Subordinate Liabilities definition

Subordinate Liabilities means all indebtedness of the Company to the Subordinated Creditors for (a) principal of and interest on the Notes, together with any prepayment fees or premiums under the Notes, and (b) all other indebtedness or liabilities of the Company, direct or indirect, contingent or noncontingent, now existing or hereafter incurred or now or hereafter due and owing to the Subordinated Creditors under or with respect to the Notes or the Purchase Agreement, including fees, reimbursement obligations, expenses, costs, and post-petition interest in bankruptcy.

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Subordinate Liabilities means all indebtedness of the Company to the Junior Lender for principal, interest, fees, indemnities, expenses and costs (including collection costs and expenses and post-petition interest in bankruptcy) or other amounts, including amounts advanced to protect the liens and security interests of the Junior Lender as provided under the Loan Agreement, direct or indirect, contingent or noncontingent, secured or unsecured, now existing or hereafter incurred or now or hereafter due and owing, pursuant to the terms of the Loan Agreement.

Subordinate Liabilities means all indebtedness of the Borrower to the Subordinated Creditors for (a) principal of and interest on the Subordinated Notes, together with any prepayment fees or premiums under the Subordinated Notes and (b) any and all other indebtedness, liabilities or obligations of any kind or nature of the Borrower, direct or indirect, contingent or non-contingent, now existing or hereafter arising or incurred or now or hereafter due and owing to any Subordinated Creditor under or with respect to the Subordinated Notes and/or the Subordinated Purchase Agreement, including without limitation fees, expenses, costs, and post-petition interest in bankruptcy.

Examples of Subordinate Liabilities in a sentence

No amendment, modification, termination or waiver of any provision of this Agreement, or consent to any departure therefrom, shall in any event be effective without the written concurrence of the Senior Lender and the Subordinated Creditor holding sixty-six and two-thirds percent (66 2/3%) in interest of the principal amount of the Subordinate Liabilities then outstanding.
Each holder of Subordinate Liabilities waives any and all notice (except notices specifically provided for herein) of the creation or modification of any Senior Obligations and notice of or proof of reliance by the holders of Senior Obligations upon the subordination provided for herein.
The provisions of this Agreement are solely for the purpose of defining the relative rights of the holders of Senior Obligations on the one hand and the holders of Subordinate Liabilities on the other hand with respect to the priority of payment of the various obligations of the Company to each of them.
Lender shall not sell, assign or otherwise transfer, in whole or in part, any Subordinate Liabilities or any interest therein, to any other person or entity (a "Transferee") unless such Transferee signs an acknowledgment in the form of Exhibit "E" hereto and delivers a signed counterpart hereof acknowledged by Borrower to each Senior Lender, whereby each such Transferee expressly acknowledges the subordination provided for in this Article VI and agrees to be bound by all of the terms thereof.
So long as a Senior Event of Default has occurred and is continuing under circumstances in which Sections 2.2 and 2.3 are not applicable, and after written notice by the Senior Lender to the Subordinated Creditors, no Subordinated Creditor shall be entitled to receive or retain any direct or indirect payment (in cash, property, by set-off or otherwise) on or with respect to the Subordinate Liabilities.
The provisions of this Agreement are solely for the purposes of defining the relative rights of the holders of Senior Obligations on the one hand and the holders of Subordinate Liabilities on the other hand, with respect to the enforcement of rights and remedies and priority of payment of the various obligations of the Company to each of them.
The provisions of this Agreement are solely for the purposes of defining the relative rights of the holders of Senior Obligations on the one hand and the holders of Subordinate Liabilities on the other hand, with respect to the enforcement of rights and remedies and priority of payment of the various obligations of the Borrower to each of them.
Notwithstanding the foregoing restriction and anything else contained herein to the contrary, the Company may make any and all regularly scheduled payments of interest on the Subordinate Liabilities, so long as, but only so long as, the Company is then in compliance with each of the conditions for payment set forth on Exhibit B and each of the other terms of this Subordination Agreement.
So long as any Senior Obligations are outstanding, each Subordinated Creditor agrees, for itself and each future holder of the Subordinate Liabilities held by it, that the Subordinate Liabilities are and shall be expressly subordinate and junior in right of payment to all Senior Obligations in the manner and solely to the extent set forth in this Section 2.
Nothing contained in this Section 2 shall at any time prevent the Company from making, or prevent the Subordinated Creditors from receiving or retaining, except as provided in Sections 2.2, 2.3, 2.4, and 2.5, payments with respect to Subordinate Liabilities in accordance with their respective terms.

More Definitions of Subordinate Liabilities

Subordinate Liabilities means all Indebtedness of Borrower to Lender for (a) principal of and interest on the Notes, together with any fees or premiums under the Notes or this Agreement, and (b) all other indebtedness or liabilities of Borrower , direct or indirect, contingent or noncontingent, now existing or hereafter incurred or now or hereafter due and owing to Lender under or with respect to the Notes or this Agreement, including fees, expenses, costs, and post-petition interest in bankruptcy.

Subordinate Liabilities set forth in the Intercreditor Agreement is hereby amended and restated in its entirety as follows:

Subordinate Liabilities means (a) all indebtedness of the Company to the Subordinated Creditor for principal of and interest on the Notes, together with any prepayment fees or premiums under the Notes, (b) all indebtedness of LTHI to the Subordinated Creditor for principal of and interest on the Bridge Notes, together with any prepayment fees or premiums under the Bridge Notes, (c) all indebtedness of the Dutch Subsidiary to the Subordinated Creditor under the Dutch Guarantee, and (d) all other indebtedness or liabilities of the Borrowers, direct or indirect, contingent or noncontingent, now existing or hereafter incurred or now or hereafter due and owing to the Subordinated Creditor under or with respect to the Notes, the Dutch Guarantee or the Purchase Agreement or otherwise, including fees, reimbursement obligations, expenses, costs, and post- petition interest in bankruptcy."

Subordinate Liabilities means all indebtedness of the Company to the Junior Subordinated Creditors for (a) principal of and interest on the Junior Subordinated Notes, together with any prepayment fees or premiums under the Junior Subordinated Notes, including without limitation any Make-Whole Amount (as such term is defined in the Junior Subordinated Purchase Agreement) and (b) any and all other indebtedness, liabilities or obligations of any kind or nature of the Company, direct or indirect, contingent or non-contingent, now existing or hereafter arising or incurred or now or hereafter due and owing to any Subordinated Creditor under or with respect to the Junior Subordinated Notes and/or the Junior Subordinated Purchase Agreement, including without limitation fees, expenses, costs, and post-petition interest in bankruptcy.

Subordinate Liabilities means collectively all Liabilities now existing and hereafter arising to the Shareholder-Creditor from the Company including, but not limited to, the existing Subordinate Liabilities set forth on Exhibit A attached hereto; providing, however, the foregoing does not constitute a consent by the Senior Banks to any such future indebtedness.