EXECUTION OF SUBORDINATION AGREEMENT Sample Clauses

EXECUTION OF SUBORDINATION AGREEMENT. By accepting this Note, the Holder agrees that, upon the request of any holder of Senior Debt, it will execute and deliver a subordination agreement for the benefit of such holder of Senior Debt (in form reasonably acceptable to the Holder and its counsel) reflecting the terms of this SECTION 7; provided, however that the foregoing shall not require the Holder to execute or deliver any agreement which provides for additional terms of subordination or otherwise adversely modifies (whether by change, addition or deletion) the terms hereof.
Sample 1Sample 2
AutoNDA by SimpleDocs
EXECUTION OF SUBORDINATION AGREEMENT. Subject to Section 6.3.2, even though this Agreement is subordinate to the lien of each Mortgage, on request at any time from time to time during the Operating Term of this Agreement, Manager shall execute, acknowledge and deliver to Owner or its successor-in-interest or any Mortgagee a commercially reasonable subordination agreement (a “Subordination Agreement”) that subordinates this Agreement, except for Manager’s rights with respect to the Unamortized Key Money, to the lien of the Mortgage held by such Mortgagee, which includes the protections in favor of Manager as specifically set forth herein, which may include a provision which provides that the Mortgagee shall not be liable in any respect from its own funds or otherwise for any defaults by Owner or any amounts owed to Manager prior to the date of foreclosure and which includes a provision which permits the Mortgagee to cure any Event of Default hereunder. Manager shall not be required to accept or agree to any proposed Subordination Agreement if it effects a modification of this Agreement or otherwise impairs Manager’s rights or materially increase its burdens or obligations hereunder (other than by the subordination of this Agreement to the lien of the Mortgage). Manager’s expenses associated with reviewing and negotiating a Subordination Agreement shall be deemed Operating Expenses.
Sample 1
EXECUTION OF SUBORDINATION AGREEMENT. Even though this Agreement is subordinate to the lien of each Mortgage, on request at any time from time to time during the Operating Term of this Agreement, Manager shall execute, acknowledge and deliver to Corporation or its successor- in-interest or any Mortgagee a commercially reasonable subordination agreement (a "Subordination Agreement") that subordinates this Agreement to the lien of the Mortgage held by such Mortgagee, which includes the protections in favor of Manager as specifically set forth herein, which may include a provision which provides that the Mortgagee shall not be liable in any respect from its own funds or otherwise for any defaults by Corporation or any amounts owed to Manager prior to the date of foreclosure and which includes a provision which permits the Mortgagee to cure any Event of Default hereunder. Manager shall not be required to accept or agree to any proposed Subordination Agreement if it effects a modification of this Agreement or otherwise impairs Manager's rights or materially increase its burdens or obligations hereunder (other than by the subordination of this Agreement to the lien of the Mortgage). Manager hereby acknowledges and agrees to the terms of the Hotel Assignment Agreement as being an acceptable Subordination Agreement.
Sample 1
EXECUTION OF SUBORDINATION AGREEMENT. Each Investor agrees that, upon the request of any holder of Senior Debt, the Investor will execute and deliver a subordination agreement for the benefit of such holder of Senior Debt (in form reasonably acceptable to the Investor and the Investor's counsel); provided, however that the foregoing shall not require the Investor to execute or deliver any agreement which provides for additional terms of subordination or otherwise adversely modifies (whether by change, addition or deletion) the terms of the security interest granted hereunder.
Sample 1
EXECUTION OF SUBORDINATION AGREEMENT. On or prior to date of the closing of the Senior Loan, the Lender agrees to execute a subordination agreement in form and scope reasonably acceptable to the Lender, which shall provide that the Lender's rights and interests hereunder shall be subordinated to those granted to CII under the Senior Loan Documents. In the event that any of the rights of the Lender arising under this Agreement or any of the other Loan Documents shall be inconsistent with rights of CII under the Senior Loan Documents, the rights of CII shall take priority over those of the Lender.
Sample 1
EXECUTION OF SUBORDINATION AGREEMENT. Borrower shall have executed and delivered to Lender, and shall have caused the other parties thereto (except Lender) to have executed and delivered, the Subordination Agreement.
Sample 1
EXECUTION OF SUBORDINATION AGREEMENT. On or prior to date of the closing of the Senior Loan, the Secured Party shall execute a subordination agreement, in form and content reasonably satisfactory to the Secured Party, which shall provide that the Secured Party's rights and interests hereunder shall be subordinated to those granted to CII under the Senior Loan Documents. In the event that any of the rights of the Secured Party arising under this Security Agreement, the Loan Agreement, the Mortgage, the Mortgage Note or any other Loan Documents shall be inconsistent with the Senior Loan Documents or the agreements related thereto, the rights of CII under the Senior Loan Documents shall take priority.
Sample 1
AutoNDA by SimpleDocs

Related to EXECUTION OF SUBORDINATION AGREEMENT

  • Agreement of Subordination The Company covenants and agrees, and each holder of Notes issued hereunder by its acceptance thereof likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Four, and each Person holding any Note, whether upon original issue or upon registration of transfer, assignment or exchange thereof, accepts and agrees to be bound by such provisions. The payment of the principal of, premium, if any, and interest (including Liquidated Damages, if any) on all Notes (including, but not limited to, the redemption price with respect to the Notes called for redemption in accordance with Section 3.2 or submitted for redemption in accordance with Section 3.5, as the case may be, as provided in this Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred. No provision of this Article Four shall prevent the occurrence of any default or Event of Default hereunder.

  • Execution of Supplemental Agreements In executing, or accepting the additional agencies created by, any supplemental agreement permitted by this Article or the modifications thereby of the agencies created by this Agreement, the Agent shall be entitled to receive and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental agreement is authorized or permitted by this Agreement. The Agent may, but shall not be obligated to, enter into any such supplemental agreement which affects the Agent's own rights, duties or immunities under this Agreement or otherwise.

  • Intercompany Subordination Agreement The Administrative Agent shall have received the Intercompany Subordination Agreement, duly executed and delivered by each Loan Party.

  • Effect of Supplemental Agreements Upon the execution of any supplemental agreement under this Article, this Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes; and every Holder of Certificates theretofore or thereafter authenticated, executed on behalf of the Holders and delivered hereunder, shall be bound thereby.

  • Subordination Agreements Subordination Agreements with respect to all Subordinated Debt.

  • Relation to Subordination Provisions Interest Drawings under the Liquidity Facilities and withdrawals from the Cash Collateral Accounts, in each case, in respect of interest on the Certificates of any Class, will be distributed to the Trustee for such Class of Certificates, notwithstanding Sections 2.01(b) and 3.02.

  • Non-Subordination The Obligations are not subordinated in any way to any other obligations of Borrower or to the rights of any other Person.

  • Subordination Agreement Each of (i) the subordination of interest payments to the Noteholders of the Class B Notes to the payment of any First Priority Principal Payment to the Noteholders of the Class A Notes and (ii) the subordination of interest payments to the Noteholders of the Class C Notes to the payment of any Second Priority Principal Payment to the Noteholders of the Class A Notes and the Class B Notes under Section 8.2(c) is a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code.

Time is Money Join Law Insider Premium to draft better contracts faster.