Subordination of Inside Debt Sample Clauses

Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (each an “Inside Debtor” and any such indebtedness of Borrower to such Inside Debtors is hereinafter referred to as “Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement in form and substance satisfactory to Silicon in its good faith business judgment. Borrower represents and warrants that there is no
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Lien of PFG in respect of and prior payment of Obligations. Borrower represents and warrants that there is no Inside Debt presently outstanding, except as set forth in Exhibit A. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to PFG a subordination agreement on PFG’s standard form. Partners for Growth Schedule 3 to Loan and Security Agreement
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Multiplier’s standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: $12,196.04 owed by Xander Oxman to the Company in connection with the Company’s payment of his personal AMEX credit card to enable the Company to use his AMEX credit card for Company expenses. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Multiplier a subordination agreement on Multiplier’s standard form.
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (collectively, "Insiders") ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: NONE. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form. For purposes of this Agreement, Inside Debt will not include salaries, commissions, bonuses or other compensation, vacation accruals, expense reimbursements or severance pay payable by Borrower, in the ordinary course of its business (as historically conducted by Borrower and as currently conducted), to any Insider solely in such Insider's capacity as an officer, director, manager of employee of Borrower. (3)
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, expect for the following: NONE. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form. SILICON VALLEY BANK SCHEDULE TO LOAN AND SECURITY AGREEMENT --------------------------------------------------------------------------- Borrower: Silicon: QUINTON CARDIOLOGY SYSTEMS, INC. SILICON VALLEY BANK By /s/ Michael Matysik By /s/ Silicon Valley Bank ---------------------------- ------------------------------ President or Vice President Title By /s/ Tim Way ---------------------------- Secretary or Ass't Secretary Borrower: QUINTON, INC. By /s/ Michael Matysik ---------------------------- President or Vice President By /s/ Tim Way ---------------------------- Secretary or Ass't Secretary
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors, shareholders, partners and Affiliates (collectively, “Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Lender’s standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: Indebtedness to: Principal Amount Chao Feng $261,111.45 John H. Schwan $1,498,822.01 Concurrently Borrower shall cause the above Persons to execute and deliver to Lender subordination agreement(s) with respect to the foregoing debt on Lender’s standard form. Prior to incurring any Inside Debt in the future, and subject to any consent requirements contained in this Agreement, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Lender a subordination agreement on Lender’s standard form.
Subordination of Inside Debt. All present and future indebtedness of each Obligor to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on PFG’s standard form. Each Obligor represents and warrants that there is no Inside Debt outstanding in respect of itself as of the Effective Date, except as set forth in Exhibit A. Prior to incurring any Inside Debt in the future, each Obligor shall cause the proposed holder of such Inside Debt to execute and deliver to PFG a subordination agreement in PFG’s standard form. Partners for Growth Schedule to Loan and Security Agreement
Subordination of Inside Debt. All present and future indebtedness of Borrower to its officers, directors and shareholders (“Inside Debt”) shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon’s standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: (i) $527,840.91 principal plus interest owed to Lakeside Management L.L.C. as of July 31, 2005, (ii) $300,000 principal plus interest owed to Mr. Ron Seubert as of July 31, 2005 and (iii) $225,000 principal plus interest owed to AP Stock Co. as of July 31, 2005. Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon’s standard form.
Subordination of Inside Debt. All present and future indebtedness of the Borrower to its officers, directors and shareholders ("Inside Debt") shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Silicon's standard form. Borrower represents and warrants that there is no Inside Debt presently outstanding, except for the following: Insight Capital Partners IV, L.P., Insight Capital Partners (Cayman) IV, L.P., Insight Capital Partners IV (Fund B), L.P., and Insight Capital Partners IV (Co-Investors, L.P.). Prior to incurring any Inside Debt in the future, Borrower shall cause the person to whom such Inside Debt will be owed to execute and deliver to Silicon a subordination agreement on Silicon's standard form.