Subordinated Agreements definition
Examples of Subordinated Agreements in a sentence
If any Subordinating Creditor, in contravention of the terms of this Agreement, shall attempt to collect any of the Subordinated Debt or enforce any of the Subordinated Agreements in respect of the Subordinated Debt, then the Agent, any Lender or the Borrower may, by virtue of this Agreement, restrain the enforcement thereof in the name of the Agent or such Lender or in the name of the Borrower.
Notwithstanding clauses 2 and 3, nothing contained in this Deed is intended to or shall impair, as between the members of the Restricted Group and the Subordinated Creditor, the obligations of the members of the Restricted Group under the Subordinated Agreements, including the obligation to pay to the Subordinated Creditor all of the Subordinated Liabilities.
Each Subordinating Creditor hereby acknowledges and agrees that the Subordinated Debt and all obligations arising under or in connection with the Subordinated Agreements are and shall remain unsecured at all times while this Agreement is in effect.
Agent shall take all other actions reasonably requested by the Subordinated Lender in connection with the Subordinated Lender obtaining a first-priority security interest (subject only to security interests permitted under the Subordinated Agreements) in the Collateral or as a court of competent jurisdiction may otherwise direct, all at the expense of Subordinated Lender.
Proceeds of the Collateral include insurance proceeds, and therefore, notwithstanding the terms set forth in the Senior Lending Agreements or Subordinated Agreements, the priorities set forth in Section 3.2 govern the ultimate disposition of casualty insurance proceeds.