Common use of Subordination of Intercompany Loans Clause in Contracts

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of any Loan Party to any Subsidiary that is not a Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, be expressly subordinated to the Loans following a Default.

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of the Borrower or any Subsidiary Loan Party to any Non-U.S. Subsidiary that is not a Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, shall be expressly subordinated to the Loans following a Defaultto at least the same extent as such existing obligations were subordinated to the obligations under the Existing Credit Agreement.

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of intercompany Debt, loans or advances owed by any Loan Party to any Subsidiary that is not a other Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, shall be expressly subordinated to the Loans following a Defaultpayment of the Obligations.

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of the Borrower or any Subsidiary Loan Party to any Non-U.S. Subsidiary that is not a Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, shall be expressly subordinated to the Loans following a Defaultto at least the same extent as the Convertible Notes.

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of any Loan Party to any Subsidiary member of the Restricted Group that is not a Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, be expressly subordinated to the Loans following a DefaultDefault on terms customary for "seller paper."

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of intercompany Debt, loans or advances owed by (i) any Loan Party to any Subsidiary that is not a other Loan Party shall, pursuant and (ii) any Loan Party to a subordination agreement reasonably satisfactory to the Administrative Agent, any Non-Guarantor Subsidiary shall be expressly subordinated to the Loans following a Defaultpayment of the Obligations.

Subordination of Intercompany Loans. Each Loan Party covenants and agrees that any existing and future debt obligation of any Loan Party to any Subsidiary that is not a Non-Loan Party shall, pursuant to a subordination agreement reasonably satisfactory to the Administrative Agent, (other than any Insurance Subsidiary) shall be expressly subordinated to the Loans following a Defaultto at least the same extent as the intercompany notes delivered pursuant to Section 4.01(r) of the Senior Credit Agreement are subordinated to the Loans under the Senior Credit Agreement.