Proceedings for Winding-Up of Borrower Sample Clauses
Proceedings for Winding-Up of Borrower. In any proceedings for the compulsory or voluntary winding-up, liquidation or dissolution of the Borrower (or any proceedings analogous thereto):
(i) the holder of Class A Indebtedness shall be entitled to receive payment in full of the Class A Indebtedness before the holders of Class B, C and D Indebtedness shall be entitled to receive any payment on account of the Class B, C or D Indebtedness or any part thereof; and
(ii) the holders of Class B, C and D Indebtedness agree that they will prove for the full amount of their claims in respect of their respective Class B, C and D Indebtedness and that in accordance with the trust mentioned in Clause 2.01(a)(iii), any amounts payable to the holders of Class B, C and D Indebtedness in respect of the Class B, C and D Indebtedness shall be applied in payment or satisfaction of the Class A Indebtedness until the whole of the Class A Indebtedness shall have been certified by the holder of Class A Indebtedness as having been discharged and the remaining balance (if any) may be applied towards payment of the Class B, C and D Indebtedness in accordance with the provisions of this Deed.
Proceedings for Winding-Up of Borrower. In any proceedings for the compulsory or voluntary winding-up, liquidation or dissolution of the Borrower (or any proceedings analogous thereto):
(a) the Facility Agent and the Lenders shall be entitled to receive payment in full of the Secured Indebtedness before the Subordinated Lenders shall be entitled to receive any payment on account of the Subordinated Indebtedness or any part thereof;
(b) the Subordinated Lenders agree that they will prove for the full amount of their claims in respect of the Subordinated Indebtedness and that in accordance with the trust mentioned in Clause 3.01(c), any amounts payable to the Subordinated Lenders in respect of the Subordinated Indebtedness shall be applied in payment or satisfaction of the Secured Indebtedness until the whole of the Secured Indebtedness shall have been certified by the Facility Agent as having been discharged and the remaining balance (if any) may be applied towards payment of the amounts owing to the Subordinated Lenders in respect of the Subordinated Indebtedness, upon such terms as the Subordinated Lenders shall have agreed among themselves.