Examples of Subordinated Agreement in a sentence
At any time after the date hereof, the Subordinated Party may request, by delivering a written request to the Senior Creditor (each an “Exception Request”), to have certain amounts, indebtedness, obligations or liabilities owing or to be owed under the Subordinated Agreement to be granted a first priority security interest position and not otherwise to be subordinated to the rights of the Senior Creditor.
No breach or default of this Note shall occur in the event that payments of the Principal Amount or interest under this Note are restricted or prohibited pursuant to the Subordinated Agreement.
Borrower hereby represents and warrants that, after giving effect to this Amendment Agreement and the transactions contemplated hereby, no Event of Default has occurred and is continuing under the Note or related Transaction Documents as defined by the Revolving Subordinated Agreement dated November 21, 2002.
In addition, the net deferred loan costs of $765 associated with the extinguished Senior Subordinated Agreement were fully amortized in 2013.
If the 10 On the understanding that parties had agreed to keep intact the fiduciary assignment of the claim against PAF and DeclamFlooring as well as the Subordinated Agreement.