Definition of Postponed Debt

  1. Postponed Debt means indebtedness that is fully postponed and subordinated, both as to principal and interest, on terms satisfactory to the Bank, to the obligations owing to the Bank hereunder;

Examples of Postponed Debt in a sentence

  1. The subordination and postponement herein provided shall be in effect notwithstanding: (1) the respective dates of the creation or incurrence of any Postponed Debt or the Senior Obligations or any terms thereof; (2) the respective dates of execution and registration of the Security; (3) the provisions of the Security; or (4) any other act or circumstance whatsoever which may otherwise alter or affect the subordination and postponement herein provided.