Sub Debt pursuant to the terms of the Junior Sub Subordination Agreement and are junior and subordinated to the Senior Bank Debt and Senior Sub Debt pursuant to the Bank Subordination Agreement and the TCW Subordination Agreement, respectively.
Inland shall have the option to accrue interest (in lieu of cash payment thereof) until the Interest Payment Commencement Date at which time quarterly cash interest payments on each Payment Date shall be mandatory, subject to any restriction on such payment in the Bank Subordination Agreement.
Reference is made to that certain subordination agreement, dated March 15, 2010 executed by Holder and accepted by the Bank and Company (the “Bank Subordination Agreement”) and that certain subordination agreement, dated [____________] executed by Holder and accepted by TAG and Company, in each instance subordinating this Note to the Senior Debt (the “TAG Subordination Agreement” and together with the Bank Subordination Agreement, the “Subordination Agreements”).
Subject to the restrictions in the Bank Subordination Agreement, if any Event of Default shall occur, the Requisite Holders may protect and enforce their rights under the Note Purchase Documents by any appropriate proceedings, including proceedings for specific performance of any covenant or agreement contained in any Note Purchase Document, and the Requisite Holders may enforce the payment of any Obligations due or enforce any other legal or equitable right.
Even though HC Crown Corp., a Delaware corporation ("HC"), is not a signatory to the Bank Subordination Agreement, it agrees to be bound by the terms thereof as if it were a "Subordinated Creditor" as that term is defined in the Bank Subordination Agreement and as if the obligations of the Company pursuant to this Promissory Note were explicitly enumerated as being included in the Subordinated Obligations as defined in the Bank Subordination Agreement.
SECTION 7.3 The Company shall have the privilege at any time and from time to time, to prepay this Note in whole or in part without premium or penalty to the extent permitted by the Bank Subordination Agreement, the Bank Facility and the Subordination and Support Agreement.
This Note, together with the Security Agreement and the ANB Bank Subordination Agreement (as defined in the Security Agreement), constitutes the entire agreement between the Company and the Holder pertaining to the subject matter hereof, and any and all other written or oral agreements existing between the Company and the Holder are expressly canceled.
Xxxxxxxxxxx subordinating Noble's indebtedness to him to Noble's indebtedness to Bank ("Subordination Agreement").
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