Common use of Subordination of Certain Indebtedness Clause in Contracts

Subordination of Certain Indebtedness. Cause any indebtedness of the Company, incurred after the date of this Agreement, to any shareholder, director or officer of the Company, or to any Affiliate of the Company or of any Subsidiary of the Company, to be subordinated to all Obligations by the execution of a Subordination of Debt Agreement in the form of Exhibit F hereto and deliver to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company to be true and complete and in full force and effect.

Appears in 3 contracts

Samples: Credit and Security Agreement (U S Home Corp /De/), Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Mortgage Com Inc)

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Subordination of Certain Indebtedness. Cause Except as qualified in Section 4.1(b) hereof, cause any indebtedness of the Company, incurred after the date of this Agreement, to any shareholder, director or officer of the Company, or to any Affiliate of the Company or of any Subsidiary of the Company, to be subordinated to all Obligations by the execution of a Subordination of Debt Agreement in the form of Exhibit F hereto and deliver to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company to be true and complete and in full force and effect.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (U S Home Corp /De/)

Subordination of Certain Indebtedness. Cause any indebtedness of the CompanyBorrower, incurred after the date of this Agreement, to any shareholder, director or officer of the CompanyBorrower, or to any Affiliate of the Company Borrower or of any Subsidiary of the CompanyBorrower, to be subordinated to all Obligations Obligations, by the execution of a Subordination of Debt Agreement in the form of Exhibit F hereto and deliver to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company Borrower to be true and complete and in full force and effect.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Novastar Financial Inc)

Subordination of Certain Indebtedness. Cause Will cause any indebtedness of ------------------------------------- the Company, incurred after the date of this Agreement, to any shareholder, director or officer of the Company, Guarantor or to any Subsidiary or Affiliate of the Company or of any Subsidiary of the Company, to be subordinated to all Obligations obligations of the Company under this Agreement and the Note, by the execution of a Subordination of Debt Agreement subordination agreement, in the form of Exhibit F hereto and deliver substance satisfactory to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company to be true and complete and in full force and effectits sole discretion.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Preferred Credit Corp)

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Subordination of Certain Indebtedness. Cause any indebtedness of the Company, incurred after the date of this Agreement, to any shareholder, director or officer of the Company, or to any Affiliate of the Company or of any Subsidiary of the Company, to be subordinated to all Obligations Obligations, by the execution of a Subordination of Debt Agreement in the form of Exhibit F hereto and deliver to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company to be true and complete and in full force and effect.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Amresco Inc)

Subordination of Certain Indebtedness. Cause any indebtedness of the Company, incurred after the date of this Agreement, to any shareholder, director or officer of the Company, or to any Affiliate of the Company or of any Subsidiary of the Company, or to any Guarantor, to be subordinated to all Obligations by the execution of a Subordination of Debt Agreement in the form of Exhibit F J hereto and deliver to the Lender an executed copy of said Agreement, certified by the corporate secretary of the Company to be true and complete and in full force and effect.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Finet Holdings Corp)

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