Subordination of Affiliate Obligations. In the event that, for any reason whatsoever, the Company or a Person obligated in respect of the Guarantied Obligations pursuant to another guaranty, is now or hereafter becomes indebted to any Guarantor in any manner (an “Affiliate Obligation”), such Guarantor agrees that the amount of such Affiliate Obligation, interest thereon, and all other amounts due with respect thereto, shall, at all times during the existence of a Default or an Event of Default, be subordinate as to time of payment and in all other respects to all the Guarantied Obligations, and that such Guarantor shall not be entitled to enforce or receive payment thereof until all sums then due and owing to the Noteholders in respect of the Guarantied Obligations shall have been paid in full, except that such Guarantor may enforce any obligations in respect of any such Affiliate Obligation owing to such Guarantor from the Company or such indebted Person so long as all proceeds in respect of any recovery from such enforcement, to the extent of all amounts owing with respect to this Guaranty, shall be held by such Guarantor in trust for the benefit of the Noteholders. If any other payment, other than pursuant to the immediately preceding sentence, shall have been made to any Guarantor by the Company or such indebted Person on any such Affiliate Obligation during any time that a Default or an Event of Default exists and there are Guarantied Obligations outstanding, such Guarantor shall hold in trust all such payments, to the extent of all amounts owing with respect to this Guaranty, for the benefit of the Noteholders.
Subordination of Affiliate Obligations. Borrower will cause all loans or advances of Borrower to any Affiliate of Borrower at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on Schedule 5.15; Borrower will obtain and deliver to the Agent the written agreement, in form, substance and scope satisfactory to the Agent, of the holder of each such promissory note evidencing the subordination of such holder's right to payment under each such note to the payment of the Obligations. Borrower will cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Agent may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. Each Borrower and Parent Company will, and Parent Company will cause each Company to, cause all loans or advances of any Company to any Affiliate of any Company, other than loans or advances of any Loan Party to any other Loan Party, at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on Schedule 5.15. Each Borrower and Parent Company will obtain and deliver to the Agent, and Parent Company will cause each Company to obtain and deliver to the Agent, the written agreement, in form, substance and scope satisfactory to the Agent, of the holder of each such promissory note evidencing the subordination of such holder’s right to payment under each such note to the payment of the Obligations, which agreement shall not prohibit the payment of principal payments under such promissory note to the holder thereof so long as no Default or Event of Default has occurred and is continuing. Each Borrower and Parent Company will, and Parent Company will cause each Company to, cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Agent may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. Each of the Guarantors agrees that all Affiliate Obligations (as defined below), interest thereon, and all other amounts due with respect thereto, are hereby subordinated as to time of payment and in all other respects to all the Guarantied Obligations. Each Guarantor agrees that at all times during the existence of an Event of Default, such Guarantor shall not be entitled to enforce or receive any payment in respect thereof until all sums then due and owing to U.S. Agent and/or U.S. Revolving B Credit Lenders in respect of the Guarantied Obligations shall have been paid in full. If any payment shall have been made to any Guarantor by U.K. Borrower or such indebted Person on any such Affiliate Obligation during any time that an Event of Default exists and there are Guarantied Obligations outstanding, such Guarantor shall collect and receive all such payments as trustee for U.S. Agent and U.S. Revolving B Credit Lenders, to the extent of all amounts owing with respect to this Guarantee, and such amounts shall be immediately paid over to U.S. Agent (or any trustee or agent acting on behalf of U.S. Agent and/or U.S. Revolving B Credit Lenders), without affecting in any manner the liability of the Guarantors under the other provisions of this Guarantee. For purposes of this Section 2.10, “Affiliate Obligation” means any indebtedness of any kind of U.K. Borrower, or any Person obligated in respect of the Guarantied Obligations, to the Guarantors.
