Examples of Subordinated Debt Documents in a sentence
Notwithstanding the terms of the Subordinated Debt Documents (or any documents governing any Subordinated DIP Financing), each Company (for itself and its subsidiaries) acknowledges that none of them may make, and Subordinated Agent and each Subordinated Lender hereby agrees that it will not accept, any Distribution (other than Permitted Subordinated Debt Payments) with respect to the Subordinated Debt until the Discharge of Senior Debt.
The failure of Companies to make any Distribution with respect to the Subordinated Debt by reason of the operation of this Section 2.3 shall not cause a “Default” or “Event of Default” under the applicable Subordinated Debt Documents.
Any release or deemed release of Liens and security interests by the Subordinated Agent or any Subordinated Lender under this paragraph shall not extend to its rights (if any) otherwise existing under applicable law and/or the Subordinated Debt Documents as to the proceeds of such sale or disposition or release of Collateral.
Make any voluntary or optional payment, prepayment or repayment on, redemption, exchange or acquisition for value of, or any sinking fund or similar payment with respect to, any Subordinated Indebtedness, except (i) with respect to intercompany Indebtedness permitted under Section 7.2(b) or (ii) as permitted by the subordination provisions in the applicable Subordinated Debt Documents and any subordination agreement with respect thereto in favor of the Administrative Agent and the Lenders.