Common use of Subordinated Debt Voting Rights Clause in Contracts

Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the Subordinating Creditors shall vote with respect to any such plan or take any other action in any way so as to contest (i) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (ii) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iii) the Collateral Agent’s and Subordinating Creditors’ obligations and agreements set forth in this Agreement.

Appears in 2 contracts

Samples: Subordination Agreement (Wet Seal Inc), Bridge Subordination Agreement (Wet Seal Inc)

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Subordinated Debt Voting Rights. At any such meeting of ------------------------------- creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the -------- Subordinating Creditors Creditor shall not vote with respect to any such plan or take any other action in any way so as to contest (ia) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (iib) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iiic) the Collateral Agent’s and Subordinating Creditors’ Creditor's obligations and agreements set forth in this Agreement.

Appears in 2 contracts

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

Subordinated Debt Voting Rights. At any such meeting of ------------------------------- creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the Subordinating Creditors Creditor shall not vote with witH respect to any such plan or take any other action in any way so as to contest (ia) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (iib) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iiic) the Collateral Agent’s and Subordinating Creditors’ Creditor's obligations and agreements set forth in this Agreement.

Appears in 2 contracts

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

Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the Subordinating Creditors Creditor shall not vote with respect to any such plan or take any other action in any way so as to contest (i) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (ii) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iii) the Collateral Agent’s and Subordinating Creditors’ Creditor's obligations and agreements set forth in this Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Casella Waste Systems Inc), Subordination Agreement (Connectivity Technologies Inc)

Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceedingProceeding, the Collateral Agent and the Subordinating Creditors shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided PROVIDED that neither the Collateral Agent nor any none of the Subordinating Creditors shall vote with respect to any such plan or take any other action in any way so as to contest (i) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (ii) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iii) the Collateral Agent’s and Subordinating Creditors' obligations and agreements set forth in this Agreement.

Appears in 2 contracts

Samples: Subordination Agreement (Prentice Capital Management, LP), Subordination Agreement (Sac Capital Advisors LLC)

Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the Subordinating Creditors shall not vote with respect to any such plan or take any other action in any way so as to contest (i) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (ii) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iii) the Collateral Agent’s and Subordinating Creditors' obligations and agreements set forth in this Agreement.

Appears in 2 contracts

Samples: Junior Subordination Agreement (National Auto Finance Co Inc), Junior Subordination Agreement (National Auto Finance Co Inc)

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Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceeding, the Collateral Agent and the each Subordinating Creditors Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided PROVIDED that neither the Collateral Agent nor any of the no Subordinating Creditors Creditor shall vote with respect to any such plan or take any other action in any way so as to contest (ia) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (iib) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iiic) the Collateral Agent’s and any Subordinating Creditors’ Creditor's obligations and agreements set forth in this Agreement.

Appears in 1 contract

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

Subordinated Debt Voting Rights. At any such meeting of ------------------------------- creditors or in the event of any such case or proceeding, the Collateral Agent and the Subordinating Creditors Creditor shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided that neither the Collateral Agent nor any of the Subordinating Creditors Creditor shall not vote with respect to -------- any such plan or take any other action in any way so as to contest (ia) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (iib) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties or (iiic) the Collateral Agent’s and Subordinating Creditors’ Creditor's obligations and agreements set forth in this Agreement.

Appears in 1 contract

Samples: Subordination Agreement (Chart House Enterprises Inc)

Subordinated Debt Voting Rights. At any such meeting of creditors or in the event of any such case or proceedingproceeding referred to in Section 6.1, the Collateral Agent and the Subordinating Creditors Purchasers shall retain the right to vote and otherwise act with respect to the Subordinated Debt and Trustee Claims (including, without limitation, the right to vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), provided PROVIDED that neither the Collateral Agent nor any of the Subordinating Creditors Purchasers shall not vote with respect to any such plan or take any other action in any way so as to contest (ia) the validity of any Senior Debt or any collateral therefor or guaranties thereof, (iib) the relative rights and duties of any holders of any Senior Debt established in any instruments or agreements creating or evidencing any of the Senior Debt with respect to any of such collateral or guaranties guaranties, or (iiic) the Collateral Agent’s and Subordinating Creditors’ Purchasers' obligations and agreements set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Transtechnology Corp)

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