Subordinated Credit Agreement. An “Event of Default” under the Subordinated Credit Agreement shall have occurred.
Subordinated Credit Agreement. Notwithstanding anything in this Agreement to the contrary, the Company and its Subsidiaries may enter into the Subordinated Credit Agreement, and MSG and its Affiliates may exercise any remedies thereunder or any remedies they (or any of them) have as creditors under applicable law. Without limitation of the foregoing, in the event the lender(s) under the Subordinated Credit Agreement foreclose on any equity interests pledged to them, then notwithstanding anything in this Agreement to the contrary, (a) they (or any of them) shall be entitled to exercise all rights with respect thereto without regard to anything in this Agreement to the contrary, and (b) in no event shall any foreclosure or other Transfer of Interests to them or for their benefit be prohibited hereunder.”
Subordinated Credit Agreement. The Borrower represents and warrants that the Credit Agreement dated as of October 31, 1996, between the Borrower and Bank of America Illinois has been terminated and is no longer in effect.
Subordinated Credit Agreement. The obligations of Seagate ----------------------------- Software and Seagate Peripherals under the Subordinated Credit Agreement (the "Subordinated Credit Agreement"), dated January 5, 1994, among SSSM, as Borrower, Seagate Software, as Guarantor and Seagate Peripherals, as Lender, shall have been terminated as of the Closing.
Subordinated Credit Agreement. The Subordinated Credit Agreement shall be amended in form and substance satisfactory to the Administrative Agent so that the Leverage Ratio covenant contained in Section 7.03 of the Subordinated Credit Agreement shall be amended to provide for a maximum Leverage Ratio on every date which is at least .50 (.25 for the period from the Status Reset Date during the Fiscal Quarter commencing January 1, 2004 to the day immediately prior to the Status Reset Date during the Fiscal Quarter commencing April 1, 2004) greater than the maximum Leverage Ratio for each such date required under the Credit Agreement pursuant to this Amendment.
Subordinated Credit Agreement. This Agreement, duly executed and delivered by the Borrower and, for the account of Lender requesting the same, a Subordinated Note or Subordinated Notes of the Borrower conforming to the requirements set forth herein;
Subordinated Credit Agreement. The Subordinated Credit Agreement shall be amended in a manner substantially similar to the amendments to the Original Credit Agreement set forth in this Amendment and otherwise in form and substance satisfactory to the Administrative Agent. If this Amendment does not become effective prior to the Termination Date, this Amendment shall be null and void; provided however that the Borrower shall still be obligated to reimburse Société Generale for costs and expenses incurred in connection with this Amendment.
Subordinated Credit Agreement. Hakkasan Parent acknowledges that the Company and its Subsidiaries have entered into the Subordinated Credit Agreement, and MSGE and its Affiliates may exercise any remedies thereunder or any remedies they (or any of them) may have as creditors under applicable law if and to the extent the lenders (or agent(s)) under a Company Loan Agreement (other than the Subordinated Credit Agreement or any other Company Loan Agreement under which TAO or any of its Affiliates is a lender) or any successor third party lenders (or agent(s)) to TAO, the Company or any of its Subsidiaries exercise any of their remedies under the Company Loan Agreement or under applicable law (a “Remedy Exercise”). In the event that, following a Remedy Exercise, the lender(s) under the Subordinated Credit Agreement foreclose on any equity interests pledged to them, then notwithstanding anything in this Agreement to the contrary (a) MSGE and its Affiliates (or any of them) shall be entitled to exercise all rights with respect thereto, and (b) in no event shall any foreclosure or other Transfer of Interests to them or for their benefit be prohibited hereunder; provided, however, that for so long as Hakkasan Parent is a Qualified Member, except in the event of a Remedy Exercise or to the extent consented to by Hakkasan Parent, (i) in the event the Company or any of its Subsidiaries are unable to pay in cash any interest payment due and payable in cash under the Subordinated Credit Agreement (after giving effect to any grace period thereunder), MSGE and its Affiliates (or any of them) shall not exercise any remedies under the Subordinated Credit Agreement in respect of such failure (without prejudice or effect as to any future Credit Agreement Default) for so long as and to the extent such interest is instead added to, and becomes a part of, the outstanding principal amount under the Subordinated Credit Agreement on such due date and (ii) MSGE and its Affiliates (or any of them) shall not exercise any remedies under the Subordinated Credit Agreement with respect to any other Credit Agreement Default under the Subordinated Credit Agreement (other than failure to pay principal and interest in cash under the Subordinated Credit Agreement when due and payable thereunder at maturity).
Subordinated Credit Agreement. Seller and X.X. Xxxxx International Co. (“Borrower”) are parties to that certain Subordinated Credit Agreement, dated as of January 14, 2008, as amended from time to time (the “Credit Agreement”). In the event that Borrower should be in Default under its covenant in Section 10.01 (Total Leverage Ratio) and/or Section 10.03 (Fixed Charge Coverage Ratio) of the Credit Agreement, Seller will agree to enter into a agreement with Borrower to amend such covenants under the Credit Agreement on terms no less favorable to Seller, including, without limitation, in respect of increased rates of interest and applicable fees, than the terms on which the lenders under the MS Facility may agree (for clarity, giving effect to any variations in such rates or other terms over equivalent time periods, as may be reflected in Borrower’s agreement with such lenders in respect of such terms), to amend the MS Facility in relation to a default or prospective default under its financial covenants therein, provided that such terms agreed to with the lenders under the MS Facility are reasonably consistent with market practice for similarly situated borrowers under similar circumstances. Such amendment shall otherwise be in customary form and reasonably acceptable to Seller.
