Common use of Subordination Rights Not Impaired by Acts Clause in Contracts

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- future holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 2 contracts

Samples: Indenture (Intervest Mortgage Corp), Indenture (Intervest Mortgage Corp)

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Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the ------------------------------------------------------------- Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- future ----------------------------------------- holders of any Senior Indebtedness to enforce subordination as herein provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extendmay, renewat any time or from time to time and in their absolute direction, modify change the manner, place or terms of payment, change or extend the time of payment of, or renew or alter, any such Senior Indebtedness, or amend or supplement any instrument pursuant to which any such Senior Indebtedness is issued or by which it may be secured, or release any security therefor, or exercise or refrain from exercising any other of their rights under such Senior Indebtedness, including, without limitation, the terms waiver of default thereunder, all without notice to or assent from the Holders of the Senior Indebtedness Notes or any security therefor the Trustee and release, sell or exchange such security and otherwise deal freely with without affecting the obligations of the Company, all without affecting the liabilities and obligations of the parties to the Indenture Trustee or the Holders. No provision in any supplemental indenture which affects the superior position Holders of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented theretoNotes under this Article XI.

Appears in 2 contracts

Samples: Indenture (Cybernet Internet Services International Inc), Indenture (Cybernet Internet Services International Inc)

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- future --------------------------------------------- holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 2 contracts

Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York)

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company ----------------------------------------------------------------- or Holders of Senior Indebtedness. --------------------------------- No right of any present or -------------------------------------------------- future holders of any Senior Indebtedness to enforce subordination subordination, as provided herein provided, shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms terms, provisions and covenants of this Indenture, regardless of or any knowledge thereof which any such holder may have or be otherwise charged with. The holders of any Senior Indebtedness may extend, renew, modify or amend the terms of the such Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the this Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing the Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who unless the holders of such Senior Indebtedness (required pursuant to the terms of such Senior Indebtedness to give such consent) have not consented thereto.

Appears in 1 contract

Samples: Sterling Software Inc

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- future ---------------------------------------------- holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- --------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- --------------------------------------------- future holders of any Senior Indebtedness to enforce subordination as herein provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extendmay, renewat any time or from time to time and in their absolute direction, modify change the manner, place or terms of payment, change or extend the time of payment of, or renew or alter, any such Senior Indebtedness, or amend or supplement any instrument pursuant to which any such Senior Indebtedness is issued or by which it may be secured, or release any security therefor, or exercise or refrain from exercising any other of their rights under such Senior Indebtedness, including, without limitation, the terms waiver of default thereunder, all without notice to or assent from the Holders of the Senior Indebtedness Notes or any security therefor the Trustee and release, sell or exchange such security and otherwise deal freely with without affecting the obligations of the Company, all without affecting the liabilities and obligations of the parties to the Indenture Trustee or the Holders. No provision in any supplemental indenture which affects the superior position Holders of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented theretoNotes under this Article XI.

Appears in 1 contract

Samples: Cybernet Internet Services International Inc

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- --------------------------------------------------- future holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

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Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- ---------------------------------------------------- future holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- the Company --------------------------------------------------------------------- or Holders of Senior IndebtednessDebt. No right of any present or -------------------------------------------------- future holders of ------------------------- any Senior Indebtedness Debt to enforce subordination as herein provided herein shall at any time in any way be prejudiced or impaired by any act or of failure to act on the part of the Company or by any act or failure to act, act in good faith, faith by any such holder, or by any noncompliance by the Company with the terms and provisions of this IndentureNote, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of the Senior Indebtedness may extendDebt may, renewwithout in any way affecting the obligations of Xxxxxx with respect hereto, at any time or from time to time and in their absolute discretion, change the manner, place or terms of payment of, change or extend the time of payment of, or renew or alter, any Senior Debt or amend, modify or amend the terms of the supplement any agreement or instrument governing or evidencing such Senior Indebtedness Debt or any security therefor other document referred to therein, or exercise or refrain from exercising any other of their rights under this Senior Debt including, without limitation, the waiver of default thereunder and release, sell or exchange the release of any collateral securing such security and otherwise deal freely with the CompanySenior Debt, all without affecting the liabilities and obligations of the parties notice to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented theretoassent from Xxxxxx.

Appears in 1 contract

Samples: Video Update Inc

Subordination Rights Not Impaired by Acts. or Omissions of ---------------------------------------------------------- ----------------------------------------------------------- the Company or Holders of Senior Indebtedness. No right of any present or -------------------------------------------------- future --------------------------------------------- holders of any Senior Indebtedness to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. The holders of Senior Indebtedness may extend, renew, modify or amend the terms of the Senior Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to the Indenture or the Holders. No provision in any supplemental indenture which affects the superior position of the holders of any then existing Senior Indebtedness shall be effective against the holders of the Senior Indebtedness who have not consented thereto.

Appears in 1 contract

Samples: Indenture (Intervest Mortgage Corp)

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