Subordinated Claimant definition
Examples of Subordinated Claimant in a sentence
Each Subordinated Claimant (and the Subordinated Representative therefor) agrees that the provisions of this Article VI shall be enforceable against it under all circumstances, including without limitation in any proceeding referred to in Sections 4.01(f) and 4.01(g) hereof.
Nothing in this Article X shall impair, as between the Issuer and any Senior Claimant or any Subordinated Claimant, the obligations of the Issuer to such Person, including without limitation the Senior Claims and the Subordinated Claims; provided that it is understood that the enforcement of rights and remedies shall be subject to the terms of this Indenture and the Security Trust Agreement.
Nothing in this Article VI shall impair, as between the Borrower and any Senior Claimant or any Subordinated Claimant, the obligations of the Borrower to such Person, including without limitation the Senior Claims and the Subordinated Claims; provided that it is understood that the enforcement of rights and remedies shall be subject to the terms of this Intercreditor Agreement and the Security Agreement.
The Subordinated Claimants (and each Subordinated Representative of any thereof) agree that no payment or distribution to any Senior Claimant (or the Facility Agent therefor) pursuant to the provisions of this Intercreditor Agreement shall entitle any Subordinated Claimant (or any Subordinated Representative thereof) to exercise any rights of subrogation in respect thereof until all Obligations constituting Senior Claims with respect to such Person shall have been finally and indefeasibly paid in full.
Each Subordinated Claimant (and the Subordinated Representative therefor) agrees that the provisions of this Article X shall be enforceable against it under all circumstances, including without limitation in any proceeding referred to in Sections 4.01(e) and 4.01(f) hereof.
The Subordinated Claimants (and each Subordinated Representative of any thereof) agree that no payment or distribution to any Senior Claimant (or the Trustee therefor) pursuant to the provisions of this Indenture shall entitle any Subordinated Claimant (or any Subordinated Representative thereof) to exercise any rights of subrogation in respect thereof until all Obligations constituting Senior Claims with respect to such Person shall have been paid in full.
Each Subordinated Claimant agrees that it will not, without the prior written consent of the Senior Agent, agree to any amendment, modification or supplement to the Subordinated Documents other than any immaterial amendment which is not adverse to the rights of the Senior Lenders; provided, however, the foregoing shall not restrict any Subordinated Claimant from waiving any default under the Subordinated Documents.
Notwithstanding any failure of any such transferee to execute and deliver such a counterparty agreement and acknowledgement and consent, this Agreement shall survive any sale, assignment, disposal or other transfer of all or any portion of the Subordinated Claims to such transferee and the terms of this Agreement shall be binding upon the successors, transferees and assigns of the Subordinated Claimant.
In the event of any violation of any provisions of this section by any Subordinated Claimant, the Senior Lenders may in the name of the Subordinated Claimants, or in their own name thereafter amend, modify or rescind any such prior act taken or vote issued, in violation of this Agreement.
Each Subordinated Claimant waives any claim or defense such Subordinated Claimant may now or hereafter have arising out of the election by any Senior Lender in any Proceeding instituted under Chapter 11 of the Bankruptcy Code of any use of cash collateral, any borrowing or any grant of a security interest under Sections 363 and/or 364 of the Bankruptcy Code by the Company, the Management Co. or any Obligor, as debtor-in-possession.