Examples of Shareholder Subordination Agreement in a sentence
Each Borrower covenants that it will not (i) make any payment (including any principal, premium, interest, fee or charge) with respect to any Subordinated Debt except, in each instance, to the extent, and in the manner, expressly permitted by the Selling Shareholder Subordination Agreement or other subordination agreement relating to such Subordinated Debt, or (ii) repurchase, redeem, defease, acquire or reacquire for value any of the Subordinated Debt.
The Selling Shareholder Subordination Agreement, duly executed by the Selling Shareholder and acknowledged by IntriCon, in form and substance acceptable to the Bank.
Each of the BofA Intercreditor Agreement, the CLD Intercreditor Agreement, the Toshiba Subordination Agreement and the Shareholder Subordination Agreement is a “subordination agreement” for purposes of section 510(a) of the Bankruptcy Code and is enforceable on its terms.