Debt Subordination Agreement Sample Contracts

Stanley Furniture Company, Inc. – InterCreditor and Debt Subordination Agreement (March 8th, 2018)

THIS INTERCREDITOR AND DEBT SUBORDINATION AGREEMENT (this "Subordination Agreement"), dated March 2, 2018, between STANLEY FURNITURE COMPANY, INC., a Delaware corporation ("Junior Creditor"), having an address of 2115 E. 7th Street, Suite 101, Charlotte, North Carolina 28204, and NORTH MILL CAPITAL LLC, a Delaware limited liability company ("NMC") having an office at 821 Alexander Road, Suite 130, Princeton, New Jersey 08540.

Clean Diesel Technologies, Inc. – Debt Subordination Agreement (July 1st, 2016)

This Debt Subordination Agreement is executed by the above-named Creditor (Creditor) in favor of Haldor Topsoe A/S (Lender), with respect to the above-named borrower (Borrower). In order to induce Lender to extend or continue to extend financing to the Borrower (but without obligation on Lenders part to do so), Creditor hereby agrees as follows:

Simple Products Corp – Contract (October 16th, 2012)
Calamp – Debt Subordination Agreement Upon Acceleration Event Only (May 11th, 2012)

This Debt Subordination Agreement Upon Acceleration Event Only is executed by the above-named Creditor (the "Creditor") in favor of SQUARE 1 BANK (Lender), whose address is 406 Blackwell Street, Suite 240, Durham, North Carolina 27701, with respect to the above-named obligors (jointly and severally, "Obligor"). In order to induce Lender to extend or continue to extend financing to the Obligor (but without obligation on Lenders part to do so), the Creditor hereby agrees as follows:

Champion Industries, Inc. – Debt Subordination Agreement (January 4th, 2010)
Any Indebtedness Evidenced by This Instrument Is Subordinated to the Senior Debt of the "Maker" (As Defined Below) Pursuant to That Certain Debt Subordination Agreement by and Between the "Maker" (As Defined Below), Maker's Senior Creditor (Together With Its Successors and Assigns, the "Bank") and the "Payee" (As Defined Below)(as Amended, Restated, Supplemented, or Otherwise Modified From Time to Time, the "Subordination Agreement") Attached Hereto as Exhibit B. This Instrument May Not Be Modified, Restated, Renewed, Supplemented, Extended, Refinanced, Replaced or Otherwise Altered in Any Man (July 6th, 2009)

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES ACT"), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED EXCEPT (I) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR (II) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, BUT ONLY UPON THE PAYEE FIRST HAVING OBTAINED A WRITTEN OPINION OF MAKER'S COUNSEL, OR OTHER COUNSEL ACCEPTABLE TO MAKER, THAT THE PROPOSED DISPOSITION IS CONSISTENT WITH ALL APPLICABLE PROVISIONS OF THE SECURITIES ACT AND ANY APPLICABLE "BLUE SKY" OR OTHER SIMILAR SECURITIES LAW.

Debt Subordination Agreement (July 6th, 2009)

THIS DEBT SUBORDINATION AGREEMENT (this "Agreement") is made and entered into this _____ day of June, 2009, among __________________________ ("Subordinate Creditor"), a ____________________________________, SMF ENERGY CORPORATION, a Delaware corporation ("SMF"), SMF SERVICES, INC., a Delaware corporation ("SSI"), H & W PETROLEUM COMPANY, INC., a Texas corporation ("H&W"; each of SMF, SSI and H&W is sometimes referred to herein individually as a "Debtor," and collectively they are sometimes referred to herein as "Debtors"), and WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, "Lender").

Deep Down Inc. – Debt Subordination Agreement (March 16th, 2009)

For valuable consideration, receipt whereof is hereby acknowledged, and in consideration of all loans, advances, discounts, renewals or extensions now or hereafter made, given or continued by TD BANK, N.A., a banking corporation organized under the laws of the United States of America, with a place of business at One Portland Square, Portland, Maine, and a mailing address of P.O. Box 9540, Portland, Maine 04112-9540 (hereinafter called the "Bank") to or for the account of FLOTATION TECHNOLOGIES, INC. (hereinafter called the "Borrower"), the Borrower and DEEP DOWN, INC. (hereinafter the "Parent Company") agree with the Bank as follows:

DEBT SUBORDINATION AGREEMENT November 21, 2008 (November 26th, 2008)

The undersigned, ANCHOR FUNDING SERVICES, INC. ("Creditor"), is a creditor of ANCHOR FUNDING SERVICES LLC ("Debtor"). In order to induce TEXTRON FINANCIAL CORPORATION (the "Agent"), as Agent for itself and other financial institutions (the "Lenders"), party from time to time to a Loan and Security Agreement (as amended, modified or restated, the "Loan Agreement"), dated on or about the date hereof, between Agent and Debtor, to extend or continue extending financial accommodations to Debtor, Creditor hereby warrants, represents and agrees as follows:

General Automotive Co – Debt Subordination Agreement (September 11th, 2008)

In consideration of the line of credit to OE SOURCE, L.C., (hereinafter called "Debtor"), undersigned hereby agrees that any and all liability that said Debtor may now or hereafter owe to undersigned shall be subordinate and junior to any and all liability said Debtor may now or hereafter owe to you direct or contingent. Undersigned also agree that any collateral that undersigned shall have to secure its indebtedness will be subordinate and junior to you.

