Examples of Subordination Terms in a sentence
The undersigned Lender, with the Revolving Credit Commitment set forth herein, hereby enters into the foregoing First Amendment to Credit Agreement and Consent to Subordination Terms dated March 3, 1997.
In the event a Subordinated Creditor shall fail to comply with this section, the subordination effected hereby shall survive any sale, assignment, disposition or other transfer of all or any portion of the Subordinated Indebtedness held by such Subordinated Creditor, and the terms of these Agreed Subordination Terms shall be binding upon the successors and assigns of such Subordinated Creditor, as provided in Section 6 below.
In the event of any conflict between any term, covenant or condition of these Agreed Subordination Terms and any term, covenant or condition of any of the Subordinated Indebtedness Documents, the provisions of these Agreed Subordination Terms shall control and govern.
These Agreed Subordination Terms shall inure to the benefit of the successors and assigns of the Senior Creditors and, except as provided in Section 2.5, shall be binding upon the successors and assigns of the Subordinated Creditors and the Obligors.
The Subordinated Creditor shall not exercise any rights which it may acquire by way of subrogation or contribution under this Subordinated Promissory Note, as a result of any payment made hereunder or otherwise, until the Subordination Terms (as defined in Section 7 below) of the Subordinated Promissory Note have ceased to be effective in accordance with Section 7.1(a).