Examples of Subordinated Creditor in a sentence
At any time following an Event of Default relating to a breach of a Major Obligation or an Acceleration Event, the Subordinated Creditor must, if requested by the Security Agent, to the extent legally permissible, release and discharge any Subordinated Debt specified by the Security Agent, by way of share contribution (Sw. aktieägartillskott), forgiveness of liabilities, or in any other way deemed appropriate by the Security Agent.
To the extent not already paid under another Debt Document, each ICA Group Company, the Subordinated Creditor and each Intercompany Creditor will, within three (3) Business Days of demand, pay to each Secured Party the amount of all costs and expenses (including external legal fees) incurred by that Secured Party in connection with the enforcement or preservation of that Secured Party's rights against that ICA Group Company, Subordinated Creditor or Intercompany Creditor under this Agreement.
If the Subordinated Creditor receives any Recovery (including by way of set-off) in excess of what is permitted pursuant to this Agreement it shall notify the Security Agent and forthwith pay such amount to the Security Agent (or as directed by the Security Agent) for application in accordance with Clause 14.1 (Order of Application)).
The Subordinated Creditor or any Intercompany Creditor may not object to any such matter by reason of any provision of any Subordinated Debt Document or Intercompany Document.
No failure to exercise, nor any delay in exercising, on the part of any Secured Party, Subordinated Creditor or Intercompany Creditor any right or remedy under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy.