Common use of Limitation on Acceleration Clause in Contracts

Limitation on Acceleration. No Holder of Subordinated Indebtedness shall be entitled to accelerate the maturity of the Subordinated Indebtedness, exercise any remedies or commence any action or proceeding to recover any amounts due or to become due with respect to Subordinated Indebtedness unless and until such time as the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminated.

Appears in 7 contracts

Samples: Subordination Agreement (Integrated Security Systems Inc), Subordination Agreement (Integrated Security Systems Inc), Subordination Agreement (Integrated Security Systems Inc)

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Limitation on Acceleration. No Holder of Subordinated Indebtedness shall be entitled to accelerate the maturity of the Subordinated Indebtedness, exercise any remedies or commence any action or proceeding to recover any amounts due or to become due with respect to Subordinated Indebtedness unless and until such time as the Briar Obligations Senior Indebtedness shall have been paid in full in cash and the Briar Agreements Security Agreement shall have been irrevocably terminated.

Appears in 1 contract

Samples: Subordination Agreement (Hesperia Holding Inc)

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