Subordination; Etc Sample Clauses
The Subordination clause establishes that certain rights or claims, typically of a lender or creditor, are ranked below those of other specified parties in terms of priority. In practice, this means that if the borrower defaults or the property is liquidated, the subordinated party will only be paid after the senior claims have been satisfied. This clause is commonly used in financing arrangements to clarify the order in which debts will be repaid, thereby reducing disputes and ensuring that senior lenders have priority in recovering their funds.
Subordination; Etc. Notwithstanding the date, manner or order of grant, attachment or perfection of any Liens securing the Second-Lien Obligations granted on the Collateral or of any Liens securing the First-Lien Obligations granted on the Collateral and notwithstanding any provision of the UCC, or any applicable law or the Second-Lien Loan Documents or any other circumstance whatsoever (including any non-perfection of any Lien purporting to secure the First-Lien Obligations and/or Second-Lien Obligations), the Second-Lien Collateral Agent, on behalf of itself and the other Second-Lien Creditors, and each other Second-Lien Creditor (by its acceptance of the benefits of the Second-Lien Loan Documents) hereby agrees that: (a) any Lien on the Collateral securing any First-Lien Obligations now or hereafter held by or on behalf of the U.S. First-Lien Collateral Agent or any First-Lien Creditors or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects and prior to any Lien on the Collateral securing any of the Second-Lien Obligations; and (b) any Lien on the Collateral now or hereafter held by or on behalf of the Second-Lien Collateral Agent, any Second-Lien Creditors or any agent or trustee therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral securing any First-Lien Obligations. All Liens on the Collateral securing any First-Lien Obligations shall be and remain senior in all respects and prior to all Liens on the Collateral securing any Second-Lien Obligations for all purposes, whether or not such Liens securing any First-Lien Obligations are subordinated to any Lien securing any other obligation of Holdings, the Parent Borrower, any other Grantor or any other Person. The parties hereto acknowledge and agree that it is their intent that the First-Lien Obligations (and the security therefor) constitute a separate and distinct class (and separate and distinct claims) from the Second-Lien Obligations (and the security therefor).
Subordination; Etc. Notwithstanding any provision of this Guaranty to the contrary, all rights of the Guarantors under Section 7(a) and all other rights of indemnity, contribution or subrogation of any Guarantor under applicable law or otherwise with respect to payments made pursuant to this Guaranty shall be fully subordinated to the Guaranteed Obligations until the occurrence of the termination or release provided in Section 20 of this Guaranty.
Subordination; Etc. At the option of Landlord or Landlord's permanent lender, or both of them, this lease and the Tenant's interest hereunder shall be subject and subordinate at all times to any mortgage, deed or deeds of trust, or such other security instrument or instruments, including all renewals, extensions, consolidations, assignments and refinances of the same, as well as all advances made upon the security thereof, which now or hereafter become liens upon the landlord's fee and/or leasehold interest in the demised premises, and/or any and all of the buildings now and hereafter erected or at be erected and/or any and all of the land comprising the Property, provided, however, that in each such case, the holder of such other security, the trustee of such deed of trust or holder of such other security instrument shall agree that this lease shall not be divested or in any way affected by foreclosure or other default proceedings under said mortgage, deed or trust, or other instrument or other obligations secured thereby, so long as the Tenant shall not be in default under the terms of this lease; and Tenant agrees that this lease shall remain in full force and effect notwithstanding any such default proceedings.
Subordination; Etc. Subtenant hereby agrees that (i) this Sublease is and shall remain in all respects subject and subordinate to the Lease and to any matters to which the Lease is or shall be subordinate, (ii) except to the extent otherwise expressly permitted by this Sublease, Subtenant will occupy the Subleased Premises in accordance with the terms of the Lease, will maintain the Subleased Premises in accordance with the provisions of the Lease as though it were the “Tenant” thereunder and will not do or cause to be done, or suffer any act or omit to do, any act which might result in a violation of or a default under any of the terms, conditions, covenants or agreements of the Lease.
Subordination; Etc. The subordination provisions contained in each issue of Subordinated Debt are enforceable against the Borrower, each other Obligor and the holders thereof, and all Obligations hereunder and under the other Loan Documents are within the definitions of “Designated Senior Indebtedness” and “Senior Indebtedness” (or any similar terms) included in such subordination provisions.
Subordination; Etc. Notwithstanding any provision of this Agreement to the contrary, until such time as the Obligations (other than obligations under Secured Hedge Agreements and Cash Management Obligations) shall have been paid in full in cash, all rights of any Grantor to indemnity, contribution or subrogation arising under applicable law or otherwise in favor of such Grantor as against any other Grantor as a result of the sale pursuant to this Agreement or any other Security Document of any assets of such Grantor to satisfy in whole or in part an obligation owed to any Secured Party shall be fully subordinated to the payment in full in cash of the Obligations. No failure on the part of the Borrower or any other Grantor to make any payments in respect of indemnity, contribution or subrogation rights or obligations required under applicable law or otherwise shall in any respect limit the obligations and liabilities of any Grantor with respect to its obligations hereunder, and each Grantor shall remain liable for the full amount of the obligations of such Grantor hereunder.
Subordination; Etc. Subordinated Obligations create two separate and distinct Liens with each such Lien securing only the corresponding Obligations.
Subordination; Etc. (a) The subordination provisions contained in the 5% Convertible Senior Subordinated Note Documents and the 10-1/2% Senior Subordinated Note Documents are enforceable against Holdings, the Borrower, each Subsidiary Guarantor and the holders of the 5% Convertible Senior Subordinated Notes and the 10-1/2% Senior Subordinated Notes, respectively, and all Obligations hereunder and under the other Credit Documents are within the definitions of "Designated Senior Indebtedness" and "Senior Indebtedness" included in such subordination provisions.
Subordination; Etc. Notwithstanding any provision of this Guaranty to the contrary, all rights of the Guarantors under Sections 7(a) and 7(b) and all other rights of
Subordination; Etc. 26 11.1 Subordination 26 11.2 Liens; Credit 27