Subordinated Notes definition
Examples of Subordinated Notes in a sentence
If requested by a person on the Closing Date, the Subordinated Notes may be issued in uncertificated, fully registered form evidenced by entry in the Register (an “Uncertificated Subordinated Note”).
If a Majority of the Subordinated Notes approves such Controlling Class nominee, such nominee shall become the Collateral Manager.
Neither the subordination of the Subordinated Notes as herein provided nor the rights of the holders of Senior Indebtedness with respect hereto shall be affected by any extension, renewal or modification of the terms, or the granting of any security in respect of, any Senior Indebtedness or any exercise or non-exercise of any right, power or remedy with respect thereto.
Any other amendment or waiver to this Agreement shall be subject to the consent of a Majority of the Subordinated Notes; provided that no such amendment or waiver shall reduce in any manner the amount of, or delay the timing of, any amounts received on Collateral Obligations which are required to be distributed on any Note without the consent of the related Noteholder, or change the rights or obligations of any other party hereto without the consent of such party.
No right of any holder of Senior Indebtedness to enforce the subordination of indebtedness evidenced by the Subordinated Notes shall in any way be prejudiced or impaired by any act or failure to act by the Obligor or by any such holder or the Agent, or by any non-compliance by the Obligor with the terms, provisions or covenants herein, regardless of any knowledge thereof which any such holder or the Agent may have or be otherwise charged with.