Common use of Modification or Sale of the Subordinated Debt Clause in Contracts

Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least 10 days prior to the date of any of such intended disposition.

Appears in 4 contracts

Samples: Subordination Agreement (Chart House Enterprises Inc), Subordination Agreement (Chart House Enterprises Inc), Subordination Agreement (Chart House Enterprises Inc)

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Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor will not, at any time while this Intercreditor Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated DocumentsNotes; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least 10 ten (10) days prior to the date of any of such intended disposition.

Appears in 1 contract

Samples: Intercreditor Agreement (Gander Mountain Co)

Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least 10 days prior to the date of any of such intended disposition.

Appears in 1 contract

Samples: Revolving Credit Agreement (Casella Waste Systems Inc)

Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Note Documents; nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, reasonably satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of the Subordinating Creditor hereunder. In the case of any such disposition by the Subordinating Creditor, the Subordinating Creditor will notify the Agent at least 10 five (5) days prior to the date of any of such intended disposition.

Appears in 1 contract

Samples: Stock Purchase and Merger Agreement (American Skiing Co /Me)

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Modification or Sale of the Subordinated Debt. The Subordinating --------------------------------------------- Creditor Lender will not, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Debt Documents; nor will the Subordinating Creditor Lender sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of the Subordinating Creditor Lender hereunder. In the case of any such disposition by the Subordinating CreditorLender, the Subordinating Creditor Lender will notify the Agent at least 10 ten (10) days prior to the date of any of such intended disposition.

Appears in 1 contract

Samples: Loan and Security Agreement (Casella Waste Systems Inc)

Modification or Sale of the Subordinated Debt. The No Subordinating --------------------------------------------- Creditor will notwill, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated DocumentsDocuments except as expressly permitted by the Credit Agreement; nor will the any Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt to any person other than a person who agrees in a writing, satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to bound by all of the obligations of the a Subordinating Creditor hereunder. In the case of any such disposition by the any Subordinating Creditor, the such Subordinating Creditor will notify the Agent at least 10 ten (10) days prior to the date of any of such intended disposition.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Stride & Associates Inc)

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