Subordination Default Sample Clauses

Subordination Default. Any document with respect to the Senior Indebtedness is amended or modified in violation of the Intercreditor Agreement, or any amounts previously paid with respect to this Note must be repaid or held in trust by the Payee due to compliance with or enforcement of the Intercreditor Agreement.

Subordination Default. Any document with respect to the Senior Indebtedness is amended or modified in violation of the Subordination Agreement, a blocking period provided for in the Subordination Agreement is commenced, payment of any amount due under this Note is prevented due to compliance with or enforcement of the Subordination Agreement, any amounts previously paid to the Payee must be repaid or held in trust by the Payee due to compliance with or enforcement of the Subordination Agreement, or the Makers obtain forbearance with respect to the payment of any principal or interest due under the Senior Indebtedness.

Subordination Default. If any party to the MFP Subordination Agreement or AgAmerica Subordination Agreement breaches or violates, or attempts to terminate or challenge the validity of, that MFP Subordination Agreement or AgAmerica Subordination Agreement.

Subordination Default. The subordination provisions with respect to the Subordinated Debt, at any time after the execution and delivery thereof and for any reason other than satisfaction in full of all Debt incurred hereunder and under the Notes, cease to be in full force and effect or are declared to be null and void; or any holder of twenty-five percent (25%) or more of an issue thereof (a) Borrower promptly obtains an opinion of counsel, from a law firm reasonably acceptable to the Majority Banks, addressed to Agent, on behalf of Banks, to the effect that any such denial or notice is not founded upon any reasonable basis at law; and (b) Borrower immediately takes all action necessary to obtain appropriate declaratory and injunctive relief with respect to such denial or notice in order to preserve the full force and effect of such subordination provisions; or