Subordination of Other Debts. Guarantor hereby: (a) subordinates the obligations now or hereafter owed by Borrower to Guarantor (“Subordinated Debt”) to any and all obligations of Borrower to Lender now or hereafter existing while this Guaranty is in effect, and hereby agrees that Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall immediately be forwarded to Lender by Guarantor, properly endorsed to the order of Lender, to apply to the Liabilities.
Subordination of Other Debts. Guarantor agrees: (a) to subordinate the obligations now or hereafter owed by Borrower to Guarantor (“Subordinated Debt”) to any and all obligations of Borrower to Bank or its affiliates now or hereafter existing while this Guaranty is in effect, provided however that Guarantor may receive regularly scheduled principal and interest payments on the Subordinated Debt so long as (i) all sums then due and payable by Borrower to Bank and its affiliates have been paid in full on or prior to such date, and (ii) no event or condition which constitutes or which with notice or the lapse of time would constitute an event of default with respect to the Guaranteed Obligations shall be continuing on or as of the payment date; (b) Guarantor will either place a legend indicating such subordination on every note, ledger page or other document evidencing any part of the Subordinated Debt or deliver such documents to Bank; and (c) except as permitted by this paragraph, Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall immediately be forwarded to Bank by Guarantor, properly endorsed to the order of Bank, to apply to the Guaranteed Obligations.
Subordination of Other Debts. Guarantor hereby: (a) subordinates the obligations now or hereafter owed by AQLV to Guarantor (“Subordinated Debt”) to any and all obligations of AQLV to TCA now or hereafter existing while this Guaranty is in effect, and hereby agrees that Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall immediately be forwarded to TCA by Guarantor, properly endorsed to the order of TCA, to apply to the Liabilities.
Subordination of Other Debts. Each Guarantor agrees: (a) to subordinate the obligations now or hereafter owed by the Borrower or any other Guarantor to Guarantor (“Subordinated Debt”) to any and all obligations of such Person under the Loan Documents to the Administrative Agent or Lenders or other Secured Parties now or hereafter existing while this Guaranty is in effect; provided, however that each Guarantor may, to the extent permitted by the Loan Documents, receive payments on the Subordinated Debt and dividends and distributions from the Borrower or such Subsidiary, so long as, in each case, (i) no Event of Default under the Credit Agreement exists or would result therefrom; and (ii) all conditions to such payment as set forth in the Loan Documents have been satisfied; and (b) except as permitted by this paragraph, that such Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to such Guarantor, through error or otherwise, which are not permitted to be so paid, shall immediately be forwarded to the Administrative Agent (on behalf of the Lenders) by such Guarantor, properly endorsed to the order of the Administrative Agent (on behalf of the Lenders), to apply to the Guaranteed Obligations.
Subordination of Other Debts. Guarantor agrees: (a) to subordinate the obligations now or hereafter owed by Borrower to Guarantor ("Subordinated Debt") to any and all obligations of Borrower to FRANKEL now or hereafter exxxxxxx while this Guaranty is in effect; (b) Guarantor will either place a legend indicating such subordination on every note, ledger page or other document evidencing any part of the Subordinated Debt or deliver such documents to FRANKEL; and (c) except as pxxxxxxxd by this paragraph, Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall immediately be forwarded to FRANKEL by Guarantor, properlx xxxxxsed to the order of FRANKEL, to apply to the Guaraxxxxx Xbligations.
Subordination of Other Debts. Each Guarantor hereby: (a) subordinates the obligations now or hereafter owed by Company to such Guarantor (“Subordinated Debt”) to any and all obligations of Company to Buyer now or hereafter existing while this Guaranty is in effect, and hereby agrees that such Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to such Guarantor, through error or otherwise, shall immediately be forwarded to Buyer by Guarantors, properly endorsed to the order of Buyer, to apply to the Obligations; provided, that the foregoing shall not apply to (i) inter-company debt between the Company and its wholly-owned subsidiaries, or (ii) debt that is currently outstanding between the Company and Fog Cutter, as reported in the Company’s SEC Reports.
Subordination of Other Debts. Each Guarantor hereby subordinates the obligations now or hereafter owed by Company to such Guarantor (“Subordinated Debt”) to any and all obligations of Company to Buyer now or hereafter existing while this Guaranty is in effect, and hereby agrees that such Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to a Guarantor, through error or otherwise, shall immediately be forwarded to Buyer by such Guarantor, properly endorsed to the order of Buyer, to apply to the Obligations.
Subordination of Other Debts. Any and all present or future debts of Borrower to any endorser of this Note are subordinated to the full payment and performance of all present and future debts of Borrower to Lender. No person obligated on account of this Note may seek contribution from any other person also obligated, unless and until all liabilities, obligations and indebtedness to Lender of the person from whom contribution is sought have been irrevocably satisfied in full.
Subordination of Other Debts. Each Guarantor hereby subordinates the obligations now or hereafter owed by PSID to Guarantor (“Subordinated Debt”) to any and all obligations of PSID to TCA now or hereafter existing while this Guaranty is in effect, and hereby agrees that Guarantor will not request or accept payment of or any security for any part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall immediately be forwarded to TCA by Guarantor, properly endorsed to the order of TCA, to apply to the Liabilities.
Subordination of Other Debts. Xxxxxxxxx agrees
