Examples of Subordinated Agents in a sentence
The Senior Agent and the Senior Lenders shall have no obligation or duty to protect the Subordinated Agent's or any Subordinated Lender's rights of subrogation arising pursuant to this Subordination Agreement or under any applicable law, nor shall the Senior Agent, the Senior Lenders or any other holder of Senior Indebtedness be liable for any loss to, or impairment of, any subrogation rights held by the Subordinated Agent or any Subordinated Lender.
The subordination of Liens and claims by the Subordinated Agent and the Subordinated Lenders in favor of the Senior Agent and the Senior Lenders shall not be deemed to subordinate the Subordinated Agent's Liens or claims to the Liens or claims of any other Person that is not a holder of Senior Indebtedness.
The Subordinated Agent and the Subordinated Lender hereby agree that if the Senior Agent and/or any Senior Lender agrees to a waiver of any provision hereunder, or an exchange of or release of collateral, or the addition or release of any Person as an Obligor, any such action shall not constitute a waiver of any of the Senior Agent's and/or any Senior Lender's other rights or of the Subordinated Agent's or any Subordinated Lender's obligations hereunder.
The Borrower shall make each payment under the Subordinated Loan Agreement and under the Subordinated Notes not later than 12:00 noon (New York, New York time) on the day when due to the Subordinated Agent's Account in immediately available funds.
After any retiring Subordinated Agent's resignation or removal hereunder as Subordinated Agent, the provisions of this Article 8 shall inure to its benefit as to any -42- 48 actions taken or omitted to be taken by it while it was Subordinated Agent this Subordinated Loan Agreement and the other Subordinated Loan Documents.
This Subordination Agreement is solely for the benefit of the Senior Agent, the Senior Lenders, the Representative, the Subordinated Agents and the Subordinated Lenders and their respective successors and assigns, and neither any Obligor nor any other Persons are intended to be a third party beneficiary hereunder or to have any right, benefit, priority or interest under, or because of the existence of, or to have any right to enforce, this Subordination Agreement.
Whenever any determination, consent, or approval is to be made or given by the Subordinated Agent or the Subordinated Lenders, such action shall be in the Subordinated Agent's or Subordinated Lenders', as applicable, sole discretion unless otherwise specified in this Subordinated Loan Agreement.
The Senior Agent and the Subordinated Agents shall have the right to modify or terminate this Subordination Agreement at any time without notice to or approval of any Obligor or any other Person.
Whenever any determination, consent, or approval is to be made or given by the Subordinated Agent or the Subordinated Lenders, such action shall be in the Subordinated Agent's or Subordinated Lenders', as applicable, sole discretion unless otherwise specified in this -42- 48 Subordinated Loan Agreement.
The Subordinated Agent and the Subordinated Lenders hereby agree that if the Senior Agent or any Senior Lender agrees to a waiver of any provision hereunder, or an exchange of or release of collateral, or the addition or release of any Person as a Credit Party, any such action shall not constitute a waiver of any of the Senior Creditor's other rights or of the Subordinated Agent's or any Subordinated Lender's obligations hereunder.