Subordination of Affiliate Obligations. Borrower agrees and covenants that until such time as (i) Lender has received full and final payment of the Note and (ii) all Obligations have been performed in their entirety, all indebtedness, liability and obligations of any type (the "Affiliate Obligations"),of Borrower to any other Related Person or any Affiliate of Borrower, shall be, and hereby are made, subordinate and inferior to all Debt, Obligations and liability of Borrower to Lender. Upon the occurrence and continuation of an Event of Default, no Affiliate Obligation may be paid by Borrower until the Obligations have been repaid in full in cash. If, after the occurrence and during the continuation of an Event of Default, any Related Person or any Affiliate of Borrower receives payment of any Affiliate Obligations, such Related Person or Affiliate shall hold such proceeds in trust for Lender and shall immediately remit same to Lender for application against the Obligations.
Subordination of Affiliate Obligations. Borrower will, and will cause each Company to, cause all loans or advances of any Company to any Affiliate of any Company, other than loans or advances of any Loan Party to any other Loan Party, at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on SCHEDULE 5.15. Borrower will obtain and deliver to the Agent, and will cause each Company to obtain and deliver to the Agent, the written agreement, in form, substance and scope satisfactory to the Agent, of the holder of each such promissory note evidencing the subordination of such holder's right to payment under each such note to the payment of the Obligations, which agreement shall not prohibit the payment of principal payments under such promissory note to the holder thereof so long as no Default or Event of Default has occurred and is continuing. Borrower will, and will cause each Company to, cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Agent may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. Borrower and Parent Company will, and Parent Company will cause each Company to, cause all loans or advances of any Company to any Affiliate of any Company, other than loans or advances of any Loan Party to any other Loan Party, at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on Schedule 5.15. Borrower and Parent Company will obtain and deliver to the Agent, and Parent Company will cause each Company to obtain and deliver to the Agent, the written agreement, in form, substance and scope satisfactory to the Agent, of the holder of each such promissory note evidencing the subordination of such holder's right to payment under each such note to the payment of the Obligations. Borrower and Parent Company will, and Parent Company will cause each Company to, cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Agent may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. Borrower will, and will cause each of its Subsidiaries to, cause all loans or advances of Borrower or any of its Subsidiaries to any Affiliate of Borrower or any of its Subsidiaries at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on Schedule 5.15. Borrower will obtain and deliver to the Agent the written agreement, in form, substance and scope satisfactory to the Agent, of the holder of each such promissory note evidencing the subordination of such holder's right to payment under each such note to the payment of the Obligations. Borrower will cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Agent may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. The Borrower will and will cause each Company to, cause all loans or advances of any Company to any Affiliate of any Company at any time arising or existing to be evidenced by promissory notes. All such promissory notes are set forth on Schedule 5.15. The Borrower will obtain and deliver to the Bank, and the Borrower will cause each Company to obtain and deliver to the Bank, the written agreement, in form, substance and scope satisfactory to the Bank, of the holder of each such promissory note evidencing the subordination of such holder's right to payment under each such note to the payment of the Obligations. The Borrower will and will cause each Company to, cause the face of each promissory note to be marked with a reference to such subordination agreement, and will take and cause to be taken all such further and additional actions as the Bank may reasonably request to effect and evidence such subordination.
Subordination of Affiliate Obligations. Guarantor agrees that all Affiliate Obligations (as defined below), interest thereon, and all other amounts due with respect thereto, are hereby subordinated as to time of payment and in all other respects to all the Guarantied Obligations. Guarantor agrees that at all times during the existence of an Event of Default, Guarantor shall not be entitled to enforce or receive any payment in respect thereof until all sums then due and owing to Canadian Agent and/or Canadian Lenders in respect of the Guarantied Obligations shall have been paid in full. If any payment shall have been made to Guarantor by Canadian Borrower or such indebted Person on any such Affiliate Obligation during any time that an Event of Default exists and there are Guarantied Obligations outstanding, Guarantor shall collect and receive all such payments as trustee for Canadian Agent and Canadian Lenders, to the extent of all amounts owing with respect to this Guarantee, and such amounts shall be immediately paid over to Canadian Agent (or any trustee or agent acting on behalf of Canadian Agent and/or Canadian Lenders), without affecting in any manner the liability of Guarantor under the other provisions of this Guarantee. For purposes of this Section 2.10, “Affiliate Obligation” means any indebtedness of any kind of Canadian Borrower, or any Person obligated in respect of the Guarantied Obligations, to Guarantor.