MCG Capital Corporation – REVOLVING CREDIT AGREEMENT Dated as of May 30, 2008 Among MCG CAPITAL CORPORATION, as Borrower and SUNTRUST BANK, as Administrative Agent, Issuing Bank, and Swingline Lender and Various Lenders and SUNTRUST ROBINSON HUMPHREY, INC. As Lead Arranger and Sole Bookrunner (June 5th, 2008)
Debt Subordination Agreement (May 15th, 2008)

This Debt Subordination Agreement is entered into as of May 13, 2008 ("Agreement"), by Wachovia Bank, National Association, a national banking association, whose address is 12 East 49th Street, 43rd Floor, New York, New York 10017 ("Bank"), Qualytextil S.A., with an address of Avenida Bernardino de Campos, no 98, sala 09, 14o andar, CEP 04004-040, Sao Paulo, Sao Paulo, Brazil ("Creditor"), and Lakeland Industries, Inc., whose address is 701-07 Koehler Avenue, Ronkonkoma, New York 11779 ("Borrower").

Debt Subordination Agreement (May 15th, 2008)

This Debt Subordination Agreement is entered into as of May 13, 2008 ("Agreement"), by Wachovia Bank, National Association, a national banking association, whose address is 12 East 49th Street, 43rd Floor, New York, New York 10017 ("Bank"), Lakeland Do Brasil Empreendimentos E Participacoes Ltda., with an address of Avenida Bernardino de Campos, no 98, sala 09, 14o andar, CEP 04004-040, Sao Paulo, Sao Paulo, Brazil ("Creditor"), and Lakeland Industries, Inc., whose address is 701-07 Koehler Avenue, Ronkonkoma, New York 11779 ("Borrower").

Nature Vision – Debt Subordination Agreement (November 15th, 2007)
Siouxland Ethanol, LLC – Debt Subordination Agreement (December 28th, 2006)

THIS DEBT SUBORDINATION AGREEMENT (Agreement) is made and entered into as of September 28, 2006, among Wells Fargo Bank, National Association, in Lincoln, Nebraska, as trustee (the Creditor) for the owners of the $4,030,000 Community Redevelopment Authority of the Village of Jackson, Nebraska, Tax Increment Revenue Bonds, Taxable Series 2006A (Siouxland Ethanol Plant Project) (the Series 2006A Bonds) pursuant to that certain Bond Resolution, dated as of July 20, 2006 (the Bond Resolution), and Siouxland Ethanol, LLC (the Company), and Farm Credit Services of America, FLCA (FCSA).

Contract (May 11th, 2006)

EXHIBIT 10.3 SECOND AMENDED AND RESTATED DEBT SUBORDINATION AGREEMENT THIS AGREEMENT effective as of the 5th day of May, 2006, by and among KEVIN J. THOMAS, an individual (the "Creditor"), ARGAN, INC., a Delaware corporation ("Argan"), SOUTHERN MARYLAND CABLE, INC., a Maryland corporation ("SMC"), VITARICH LABORATORIES, INC., a Delaware corporation ("Vitarich" and collectively with Argan and SMC, the "Debtor") and BANK OF AMERICA, N.A., a national banking association, its successors and assigns (the "Lender"). WHEREAS, reference is made to that certain Financing and Security Agreement among Argan, SMC and the Lender dated as of August 19, 2003 (as the same may be amended, supplemented or modified from time to time, the "FSA") pursuant to which the Lender has extended to the Debtor certain loans as more particularly described therein (collectively, the "Loans"); and WHEREAS, Argan, executed and delivered

Debt Subordination Agreement (November 28th, 2005)

This Debt Subordination Agreement is entered into as of the 22nd day of November, 2005, between and among STEN Acquisition Corporation, a Minnesota corporation (Lender) and Arthur Petrie, an individual resident of the State of Nevada (the Creditor).

Contract (February 4th, 2005)

Exhibit 10.1 DEBT SUBORDINATION AGREEMENT THIS AGREEMENT is made as of the 31st day of January, 2005 by and among KEVIN J. THOMAS, an individual (the "CREDITOR"), ARGAN, INC., a Delaware corporation ("ARGAN"), SOUTHERN MARYLAND CABLE, INC., a Maryland corporation ("SMC" and together with Argan, the "DEBTOR") and BANK OF AMERICA, N.A., a national banking association (the "LENDER"). WHEREAS, reference is made to that certain Financing and Security Agreement among the Debtor and the Lender dated as of August 19, 2003 (as the same may be amended, supplemented or modified from time to time, the "FSA") pursuant to which the Lender has extended to the Debtor certain loans as more particularly described therein (collectively, the "LOANS"); and WHEREAS, Thomas, the Debtor, Vitarich Laboratories, Inc., a Florida corporation ("VITARICH") and AGAX/VLI Acquisition Corporation, a Delaware corporati