Common use of Continuing Subordination Clause in Contracts

Continuing Subordination. The subordination effected by these provisions is a continuing subordination and may not be modified or terminated by Creditor until payment in full in cash of the Senior Obligations. At any time and from time to time, without consent of or notice to Creditor, and without impairing or affecting the obligations of Creditor hereunder: (i) the time for Borrower's performance of, or compliance with any agreement relating to Senior Obligations may be modified or extended or such performance may be waived; (ii) Senior Creditor may exercise or refrain from exercising any rights under any agreement relating to the Senior Obligations; (iii) so long as the aggregate principal amount of the Senior Obligations is not increased, any agreement relating to the Senior Obligations may be revised, amended or otherwise modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of Borrower, Senior Creditor or any guarantor thereunder; (iv) payment of Senior Obligations or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Obligations may be renewed in whole or in part; (v) any Person liable in any manner for payment of the Senior Obligations may be released by Senior Creditor; (vi) so long as the aggregate principal amount of the Senior Obligations is not increased, Senior Creditor may make loans or otherwise extend credit to Borrower whether or not any default or event of default exists with respect to such Senior Obligations; and (vii) Senior Creditor may take and/or release any Lien at any time on any collateral now or hereafter securing the Senior Obligations and take or fail to take any action to perfect any Lien at any time granted therefor, and take or fail to take any action to enforce such Liens. Notwithstanding the occurrence of any of the foregoing, these subordination provisions shall remain in full force and effect with respect to the Senior Obligations, as the same may have been modified, extended, renewed or refunded. Creditor has established adequate, independent means of obtaining from Borrower on a continuing basis financial and other information pertaining to Borrower's financial condition. Creditor has received copies of the Senior Credit Documents.

Continuing Subordination. The subordination effected by these provisions is a continuing subordination and may not be modified or terminated by Creditor Lender until payment in full in cash of the Senior ObligationsIndebtedness. At any time and from time to time, without consent of or notice to Creditor, Lender or any other holder of Notes issued under the Note Purchase Agreement and without impairing or affecting the obligations of Creditor Lender hereunder: (i) the time for Borrower's performance of, or compliance with any agreement relating to Senior Obligations Indebtedness may be modified or extended or such performance may be waived; (ii) a holder of Senior Creditor Indebtedness may exercise or refrain from exercising any rights under any agreement relating to the Senior ObligationsIndebtedness; (iii) so long as the aggregate principal amount of the Senior Obligations is not increased, any agreement relating to the Senior Obligations Indebtedness may be revised, amended or otherwise 103 32 modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of Borrower, any holder of Senior Creditor Indebtedness or any guarantor thereunder; (iv) payment of Senior Obligations Indebtedness or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Obligations Indebtedness may be renewed in whole or in part; (v) any Person liable in any manner for payment of the Senior Obligations Indebtedness may be released by a holder of Senior CreditorIndebtedness; (vi) so long as the aggregate principal amount a holder of the Senior Obligations is not increased, Senior Creditor Indebtedness may make loans or otherwise extend credit to Borrower whether or not any default or event of default exists with respect to such Senior ObligationsIndebtedness; and (vii) a holder of Senior Creditor Indebtedness may take and/or release any Lien at any time on any collateral now or hereafter securing the Senior Obligations Indebtedness and take or fail to take any action to perfect any Lien at any time granted therefor, and take or fail to take any action to enforce such Liens. Notwithstanding the occurrence of any of the foregoing, these subordination provisions shall remain in full force and effect with respect to the Senior ObligationsIndebtedness, as the same may have been modified, extended, renewed or refunded. Creditor Lender has established adequate, independent means of obtaining from Borrower on a continuing basis financial and other information pertaining to Borrower's financial condition. Creditor has received copies of the Senior Credit Documents.

Continuing Subordination. The subordination effected by these provisions is a continuing subordination and may not be modified or terminated by Creditor the Holder until payment in full in cash of the Senior ObligationsIndebtedness. At any time and from time to time, without the consent of or notice to Creditor, the Holder and without impairing or affecting the obligations of Creditor the Holder hereunder: (i) the time for Borrowerthe Company's performance of, or compliance with any agreement relating to Senior Obligations Indebtedness may be modified or extended or such performance may be waived; (ii) a holder of Senior Creditor Indebtedness may exercise or refrain from exercising any rights under any agreement relating to the Senior ObligationsIndebtedness; (iii) so long as the aggregate principal amount of the Senior Obligations is not increased, any agreement relating to the Senior Obligations Indebtedness may be revised, amended or otherwise modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of Borrowerthe Company, any holder of Senior Creditor Indebtedness or any guarantor thereunder; (iv) payment of Senior Obligations Indebtedness or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Obligations Indebtedness may be renewed in whole or in part; (v) any Person person liable in any manner for payment of the Senior Obligations Indebtedness may be released by a holder of Senior CreditorIndebtedness; (vi) so long as the aggregate principal amount a holder of the Senior Obligations is not increased, Senior Creditor Indebtedness may make loans or otherwise extend credit to Borrower the Company whether or not any default or event of default exists with respect to such Senior ObligationsIndebtedness; and (vii) a holder of Senior Creditor Indebtedness may take and/or release any Lien lien at any time on any collateral now or hereafter securing the Senior Obligations Indebtedness and take or fail to take any action to perfect any Lien lien at any time granted therefor, and take or fail to take any action to enforce such Liensliens. Notwithstanding the occurrence of any of the foregoing, these subordination provisions shall remain in full force and effect with respect to the Senior Obligations, as the same may have been modified, extended, renewed or refunded. Creditor has established adequate, independent means of obtaining from Borrower on a continuing basis financial and other information pertaining to Borrower's financial condition. Creditor has received copies of the Senior Credit DocumentsIndebtedness.

