Examples of Insolvency or Liquidation Proceeding in a sentence
This Agreement is, is intended to be, and shall be deemed to be a “subordination agreement” under Section 510(a) of the Bankruptcy Code or any similar provision of any other Debtor Relief Law, which the parties hereto expressly acknowledge; and this Agreement is, is intended to be, and shall be deemed to be effective to the maximum extent permitted pursuant to appliable law before, during and after the commencement of any Insolvency or Liquidation Proceeding, which the parties hereto expressly acknowledge.
During any Insolvency or Liquidation Proceeding commenced by or against the Company or any other Grantor, the Unsecured Trustee and/or the Unsecured Noteholders shall be required to deliver to the Collateral Trustee any payments of principal, premium, interest, fees and other amounts due under the Unsecured Notes Indenture for distribution in accordance with Section 2.05 of the Tranche 2/3/4 Intercreditor Agreement and applicable law.