Subordinated Holders definition
Examples of Subordinated Holders in a sentence
This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and each of the Senior First Priority Secured Parties and Subordinated Holders and their respective successors and assigns, and nothing herein is intended, or shall be construed to give, any other Person any right, remedy or claim under, to or in respect of this Agreement or any Common Collateral.
In case LICENSEE will make media advertising, a royalty rate of 5% will be calculated on the gross media budget for above-the-line advertising, including but not limited to television, radio, internet, cinema, outdoor and bus shelters advertising.
Actions undertaken by the Subordinated Holder Representative pursuant to this Agreement on behalf of the Subordinated Holders shall be undertaken at the direction or with the consent of the requisite number or percentage of Subordinated Holders to the extent required by, and in accordance with the terms of, the Subordinated Debenture Documents.
The Subordinated Holder Representative, on behalf of itself and the Subordinated Holders, agrees that except as expressly set forth in this Section none of them shall seek or accept adequate protection without the prior written consent of the Senior Agent.
The Subordinated Holders, by their purchase of any Subordinated Debentures under the Subordinated Debenture Documents and notwithstanding any provision of any Subordinated Debenture Document to the contrary, hereby authorize the Subordinated Holder Representative to comply with its obligations under this Section 3.4.
After the Senior Indebtedness Payment Date and until the Subordinated Indebtedness is paid in full, the Subordinated Holders shall be subrogated to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness to the extent that distributions otherwise payable to the Subordinated Holders have been applied to payment of Senior Indebtedness.
The Subordinated Holder Representative and the other Subordinated Holders agree that none of them will seek relief from the automatic stay or from any other stay in any Insolvency Proceeding in respect of any Common Collateral, without the prior written consent of the Senior Agent.
Nothing in this Agreement shall impair, as between Borrower or any Loan Party and the Subordinated Holders, the obligations of Borrower and the Loan Parties to pay principal of and interest on the Subordinated Indebtedness in accordance with their terms.
This is a continuing agreement and the Senior First Priority Secured Parties and the Subordinated Holders may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, Borrower or any other Loan Party on the faith hereof.
If the filing of an Insolvency Proceeding prevents the Senior Agent from obtaining a Lien (or avoids any such Lien), then the Subordinated Holders will exercise their rights in respect of such Lien at the direction of the Senior Agent in a manner consistent with this Agreement for the benefit of the Senior Indebtedness.