Continuing Subordination. The subordination effected by these provisions is a continuing subordination and may not be modified or terminated by Creditor Holder until payment in full in cash of the Senior ObligationsIndebtedness. At any time and from time to time, without consent of or notice to CreditorHolder or any other holder of Notes, and without impairing or affecting the obligations of Creditor Holder hereunder: ; (i) the time for BorrowerCompany's performance of, or compliance with any agreement relating to Senior Obligations Indebtedness may be modified or extended or such performance may be waived; (ii) a holder of Senior Creditor Indebtedness may exercise or refrain from exercising any rights under any agreement relating to the Senior ObligationsIndebtedness; (iii) so long as the aggregate principal amount of the Senior Obligations is not increased, any agreement relating to the Senior Obligations may Indebtedness bay be revised, amended or otherwise modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of BorrowerCompany, any holder of Senior Creditor Indebtedness or any guarantor thereunder; (iv) payment of Senior Obligations Indebtedness or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Obligations Indebtedness may be renewed in whole or in part; (v) any Person liable in any manner for payment of the Senior Obligations Indebtedness may be released by a holder of Senior CreditorIndebtedness; (vi) so long as the aggregate principal amount a holder of the Senior Obligations is not increased, Senior Creditor Indebtedness may make loans or otherwise extend credit to Borrower Company whether or not any default or event of default exists with respect to such Senior ObligationsIndebtedness; and (vii) a holder of Senior Creditor Indebtedness may take and/or an/or release any Lien at any time on any collateral now or hereafter securing the Senior Obligations Indebtedness and take or fail to take any action to perfect any Lien at any time granted therefor, and take or fail to take any action to enforce such Liens. Notwithstanding the occurrence of any of the foregoing, these subordination provisions shall remain in full force and effect with respect to the Senior ObligationsIndebtedness, as the same may have been modified, extended, renewed or refunded. Creditor Holder has established adequate, independent means of obtaining from Borrower Company on a continuing basis financial and other information pertaining to BorrowerCompany's financial condition. Creditor has received copies of the Senior Credit Documents.

Continuing Subordination. The subordination effected by these provisions is a continuing subordination and may not be modified or terminated by Creditor the Lender until payment in full in cash of the Senior ObligationsIndebtedness. At any time and from time to time, without consent of or notice to Creditor, the Lender and without impairing or affecting the obligations of Creditor hereunderthe Lender hereunder but subject to the terms of the definition of "Senior Indebtedness": (i) the time for Borrowerthe Company's performance of, or compliance with any agreement relating to Senior Obligations Indebtedness may be modified or extended or such performance may be waived; (ii) a holder of Senior Creditor Indebtedness may exercise or refrain from exercising any rights under any agreement relating to the Senior ObligationsIndebtedness; (iii) so long as the aggregate principal amount of the Senior Obligations is not increased, any agreement relating to the Senior Obligations Indebtedness may be revised, amended or otherwise modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of Borrowerthe Company, any holder of Senior Creditor Indebtedness or any guarantor thereunder; (iv) payment of Senior Obligations Indebtedness or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Obligations Indebtedness may be renewed in whole or in part; (v) any Person person liable in any manner for payment of the Senior Obligations Indebtedness may be released by a holder of Senior CreditorIndebtedness; (vi) so long as the aggregate principal amount a holder of the Senior Obligations is not increased, Senior Creditor Indebtedness may make loans or otherwise extend credit to Borrower the Company whether or not any default or event of default exists with respect to such Senior ObligationsIndebtedness; and (vii) a holder of Senior Creditor Indebtedness may take and/or release any Lien lien at any time on any collateral now or hereafter securing the Senior Obligations Indebtedness and take or fail to take any action to perfect any Lien lien at any time granted therefor, and take or fail to take any action to enforce such Liensliens. Notwithstanding the occurrence of any of the foregoing, these subordination provisions shall remain in full force and effect with respect to the Senior Obligations, as the same may have been modified, extended, renewed or refunded. Creditor has established adequate, independent means of obtaining from Borrower on a continuing basis financial and other information pertaining to Borrower's financial condition. Creditor has received copies of the Senior Credit DocumentsIndebtedness.