Subordinated Default means a default in the payment of the Subordinated Indebtedness, or performance of any term, covenant or condition contained in the Subordinated Indebtedness Documents or the occurrence of any event or condition, which default, event or condition permits any Subordinated Creditor to accelerate or demand payment of all or any portion of the Subordinated Indebtedness.

Subordinated Default. NOTICE shall mean a written notice to Agent pursuant to which Agent is notified of the existence of a Subordinated Default, which notice incorporates a reasonably detailed description of such Subordinated Default. SUBORDINATED INDEBTEDNESS shall mean all of the obligations of Obligors (including Subordinated Obligor) to Subordinated Creditors pursuant to or evidenced by the Subordinated Note and the other Subordinated Indebtedness Documents. SUBORDINATED INDEBTEDNESS DOCUMENTS shall mean the Subordinated Note and all other documents and instruments executed in connection with the Subordinated Note or otherwise evidencing or pertaining to any portion of the Subordinated Indebtedness, as amended, supplemented, restated or otherwise modified from time to time as permitted hereunder.

Subordinated Default means a default in the payment of the Subordinated Indebtedness, or performance of any term, covenant or condition contained in the Subordinated Notes or the occurrence of any event or condition, which default, event or condition permits a Subordinated Creditor to accelerate or demand payment of all or any portion of the Subordinated Indebtedness.

Examples of Subordinated Default in a sentence

Subordinated Creditors and Borrower each shall provide Agent with a Subordinated Default Notice upon the occurrence of each Subordinated Default, and Subordinated Creditors shall notify Agent in the event such Subordinated Default is cured or waived.
The failure of any Loan Party to make any payment with respect to the Subordinated Debt by reason of the operation of Section 2.3 shall not be construed as preventing the occurrence of a Subordinated Default under the applicable Subordinated Debt Documents.
The failure of any Obligor to make any payment to any Subordinated Creditor due to the operation of this Agreement shall not be construed as prohibiting the occurrence of a Subordinated Default.
The Subordinated Creditor shall provide the Senior Lender with notice of any Subordinated Default relating to any Subordinated Indebtedness simultaneously with giving notice to the Company.
The Subordinated Creditor shall provide the Senior Creditor Representative with notice of any Subordinated Default simultaneously with giving notice of such Subordinated Default to the Borrower.

More Definitions of Subordinated Default

Subordinated Default means any Subordinated Payment Default or Subordinated Covenant Default.

Subordinated Default means any “Event of Default” as that term is defined in the Subordinated Loan Documents.

Subordinated Default means any “default” or “event of default” under any Subordinated Loan Document.

Subordinated Default means an event of default (howsoever denominated) under any of the Subordinated Finance Documents.

Subordinated Default. An "Event of Default" as defined in the Subordinated Agreement or the Subordinated Notes, or a default or event of default under any of the other Subordinated Documents.

Subordinated Default. NOTICE shall mean a written notice to Agent pursuant to which Agent is notified of the existence of a Subordinated Default, which notice incorporates a reasonably detailed description of such Subordinated Default. SUBORDINATED INDEBTEDNESS shall mean all of the obligations of Obligors (including Subordinated Obligor) to Subordinated Creditors evidenced by the Subordinated Purchase Agreement, the Subordinated Debentures and all other amounts now or hereafter owed by Obligors to Subordinated Creditors pursuant to the Subordinated Indebtedness Documents. SUBORDINATED INDEBTEDNESS DOCUMENTS shall mean the Subordinated Debenture(s), Subordinated Purchase Agreement, and Warrants in favor of the Subordinated Creditors, in each case, dated April 25, 2006, and all other documents and instruments evidencing or pertaining to any portion of the Subordinated Indebtedness, as amended, supplemented, restated or otherwise modified from time to time as permitted hereunder.

Subordinated Default means an Event of Default arising under, and as defined in, any Subordinated Agreement.