Parent Subordination Agreement definition

Parent Subordination Agreement means a subordination agreement dated as of the date hereof duly executed by the Parent and delivered to the Administrative Agent.

Parent Subordination Agreement means the subordination agreement in the agreed form between the Parent (as the lender) and the Security Trustee, pursuant to which, whilst sums remain outstanding under the Finance Documents, no payment of interest, repayment of principal or any other payments of any kind can be made in respect of indebtedness owed by the Borrower to the Parent, save for certain Permitted Payments.

Parent Subordination Agreement means the Intercreditor Agreement entered into by the Parent in favour of the Agent and the Lender on the Original Closing Date in form and substance satisfactory to the Lenders, as the same may be amended, restated, supplemented or replaced from time to time, pursuant to which the Parent agreed to subordinate and postpone the Parent Subordinated Debt to the Obligations and Security, which Intercreditor Agreement may expressly permit the servicing of such Subordinated Debt on account of interest on a monthly basis and principal on an annual basis subject to the prior Repayment required to be made pursuant to Section 2.04(c)(iv) (Annual Excess Cash Flow Sweep), and provided that immediately before and immediately after such Distribution, the Borrower shall be in pro forma compliance with the financial covenants in Section 5.03 and the Borrower shall have delivered a pro forma Compliance Certificate evidencing such compliance.

Examples of Parent Subordination Agreement in a sentence

• Any Indebtedness which is subject to a Parent Subordination Agreement.

• Borrower shall utilize the proceeds of the Revolving Loan and the Swing Line Loan solely for the financing of Borrower's ordinary working capital and general corporate needs and to pay any related transaction expenses of Borrower, and to repay and fund intercompany loans and pay related affiliate transactions as permitted by this Agreement and the Parent Subordination Agreement.

• Exhibit Contents A-1 Revolving Note A-2 Swing Line Note B Assumption and Release Agreement C Compliance Certificate D Material Subsidiary Guaranty E New Material Subsidiary Guaranty F Parent Agreement Release G Acknowledgement and Confirmation of Parent Negative Pledge and Parent Subordination Agreement.

• Except as set forth herein, each of the Loan Documents remains in full force and effect in accordance with its terms, provided, however, that it is acknowledged that the Agent, on behalf of itself and the Banks, has released and terminated the Parent Negative Pledge and the Parent Subordination Agreement as provided in Section 12.3 of the Credit Agreement.

• All Obligations constitute Indebtedness entitled to the benefits of the subordination provisions contained in the Parent Subordination Agreement.

More Definitions of Parent Subordination Agreement

Parent Subordination Agreement means a subordination agreement between the Parent and the Agent as of October 2, 2007, as confirmed to the Agent pursuant to an acknowledgement and confirmation as provided in Section 6.1(c) hereof in the form of Exhibit F.

Parent Subordination Agreement means that certain Agreement of Subordination, dated as of the date hereof, by and among the Parent, the Lenders, and Rabobank.

Parent Subordination Agreement means the Intercreditor Agreement to be entered into by the Parent in favour of the Agent and the Lender on the Closing Date in form and substance satisfactory to the Lenders, as the same may be amended, restated, supplemented or replaced from time to time, pursuant to which the Parent agrees to subordinate and postpone the Parent Subordinated Debt to the Obligations and Security, which Intercreditor Agreement shall expressly permit the servicing of such Subordinated Debt only after the Conversion Date and in such case on account of interest on a monthly basis and principal on an annual basis subject to the prior Repayment required to be made pursuant to Section 2.04(c)(iv) (Annual Excess Cash Flow Sweep), and provided that immediately before and immediately after such Distribution, the Borrower shall be in pro forma compliance with the financial covenants in Section 5.03 and the Borrower shall have delivered a pro forma Compliance Certificate evidencing such compliance.

Parent Subordination Agreement a subordination agreement, substantially in the form of Exhibit C to the Seventh Amendment or in form and substance otherwise satisfactory to the Administrative Agent, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.15.

Parent Subordination Agreement means the Subordination Agreement between Parent, Lender and ELXSI, which was executed in connection with Original Loan Agreement, as it may be amended, restated, supplemented or otherwise modified from time to time.

Parent Subordination Agreement means the subordination agreement, dated as of the Issue Date, between the Company, Parent, Ispat International Group Finance Limited Liability Company, any other Subordinated Lender (as defined therein) and the Trustee.

Parent Subordination Agreement means the subordination agreement dated 15 July 2002 made between the Parent (as the creditor), the Intermediate Parent (as borrower) and the Security Trustee as amended and restated by an amendment agreement dated on or about the Restatement Amendment Effective Date, pursuant to which, whilst sums remain outstanding under the Finance Documents, no payment of interest, repayment of principal or any other payments of any kind can be made in respect of any indebtedness owed by the Intermediate Parent to the Parent, save as provided therein.