Deed of Subordination definition

Deed of Subordination means each deed of subordination in respect of Financial Indebtedness of either (i) the Obligors owed to any member of the KEL Group, or (ii) Obligors owed to KEH, in each case substantially in the form of Schedule 14 (Form of Deed of Subordination).

Deed of Subordination means the deed of subordination entered into or to be entered into between (1) the Lender, (2) the Obligors and (3) the Subordinated Creditor.

Deed of Subordination means a deed of subordination to be entered into between the Security Trustee and any Relevant Person pursuant to the terms of this Agreement substantially in the form of schedule 8 with such changes as are satisfactory to the Banks;

Examples of Deed of Subordination in a sentence

• This Agreement, the other Transaction Documents, and the obligations of Company hereunder are subject in all respects to the terms of that certain Deed of Subordination by and among Company, Investor and Bank of New Zealand of even date herewith (as amended, modified or supplemented, the “Subordination Deed”), a copy of which is attached hereto as Exhibit C.

• The occurrence of a material breach by an Obligor which is party to the Deed of Subordination and which has an Obligor Material Adverse Effect, unless the relevant Obligor has cured (or procured the curing of) the situation so that no Material Adverse Effect exists within a period of ten (10) Business Days from receipt of a written notice from the Facility Agent.

• The Facility Agent and, amongst others, the AMB Agent entered into the facility agreement and the Deed of Subordination both dated 8 December 2006.

• The Parent covenants with the Lender that it will promptly upon receipt of any amount received from Net1 South Africa or any Subsidiary of Net1 South Africa advance that amount to the Borrower according to mutually agreeable terms between the Lender and the Parent and subject to the Deed of Subordination, to enable to Borrower to comply with its obligations under the Finance Documents.

• See section 5 of this PDS (Key Features of the Bonds) for a summary of the Deed of Subordination and the circumstances in which payments may be deferred.Secondary market risk Turners intends to quote the Bonds on the NZX Debt Market, which means Bondholders may be able to sell them on the NZX Debt Market before the end of their term if there are interested buyers.However, there may be no active trading market and an investment in Bonds may not be very liquid.

More Definitions of Deed of Subordination

Deed of Subordination means each deed of subordination in respect of Financial Indebtedness of the Borrower owed to the Obligors, in each case substantially in the form of Schedule 9 (Form of Deed of Subordination);

Deed of Subordination means the Deed of Subordination (where applicable) entered into pursuant to the terms and conditions of the Facility Letter and this Deed and the expression shall also include such additions, amendments, supplements, modifications, variations or substitutions thereto;

Deed of Subordination means a deed in or substantially in the form of schedule 6.

Deed of Subordination means any instrument evidencing subordination and priority arrangements entered or to be entered into pursuant to clause 21.2.5 (Indebtedness);

Deed of Subordination means the deed of subordination to be entered into by the Purchaser, the Company and Barclays Bank PLC, relating to the New Loan Notes;

Deed of Subordination means the deed of subordination, dated the date hereof, between, inter alia, the Borrowers, the Lenders, CSEL, the Security Trustee and the Administrative Agent as the same may be amended or supplemented from time to time.

Deed of Subordination means a deed of subordination (in form and substance satisfactory to the Bank) to be executed by the Guarantor;