Common use of Terms of Subordination Clause in Contracts

Terms of Subordination. Unless and until the Senior Debt shall have been irrevocably paid in full and the Senior Creditor shall have no commitment to extend further Senior Debt, the payment and performance of the Subordinated Debt is hereby made expressly subordinate and junior in right of payment and performance to the prior payment and performance of all obligations and liabilities under the Senior Debt to the extent and in the manner set forth in this Section 2.

Terms of Subordination. Unless and until the Senior Debt shall have been irrevocably paid in full and the Senior Creditor Creditors shall have no commitment to extend further Senior Debt, the payment and performance of the Subordinated Debt is hereby made expressly subordinate and junior in right of payment and performance to the prior payment and performance of all obligations and liabilities under the Senior Debt to the extent and in the manner set forth in this Section 2.:

Terms of Subordination. Unless and until the Senior Debt shall have been irrevocably paid in full in cash, and the Senior Creditor Creditors shall have no commitment to extend further Senior Debt, the payment and performance of the Subordinated Debt is hereby made expressly subordinate and junior in right of payment and performance to the prior payment in cash and performance of all obligations and liabilities under the Senior Debt to the extent and in the manner set forth in this Section 2.: