Examples of Intercompany Subordinated Indebtedness in a sentence
Borrower and each Guarantor agrees that the Intercompany Subordinated Indebtedness (as defined below) shall be subordinate and junior in right of payment to the prior payment in full of all Obligated Party Obligations (as defined below) as herein provided.
Borrower agrees that the Intercompany Subordinated Indebtedness (as defined below) shall be subordinate and junior in right of payment to the prior payment in full of all Credit Facility Senior Indebtedness (as defined below) as herein provided.
Without the prior written consent of the Administrative Agent, the Subordinate Creditor shall not amend or otherwise modify any of the Intercompany Subordinated Indebtedness Agreements.
The foregoing shall not restrict the periodic updating of the grid attached to each Intercompany Subordinated Indebtedness Agreement.
Cause any Intercompany Indebtedness owing by any Loan Party to become Intercompany Subordinated Indebtedness (a) on or prior to the Closing Date, in respect of any such Intercompany Indebtedness in existence as of the Closing Date or (b) contemporaneously with the incurrence thereof, in respect of any such Intercompany Indebtedness incurred at any time after the Closing Date.