Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 6 contracts
Samples: Credit Agreement (5.11 Abr Corp.), Credit Agreement (Fox Factory Holding Corp), Credit Agreement (Atlas Industries Holdings LLC)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effecteffect other than as a result of any payment of such Subordinated Debt permitted hereunder, or any Person (including the holder of any applicable Non-Senior Debt) Loan Party shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 4 contracts
Samples: Credit Agreement (Aralez Pharmaceuticals Inc.), Credit Agreement (Aralez Pharmaceuticals Inc.), Credit Agreement (Aralez Pharmaceuticals Inc.)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, or any Subordinated Debt and any subordination provision in any intercreditor agreement or subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior Debt, relation thereto shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Debt) Loan Party shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 4 contracts
Samples: Credit Agreement (Acer Therapeutics Inc.), Credit Agreement (Acer Therapeutics Inc.), Credit Agreement (Acer Therapeutics Inc.)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Note Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 3 contracts
Samples: Note Purchase Agreement (CNL Strategic Capital, LLC), Note Purchase Agreement (CNL Strategic Capital, LLC), Note Purchase Agreement (CNL Strategic Capital, LLC)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effecteffect (other than pursuant to the terms thereof or solely as a result of action taken by the Administrative Agent or the Required Lenders), or any Person (including the holder of any applicable Non-Senior Debt) Loan Party shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 2 contracts
Samples: Credit Agreement (SP Plus Corp), Credit Agreement (SP Plus Corp)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Party Borrower of any Non-Senior Subordinated Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 2 contracts
Samples: Credit Agreement (Compass Diversified Holdings), Assignment Agreement (Compass Group Diversified Holdings LLC)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior any Subordinated Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior DebtSubordinated Debt shall, shall in any such case, cease to be in full force and effect, ; or any Person (including Loan Party or Subsidiary, any subordinating party or any Governmental Authority having jurisdiction over any of them or over the holder of any applicable Non-Senior Debt) Administrative Agent and/or the Lenders shall contest in any manner judicial or administrative proceeding the validity, binding nature or enforceability of any such provision.provision or agreement; or
Appears in 2 contracts
Samples: Credit Agreement (Kid Brands, Inc), Credit Agreement (Kid Brands, Inc)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Credit Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.;
Appears in 2 contracts
Samples: Guaranty Agreement (Drilling Tools International Corp), Guaranty Agreement (ROC Energy Acquisition Corp.)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Subordinated Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 2 contracts
Samples: Credit Agreement (American Coin Merchandising Inc), Assignment Agreement (American Coin Merchandising Inc)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effecteffect (other than in accordance with its terms), or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 2 contracts
Samples: Credit Agreement (Performant Financial Corp), Credit Agreement (Performant Financial Corp)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Subordinated Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effecteffect or cease to be enforceable against any holder of Subordinated Debt by Agent and the Lenders, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 1 contract
Samples: Credit Agreement (Dwyer Group Inc)
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any Loan Party of any Non-Non- Senior Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 1 contract
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Party of any Non-Senior Debt, Subordinated Debt shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 1 contract
Invalidity of Subordination Provisions. Any subordination provision in any document or instrument governing Non-Senior Debt, Subordinated Debt or any subordination provision in any subordination agreement that relates to any Non-Senior Debt Subordinated Debt, or any subordination provision in any guaranty by any Loan Party of any Non-Senior Subordinated Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Subordinated Debt) shall contest in any manner the validity, binding nature or enforceability of any such provision.
Appears in 1 contract
