Subordination and Postponement. 31.01 This Lease and all the rights of the Tenant under this Lease are subject and subordinate to any and all charges against the land, buildings or improvements of which the Property form part, whether the charge is in the nature of a mortgage, trust deed, lien or any other form of charge arising from the financing of refinancing, including extensions or renewals, of the Landlord's interest in the Property.
Subordination and Postponement. The Subordinate Lender hereby subordinates and postpones the Subordinate Indebtedness and the Subordinate Security to the Senior Indebtedness and the Senior Security and agrees with the Senior Lender that the Senior Security shall be a first priority mortgage, security interest, lien and charge against the Property and all present and after-acquired personal property charged by the Senior Security, and all of the right, title and interest of the Covenantors therein, for the full amount of the Senior Indebtedness in full priority to the Subordinate Indebtedness and the Subordinate Security. The foregoing subordination and postponement of the Subordinate Indebtedness and the Subordinate Security to the Senior Indebtedness and the Senior Security shall include the subordination and postponement of the Subordinate Indebtedness to the Senior Indebtedness only to the extent required to make the Senior Security a first priority mortgage, security interest, lien and charge against the Property and all present and after-acquired personal property charged by the Senior Security, and all of the right, title and interest of the Covenantors therein, for the entire amount of the Senior Indebtedness at all times that any of the Senior Indebtedness remains outstanding. No discharge, release or waiver by the Senior Lender of any of the Senior Security against or in respect of any part of the Property or any person shall require notice to or the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender other than with respect to the Property or person in respect of which or whom the Senior Security is so discharged, released or waived. No amendment, renewal, extension, replacement, modification, supplement or restatement of any Senior Indebtedness and/or the Senior Security (each, a "Modification") shall require the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender. No amendment, renewal, extension, replacement, modification, supplement or restatement of any Subordinate Indebtedness and/or the Subordinate Security (each, a "Subordinate Modification") shall require the consent of the Senior Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Sec...
Subordination and Postponement. The Borrower and the Trustee, for itself and on behalf of each other Subordinate Party, hereby covenant and agree that all Subordinate Debt is hereby unconditionally and irrevocably deferred, postponed and subordinated in all respects to the prior indefeasible repayment in full by the Borrower of all the Senior Debt. The Borrower and the Trustee, for itself and on behalf of each other Subordinate Party, hereby covenant and agree that all Subordinate Security is hereby unconditionally and irrevocably deferred, postponed and subordinated in all respect to the Senior Security. Without limiting the generality of the foregoing, the deferment, postponement and subordination of the Subordinate Debt and the Subordinate Security contained herein shall be effective notwithstanding:
Subordination and Postponement. Each Guarantor agrees that the Subordinated Obligations shall be fully subordinated and postponed as contemplated in this Agreement, to and in favour of the Prior Obligations in all circumstances. The Noteholders shall have priority over each Guarantor in respect of all of the property of every nature and kind now existing or hereafter acquired of the Company and any other Restricted Subsidiary, to discharge and satisfy the Prior Obligations, all in priority to any claim of any Guarantor.
Subordination and Postponement. The Subordinate Lender hereby covenants and agrees that all Subordinate Debt is hereby unconditionally and irrevocably deferred, postponed and subordinated in all respects to the prior indefeasible repayment in full by the Debtor of all the Senior Debt.
Subordination and Postponement. (a) This Lease and the rights of the Tenant in this Lease shall be subject and subordinate to any and all Mortgages and the Tenant, on request by and without cost to the Landlord, shall, within five Business Days after such request, execute and deliver any and all instruments required by the Landlord to evidence such subordination. Upon request by the Tenant at the time of any request for confirmation of subordination, the Landlord shall make reasonable efforts to obtain from any Mortgagee an acknowledgement and assurance in writing addressed to the Tenant, whereby such Mortgagee acknowledges that, in the event of any such Mortgagee realizing upon the security, it will not disturb the Tenant and will permit the Tenant to remain in possession under this Lease in accordance with its terms, so long as the Tenant is not in default.
Subordination and Postponement. The Recipient and the Postponer hereby agree that all indebtedness, liabilities and obligations present and future, direct and indirect, absolute and contingent, mature or not, at any time owing by the Recipient to the Postponer including without limitation the Shareholder Indebtedness (together with all interest accruing thereto) (collectively, the “Postponed Debt”) are hereby deferred, postponed and subordinated in all respects by the Postponer to the prior repayment in full by the Recipient of all indebtedness, liabilities and obligations, present and future, direct or indirect, absolute or contingent, matured or not at any time owing by the Recipient to Her Majesty. For greater certainty, the Postponed Debt does not include royalty payments paid to the Postponer in the amount of ten cents a pound of bio-based succinic acid produced at the Recipient’s plant to be build in Sarnia in connection with the Project (“Plant”) in consideration of the grant to the Recipient of a license to use certain technologies required to operate the Plant.
Subordination and Postponement. The Recipient and the Postponer hereby agree that all indebtedness, liabilities and obligations present and future, direct and indirect, absolute and contingent, mature or not, at any time owing by the Recipient to the Postponer including without limitation the Shareholder Indebtedness (together with all interest accruing thereto) (collectively, the “Postponed Debt”) are hereby deferred, postponed and subordinated in all respects by the Postponer to the prior repayment in full by the Recipient of all indebtedness, liabilities and obligations, present and future, direct or indirect, absolute or contingent, matured or not at any time owing by the Recipient to Her Majesty.
Subordination and Postponement. The Purchaser acknowledges that the Vendor is or may be borrowing money from a financial institution or other lender to be secured by one or more charges to be registered against the Real Property and agrees that this Agreement, any interest of the Purchaser in this Agreement and in the Real Property (whether such interests are in equity or at law) and any and all Deposits paid or to be paid by the Purchaser pursuant to this Agreement and any purchasers' lien arising by the terms of this Agreement or from the payment of any deposit pursuant to this Agreement or arising by operation of law, are hereby subordinated and postponed to and will be subordinated and postponed to any mortgages, charges, debentures, security interests and trust deeds registered or to be registered against title to the Real Property or any part or parts thereof including the charging of any chattels in the Real Property and any advances thereunder made from time to time, and to any easement, license or other agreements to provide services to the Real Property or to any lands adjacent thereto and owned by the Vendor. The Purchaser agrees to execute any and all documentation necessary to give full force and effect to same forthwith after being requested to do so by the Vendor. The Purchaser acknowledges that notwithstanding any rule of law to the contrary, that by executing this Agreement, the Purchaser has not acquired any equitable or legal interest in the Real Property.
Subordination and Postponement. All rights that the Guarantor may at any time have against any other Borrower, any other Credit Party or any collateral for or in respect of the Obligations (including rights of subrogation, exoneration, reimbursement and contribution and whether arising under Applicable Law or otherwise), and all obligations that any other Borrower or any other Credit Party may at any time have to the Guarantor (including, without limitation, all intercompany receivables of the Guarantor from any other Borrower or any other Credit Party), are hereby expressly subordinated and postponed to the prior payment, observance and performance in full of the Obligations, PROVIDED that unless an Event of Default shall have occurred and be continuing or unless the Agent gives notice to the Guarantor of the occurrence of a Default, the Guarantor may retain any amount paid to it or recovered by it on account of any right or obligation subordinated and postponed pursuant to this Section and may enforce any of its rights and attempt to obtain payment or performance of any of the obligations owed to it which are subordinated and postponed pursuant to this Section.
