OCN Subordination Agreement definition

OCN Subordination Agreement means a subordination agreement by and between the Administrative Agent (on behalf of the Lenders) and the Opaskwayak Cree Nation (and any other lender in connection with the OCN First Loan or the OCN Second Loan) on terms and conditions satisfactory to the Administrative Agent, acting reasonably, including without limitation, (i) subordination of all Liens granted in connection with the Indebtedness under the OCN First Loan and the OCN Second Loan to all Liens granted to the Secured Parties in connection with the Security Documents, (ii) not less than 180-day enforcement standstill, and (iii) not less than 180- day principal, interest and fee payment blockage during the continuance of any Event of Default (subject to customary blockage limitations), which, for greater certainty, will permit such payments in accordance with the terms of the Credit Agreement while such payment blockage is not in effect.

Examples of OCN Subordination Agreement in a sentence

  • From and after the delivery of the OCN Subordination Agreement, Section 8.2(u) of the Loan Agreement prohibits the Loan Parties and their Subsidiaries from creating or permitting to exist any Lien securing the OCN Loans.

  • Section 2.1 of the OCN Subordination Agreement prohibits the repayment of the OCN Loans except as provided for therein, which with respect to refinancing the OCN Loans only refinancing through the “proceeds of a Permitted Refinancing Indebtedness (as defined in the Senior Loan Agreement [(as defined in the OCN Subordination Agreement)])[.]” A breach of Section 2.1 of the OCN Subordination Agreement would result in the breach of Section 8.7(i) of the Loan Agreement.

  • There was nothing about the employee’s job that necessitated this expense.

  • The Administrative Agent and the Required Lenders hereby consent to the consummation of the OCN Refinancing and waive any occurrence of an Event of Default under the Loan Agreement, including without limitation under Section 10.1(a) of the Loan Agreement that would arise from a violation of Sections 8.1(q), 8.2(u) and 8.7(i) of the Loan Agreement and Section 2.1 of the OCN Subordination Agreement as a result of the OCN Refinancing.

  • From and after the delivery of the OCN Subordination Agreement, Section 8.1(q) of the Loan Agreement prohibits the Loan Parties and their Subsidiaries from incurring or permitting to exist or remain outstanding the OCN Loans or any Permitted Refinancing Indebtedness in respect thereof.

  • Accordingly, the Borrower and OCN desire that the OCN Subordination Agreement (as amended by the First Amendment to Intercreditor Agreement dated as of July 15, 2020, the “OCN Subordination Agreement”) be terminated in connection with the execution of this Amendment and the OCN Loans would no longer constitute subordinated Indebtedness within the meaning of the Loan Agreement.

Related to OCN Subordination Agreement

  • Affiliate Subordination Agreement means an Affiliate Subordination Agreement in the form of Exhibit F pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations.

  • Intercompany Subordination Agreement means a subordination agreement executed and delivered by Borrowers and Agent, the form and substance of which is satisfactory to Agent.

  • Management Fee Subordination Agreement means that certain Amended and Restated Management Fee Subordination Agreement, dated as of the Closing Date, by and between the Sponsor and Agent and acknowledged by the Borrower.

  • Subordination Agreements means all subordination agreements executed by a holder of Subordinated Debt in favor of the Administrative Agent and the Lenders from time to time after the Closing Date in form and substance and on terms and conditions satisfactory to Administrative Agent.

  • Subordination Agreement means an agreement among the Agent, the applicable Borrower or Subsidiary of the Borrower and the holder of any Subordinated Debt, pursuant to which such Indebtedness is made subordinate in right of payment to Payment in Full of all Obligations on terms reasonably satisfactory to the Agent.

  • Reaffirmation Agreement means that certain Reaffirmation Agreement, dated as of the date hereof, between the Loan Parties and the Administrative Agent, for the benefit of the Administrative Agent and the Lenders and the other holders of the Secured Obligations.

  • Senior Subordinated Note Documents means the Senior Subordinated Notes, the Senior Subordinated Note Agreement, the Senior Subordinated Note Guarantees and all other documents executed and delivered with respect to the Senior Subordinated Notes or the Senior Subordinated Note Agreement.

  • Designation Agreement means a designation agreement in substantially the form of Exhibit G attached hereto, entered into by a Bank and a Designated Lender and accepted by the Administrative Agent.

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Subordination Provisions has the meaning specified in Section 8.01(l).

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Subordinated Loan Agreement means a binding agreement with a Subordinated Debt Provider providing unsecured debt financing for the benefit of the Energy Complex and on terms and conditions that shall satisfy the requirements of the Financing Documents.

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.

  • Formation Agreement has the meaning attributed to it in Recital A;

  • Arrangement Agreement means the arrangement agreement dated as of April 18, 2019 between the Purchaser and the Company, including the schedules and exhibits thereto, providing for, among other things, the Arrangement, as the same may be amended, supplemented or restated.

  • Payment Agreement means a written agreement which provides

  • TBT Agreement means the Agreement on Technical Barriers to Trade, which is part of the WTO Agreement;

  • Assignment of Management Agreement means the Assignment of Management Agreement and Subordination of Management Fees, dated the same date as this Loan Agreement, among Borrower, Lender and Property Manager, including all schedules, riders, allonges and addenda, as such Assignment of Management Agreement may be amended from time to time, and any future Assignment of Management Agreement and Subordination of Management Fees executed in accordance with Section 6.09(d).

  • Termination Agreement has the meaning set forth in the Recitals.

  • Non-Competition Agreement has the meaning set forth in Section 2.1 of this Agreement.

  • Subsidiary Guaranty Agreement means each unconditional guaranty agreement executed by the Subsidiary Guarantors in favor of the Administrative Agent for the ratable benefit of the Secured Parties, substantially in the form of Exhibit H, as amended, restated, supplemented or otherwise modified from time to time.

  • Bailee Agreement means a Bailee Agreement among Seller, Buyer and Bailee in the form of Exhibit IV hereto.

  • Senior Subordinated Indenture means the Indenture, dated as of August 30, 2007, among the Company, the subsidiary guarantors party thereto from time to time and Xxxxx Fargo Bank, National Association, as trustee, governing the 13.5% Senior Subordinated Notes due 2015 of the Company, as the same may be amended, supplemented, waived or otherwise modified from time to time.

  • Repayment Agreement means an agreement

  • Sponsor Agreement has the meaning specified in the Recitals hereto.

  • Reservation agreement means a written contract entered into between MBOH and the taxpayer to provide for a Reservation and setting forth the terms and conditions under which the taxpayer may obtain a Carryover Commitment or Final Allocation.