Junior Debt. (a) It is the sole legal and beneficial owner of the Junior Debt and of the benefits of the Junior Finance Documents free from any Security Interest, option or subordination in favour of any person other than the Finance Parties; and (b) the Junior Debt is not subject to any set-off, counterclaim or other defence.
Appears in 1 contract
Sources: Term and Revolving Credit Facility Agreement (Kellwood Co)
Junior Debt. (a) It is the sole legal and beneficial owner of the Junior Debt and of the benefits of the Junior Finance Documents to which it is a party free from any Security Interest, option or subordination in favour of any person other than the Finance Parties; and
(b) the The Junior Debt is not subject to any set-off, counterclaim or other defence.
Appears in 1 contract