Subordinate Agent definition

Subordinate Agent means HCP, in its capacity as administrative agent and collateral agent under the Subordinate Loan Documents.
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Examples of Subordinate Agent in a sentence

  • Promptly after the execution of any amendment to any of the Agreements, each of Senior Agent and Subordinate Agent agrees to use commercially reasonable efforts to notify the other of such amendment, but the failure to so notify shall not in any way invalidate any term or provision contained in this Subordination and Intercreditor Agreement.

  • Each of Senior Agent (on behalf of itself and the Senior Creditors) and Subordinate Agent (on behalf of itself and the Subordinated Lenders) has the means to, and in the future intends to, remain fully informed as to the financial condition and other affairs of the Obligors and neither party shall have any obligation or duty to disclose any such information to the other party.

  • Subject to the terms of this Subordination and Intercreditor Agreement, Subordinate Agent (on behalf of itself and the Subordinated Creditors) agrees that it will not contest (and will not support any other Person in contesting) the validity, perfection, priority or enforceability of the Liens of Senior Creditors in the Collateral.

  • Subordinate Agent hereby acknowledges and agrees that (i) the Subordinated Indebtedness is unsecured pursuant to the Subordinated Loan Documents and (ii) the Subordinated Indebtedness shall not become secured by any assets or properties of, or interests in, any of the Obligors or any other Person other than as a result of judgment Liens permitted under this Agreement.

  • Any waiver, permit, consent or approval by either Senior Agent or Subordinate Agent of or under any provision, condition or covenant to this Subordination and Intercreditor Agreement must be in writing and shall be effective only to the extent it is set forth in writing and as to the specific facts or circumstances covered thereby.

  • Any amendment of this Subordination and Intercreditor Agreement must be in writing and signed by Senior Agent and Subordinate Agent and acknowledged by the Obligors.

  • Subordinate Agent covenants that any transferee of any Subordinated Indebtedness shall, prior to acquiring such interest, duly execute and deliver a counterpart of this Subordination and Intercreditor Agreement to each other party hereto.

  • Senior Agent and Subordinate Agent at any time, and from time to time, after the execution and delivery of this Subordination and Intercreditor Agreement, upon the reasonable request of the other party hereto and at the expense of Borrower, promptly will execute and deliver such further documents and do such further acts and things as such requesting party reasonably may request in order to effect fully the purposes of this Subordination and Intercreditor Agreement.

  • Subordinate Agent, on behalf of itself and the Subordinated Creditors, agrees that none of them shall contest (or support any other Person contesting) (A) any request by the Senior Agent or the Senior Creditors for adequate protection, or (B) any objection by the Senior Agent or the Senior Creditors to any motion, relief, action or proceeding based on the Senior Agent or the Senior Creditors claiming a lack of adequate protection.

  • Subordinate Agent shall not at any time be charged with knowledge of any of the events described in Section 2 hereof or on such account be prohibited from receiving or retaining any payment of monies or from taking any action regarding acceleration or the exercise of remedies, unless and until, when relevant, Subordinate Agent shall have received a Default Notice.