Deferred and Subordinated Clause Samples

Deferred and Subordinated. Until the Maturity Date, the repayment of the Principal Amount shall be deferred and subordinated to any amount, whether secured or unsecured, due by the Corporation to all creditors of the Corporation, and will only be senior to the distribution of the Corporation’s assets to its shareholders upon the Corporation’s insolvency or liquidation, dissolution or winding-up, voluntary or involuntary.