Examples of Subordinated Parties in a sentence
Pledge of the Program Assets To secure the payment of the principal and Redemption Price of and Sinking Fund Payments and interest on the Bonds and the payment of Parity Obligation Instruments and Subordinated Contract Obligations, the Agency does hereby pledge to the Trustee, for the benefit of the Bondholders, the Parties and the Subordinated Parties, the Program Assets.
Notwithstanding any term of this Agreement postponing, subordinating or preventing the payment of all or any part of the Subordinated Debt, the relevant Subordinated Debt shall, as between the Intercompany Debtors and the Subordinated Parties, be deemed to remain owing or due and payable (and interest, default interest or indemnity payments shall continue to accrue) in accordance with the relevant Documents.
Each Agent, the Hedge Counterparties and the Subordinated Parties will on written request by any of the others or the Security Agent from time to time notify the others and the Security Agent in writing of details of the amount of its outstanding Debt.
The Subordination Agreement is in respect of loans made by the Subordinated Parties to the investee company, if any.
Notwithstanding the foregoing, the Subordinated Parties may raise objections to any Disposition of Collateral that could be raised in an Insolvency Proceeding by unsecured creditors generally so long as not otherwise inconsistent with the terms of this Security Agreement.