Examples of Intercreditor Security Agreement in a sentence
Stigma and discrimination put the mental health and well-being of individuals and groups at risk, which makes it tough for people to feel a sense of control over their lives and to feel like they are at the right place.
The Company and Representative acknowledge and agree that each Note Holder is a third-party beneficiary under this Intercreditor Security Agreement, and that each Note Holder may enforce any and all rights arising under this Intercreditor Security Agreement.
Notwithstanding anything to the contrary contained in this Section 6 or elsewhere in this Intercreditor Security Agreement, the Company may repay in full the Note liabilities, so long as no event of default (as defined in the Note or loan documentation between the Company and the senior lender) has occurred and is continuing at the time of any such payment.
Each Note Holder has agreed to be bound by the terms and conditions to this Intercreditor Security Agreement pursuant to execution of it and of the Subscription Agreement.
Furthermore, no payments or other distributions in respect of the Notes shall be made (whether at stated maturity, by acceleration or otherwise) nor shall any property or assets of the Company be applied to the purchase or other acquisition or retirement of any Note liabilities prior to the termination of this Intercreditor Security Agreement, unless otherwise agreed to in writing by the senior lender.
The Note Holder agrees that, except as expressly otherwise provided in this Intercreditor Security Agreement or as any senior lender of the Company may otherwise expressly consent in writing, the payment of the Notes shall be postponed and subordinated in right of payment and priority to the payment in full of the liabilities to the senior lender.
Note Holder further acknowledges that all Security and filings granted and made under the Note shall be held, pursuant to this Intercreditor Security Agreement, in the name of _________________, who shall act as the initial Representative for all Note Holders.
The Company hereby authorizes the Note Holder, through the designated Representative, to file any UCC financing statements, and any amendment or modifications thereto or continuations thereof, and to file any other instrument or document, and take any other action the Representative deems necessary or appropriate to perfect or protect the Security Interest created under this Intercreditor Security Agreement.
COLONIAL IMPACT FUND-II, LLC By: Colonial Capital Management LLC, its Manager By: Date: , 20 INTERCREDITOR SECURITY AGREEMENT This Intercreditor Security Agreement, dated as of , 2015, is by and between Colonial Impact Fund-II, LLC, a Delaware limited liability company (the “Fund”), and Colonial Capital Management LLC, a Texas limited liability company (“CCM”) as Representative or its successor thereto, and the undersigned (“Note Holder”).