Common use of Permitted Subordinated Indebtedness Clause in Contracts

Permitted Subordinated Indebtedness. Notwithstanding the terms and conditions of the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (Xxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Guarantee), the Borrower is permitted to repay and reissue, on a revolving basis, from time to time Permitted Subordinated Indebtedness in an amount not exceeding $2,000,000 at any one time, provided that in connection with any such repayment, new Permitted Subordinated Indebtedness is incurred by the Borrower within ninety (90) days of such repayment in an amount equal to the amount of such repayment and in respect of which the applicable holder of such new Permitted Subordinated Indebtedness provides a written acknowledgement acceptable to the Administrative Agent that such Indebtedness is “Subordinated Debt” as defined in, and subject to, the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (Xxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Guarantee).

Permitted Subordinated Indebtedness. Notwithstanding the terms and conditions of the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (XxxxxxxTxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Txxxxxx Guarantee), the Borrower is permitted to repay and reissue, on a revolving basis, from time to time Permitted Subordinated Indebtedness in an amount not exceeding $2,000,000 at any one time, provided that in connection with any such repayment, new Permitted Subordinated Indebtedness is incurred by the Borrower within ninety (90) days of such repayment in an amount equal to the amount of such repayment and in respect of which the applicable holder of such new Permitted Subordinated Indebtedness provides a written acknowledgement acceptable to the Administrative Agent that such Indebtedness is “Subordinated Debt” as defined in, and subject to, the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (XxxxxxxTxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Txxxxxx Guarantee).

Permitted Subordinated Indebtedness. Notwithstanding the terms and conditions of the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (XxxxxxxTxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Txxxxxx Guarantee), the Borrower is permitted to repay and reissue, on a revolving basis, from time to time Permitted Subordinated Indebtedness in an amount not exceeding $2,000,000 at any one time, provided that in connection with any such repayment, new Permitted Subordinated Indebtedness is incurred by the Borrower within ninety (90) days of such repayment in an amount equal to the amount of such repayment and in respect of which the applicable holder of such new Permitted Subordinated Indebtedness provides a written acknowledgement acceptable to the Administrative Agent that such Indebtedness is “Subordinated Debt” as defined in, and subject to, the Subordinated Lender Intercreditor Agreement (Indenture), the Subordinated Lender Intercreditor Agreement (Mogo), the Subordinated Lender Intercreditor Agreement (XxxxxxxTxxxxxx) or the Subordinated Lender Intercreditor Agreement (Xxxxxxx Txxxxxx Guarantee).