Deed of Subordination definition

Deed of Subordination means each deed of subordination in respect of Financial Indebtedness of either (i) the Obligors owed to any member of the KEL Group, or (ii) Obligors owed to KEH, in each case substantially in the form of Schedule 14 (Form of Deed of Subordination).

Deed of Subordination means a deed of subordination to be entered into between the Security Trustee and any Relevant Person pursuant to the terms of this Agreement substantially in the form of schedule 8 with such changes as are satisfactory to the Banks;

Deed of Subordination means the deed of subordination entered into or to be entered into between (1) the Lender, (2) the Obligors and (3) the Subordinated Creditor.

Examples of Deed of Subordination in a sentence

• This Agreement, the other Transaction Documents, and the obligations of Company hereunder are subject in all respects to the terms of that certain Deed of Subordination by and among Company, Investor and Bank of New Zealand of even date herewith (as amended, modified or supplemented, the “Subordination Deed”), a copy of which is attached hereto as Exhibit C.

• The SecurityPursuant to the Security Agreement (and subject to the Deed of Subordination discussed below), all payments due by Turners and the Guarantors in relation to the Bonds are secured by the Security.

• In particular, paragraph 3.4 of Schedule 2 to the Loan Note Instrument provided that if profits of BCM LP were ever allocated to the Corporate Limited Partner in BCMC LP (i.e. RBS, then Fyled) by way of “Superprofits” pursuant to clause 12.1(C) of the BCMC LP Deed, BCMCL was required, subject to clause 5.2 of the Deed of Subordination, to redeem the whole or any part of the outstanding Loan Notes.

• The occurrence of a material breach by an Obligor which is party to the Deed of Subordination and which has an Obligor Material Adverse Effect, unless the relevant Obligor has cured (or procured the curing of) the situation so that no Material Adverse Effect exists within a period of ten (10) Business Days from receipt of a written notice from the Facility Agent.

• Just as AMUSA failed to put forward any substantive case before the Cayman court to the effect that the Deed of Subordination can be impugned, it has failed in the present application to put forward any substantive evidential basis for its assertions that the Deed was, from Essar Steel’s point of view, entered into for the purpose of asset- stripping in order to avoid liability for the claim AMUSA had a few months previously referred to arbitration.

More Definitions of Deed of Subordination

Deed of Subordination means any instrument evidencing subordination and priority arrangements entered or to be entered into pursuant to clause 21.2.5 (Indebtedness);

Deed of Subordination means a deed in or substantially in the form of schedule 6.

Deed of Subordination means the deed of subordination to be entered into by the Purchaser, the Company and Barclays Bank PLC, relating to the New Loan Notes;

Deed of Subordination means the deed of subordination, dated the date hereof, between, inter alia, the Borrowers, the Lenders, CSEL, the Security Trustee and the Administrative Agent as the same may be amended or supplemented from time to time.

Deed of Subordination means the Deed of Subordination (where applicable) entered into pursuant to the terms and conditions of the Facility Letter and this Deed and the expression shall also include such additions, amendments, supplements, modifications, variations or substitutions thereto;

Deed of Subordination means a deed of subordination (in form and substance satisfactory to the Bank) to be executed by the Guarantor;

Deed of Subordination means a deed of subordination to be entered into between Comcast and the Security Trustee or any other person and the Security Trustee pursuant to the terms of this Agreement, substantially in the form of schedule 7;