Subordination of Payments. 11 6.8 Change of Location or Name..................................................................... 11 6.9
Subordination of Payments. The parties hereto agree that to the extent funds advanced by EPC pursuant to paragraph (a) hereof are evidenced by debt instruments (“EPC Loans”), the repayment of all amounts due to EPC in respect of such EPC Loans (collectively, the “Subordinated Debt”) are and will be subordinate, to the extent and in the manner hereinafter set forth, to payments by Holdings under the Loan Agreement between Holdings and the Issuer dated as of August 1, 2008 related to the Bonds and to payments by Holdings under the Guarantee Agreement dated as of October 1, 2006 among Holdings, the Subsidiary Guarantors named therein and Xxxxx Fargo Bank, National Association, as Collateral Trustee (the “Collateral Trustee”) as amended and supplemented by the Supplemental Guarantee Agreement, dated as of August 1, 2008 among Holdings, the Subsidiary Guarantors named therein and the Collateral Trustee (as so amended and supplemented, the “Guarantee”). Payments of Subordinated Debt may be made only as provided in the Guarantee.
Subordination of Payments. (a) HRT hereby agrees that the HRT Debt shall be subordinated to the Landlord Obligations. Except as provided in 2(b), no payment shall be made by or on behalf of Emeritus for or on account of the HRT Debt, and HRT shall not take or receive from Emeritus, directly or indirectly, in cash or other property or by setoff or in any other manner, payment of all or any of the HRT Debt, if any, so long as any sums in respect to the Landlord Obligations shall then be due and payable. If there is any conflict between the Lease and the Loan Documents, the terms of the Lease shall govern.
Subordination of Payments. Borrower shall not make any payments or distributions (including, without limitation, salary, bonuses, fees, principal, interest, dividends, liquidating distributions, management fees, cash flow distributions or lease payments) to any Affiliate or any shareholder, member or partner of Borrower or any Affiliate, or any family member of any such shareholder, member or partner. As long as there is no existing, uncured Event of Default, Borrower may pay the management fees pursuant to the Transaction Documents.
Subordination of Payments. Prior to the Discharge of the Senior Convertible Notes Claims, the Junior Bridge Notes Claims shall not receive payment of any interest, fees, expenses, premiums, or any other amounts arising under, related to, or in connection with the Junior Bridge Notes Claims or Junior Bridge Notes Documents prior to the maturity date of the Junior Bridge Notes, including in connection with any Insolvency or Liquidation Proceeding and/or on account of any adequate protection or otherwise other than as set forth in this Section or as may be permitted by Section 7; provided that, notwithstanding the foregoing, the Junior Bridge Notes Claims shall be paid from the proceeds of any Permitted Credit Facility, or may be exchanged into or for interests in any Permitted Credit Facility at the election of a Junior Bridge Note Holder, prior to the Discharge of the Senior Convertible Notes Claims.
Subordination of Payments. (a) Holder hereby agrees that this Note is subordinate and junior to the Senior Indebtedness in right of payment, and is subject to restrictions on payment and enforcement, on the terms and conditions set forth herein or therein. Holder further agrees to execute such reasonable subordination agreements and other documents or agreements as may be reasonably requested by the holder of any Senior Indebtedness to subordinate this Note to the Senior Indebtedness.
Subordination of Payments. Borrower shall not make any payments or distributions (including, without limitation, salary, bonuses, fees, principal, interest, dividends, liquidating distributions, management fees, cash flow distributions or lease payments) to any Affiliate or any shareholder, member or partner of Borrower or any Affiliate, or any family member of any such shareholder, member or partner. As long as there is no existing, uncured Event of Default, Borrower may pay the management fees pursuant to the Transaction Documents and Borrower may make distributions to Member of Option Payments received in accordance with the terms of the Option Agreement (as defined in the Lease).
Subordination of Payments. Except for Permitted Payments, Subordinated Lender shall not accept, and Borrower shall not pay, any Payments with respect to the Subordinated Debt (of principal, interest, expenses or otherwise) unless Agent gives its express prior written consent to Subordinated Lender, which consent may be granted or withheld in Agent's discretion.
Subordination of Payments. The parties hereto agree that to the extent funds advanced by EPC pursuant to paragraph (a) hereof are evidenced by debt instruments (“EPC Loans”), the repayment of all amounts due to EPC in respect of such EPC Loans (collectively, the “Subordinated Debt”) are and will be subordinate, to the extent and in the manner hereinafter set forth, to payments by Holdings under the Loan Agreement between Holdings and the Issuer dated as of October 1, 2006 related to the Bonds and to payments by Holdings under the Guarantee Agreement dated as of October 1, 2006 among Holdings, the Subsidiary Guarantors named therein and Xxxxx Fargo Bank, National Association, as Collateral Trustee (the “Guarantee”). Payments of Subordinated Debt may be made only as provided in the Guarantee.
Subordination of Payments. Except as may be permitted in the Lease, after the occurrence of an Event of Default and until such Event of Default is cured, Borrower shall not make any payments or distributions (including, without limitation, salary, bonuses, fees, principal, interest, dividends, liquidating distributions, management fees, cash flow distributions or lease payments) to any Affiliate or any shareholder, member or partner of Borrower or any Affiliate, or any family member of any such shareholder, member or partner.
