ASSIGNMENT AND SUBORDINATION. Any Inter-company Indebtedness shall be unsecured and shall be (i) assigned to the Security Agent pursuant to an Inter-company Indebtedness Assignment and (ii) subordinated to the Loan on terms acceptable to the Agent.
Appears in 4 contracts
Sources: Secured Loan Agreement (TORM PLC), Fourth Supplemental Agreement to Secured Loan Agreement (TORM PLC), Fourth Supplemental Agreement to Secured Loan Agreement (TORM PLC)