Subordination of Intercompany Loans. Each Loan Party shall cause any intercompany Indebtedness, loans or advances owed by any Loan Party to any other Loan Party to be subordinated pursuant to the terms of the Intercompany Subordination Agreement.
Subordination of Intercompany Loans. From and after the Closing Date, each Borrower and each Guarantor shall cause any inter-company Indebtedness, loans or advances owed by any of them to one another or to any other of their Subsidiaries to be subordinated pursuant to the terms of the Intercompany Subordination Agreement.
Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of any Loan Party to any Subsidiary that is not a Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, be expressly subordinated to the Loans following a Default.
Subordination of Intercompany Loans. Until all Obligations shall have been indefeasibly paid in full:
(i) the Subordinated Claims shall be subordinated, to the extent and in the manner hereinafter set forth, to the prior payment of, and junior in right of payment to, any and all Obligations whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred or created (collectively, "SENIOR CLAIMS");
(b) without the consent of the Lease Indenture Trustee, the Owner Lessor shall not, directly or indirectly, make any payment of principal or interest on account of, or transfer any collateral for any part of, any Subordinated Claims; provided, however, that the Owner Lessor may (and upon direction from the Owner Participant shall) make payments (including prepayments) of interest and principal on account of the Subordinated Claims to the extent of proceeds received from payments of Rent permitted to be made pursuant to the terms of Section 2.1(b) of the Lease Subordination Agreement and clause third of Section 3.1 of the Lease Indenture or proceeds from common equity received from the Owner Participant;
(c) without the consent of the Lease Indenture Trustee, the Subordinated Party shall not demand, xxx for or accept any payment or collateral in respect of any Subordinated Claims, or take any other action to enforce their rights or exercise any remedies in respect of any Subordinated Claims (whether upon the occurrence or during the continuation of an event of default under any promissory notes evidencing Subordinated Claims (collectively, "SUBORDINATED NOTES") or otherwise) or cancel, set off or otherwise discharge any part of any Subordinated Claims; and
(d) without the consent of the Lease Indenture Trustee, neither the Owner Lessor nor the Subordinated Party shall otherwise take any action prejudicial to or inconsistent with the priority position of the Senior Claims over the Subordinated Claims created by this Section 2.1.
Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of Holdco, EnergySolutions or any Subsidiary to any Non-U.S. Subsidiary shall be subordinated to the Loans.
Subordination of Intercompany Loans. The Borrower shall cause any intercompany Indebtedness, loans or advances owed by the Borrower or any of its Subsidiaries to the Borrower or any of its Subsidiaries to be subordinated pursuant to the terms of the Intercompany Subordination Agreement.
Subordination of Intercompany Loans. All loans or fees owed to any Guarantor or any other Consolidated Company, or any Affiliate of any thereof, shall, at all times, be subordinate to the Loans and the Borrower shall cause its Subsidiaries and/or Affiliates from time to time to execute and deliver to the Administrative Agent and the Required Lenders subordination agreements in form and content satisfactory to the Administrative Agent and the Required Lenders.
Subordination of Intercompany Loans. Each Loan Party covenants and agrees that (A) any existing and future debt obligation of the Parent Guarantor, the Borrower or any Subsidiary Loan Party to any Non-U.S. Subsidiary shall be subordinated to the Loans to at least the same extent as the Subordinated Notes (for the avoidance of doubt, prepayments are not prohibited unless and until and for so long as a Default exists under Section 7.01(a) or otherwise prohibited by such subordination provisions) and (B) no Indebtedness of any Non-U.S. Subsidiary to any Loan Party shall be subordinated to any other Indebtedness of such Subsidiary.
Subordination of Intercompany Loans. Landlord's Waiver.................................................................................58 ------ -----------------
Subordination of Intercompany Loans. The Borrower and each Guarantor shall cause any inter-company Indebtedness, loans or advances owed by any of them to one another or to any other of their Subsidiaries to be subordinated pursuant to the terms of the Intercompany Subordination Agreement.
