Examples of Subordination and Intercreditor Agreement in a sentence
Reference is made to the Lien Subordination and Intercreditor Agreement dated as of June 9, 2008, among General Electric Capital Corporation, as Collateral Agent for the Revolving Facility Secured Parties referred to therein, U.S. Bank National Association, as Trustee and as Noteholder Collateral Agent, Ply Gem Holdings, Inc., Ply Gem Industries, Inc.
The Lien Subordination and Intercreditor Agreement provides that, at any time that obligations that have the benefit of senior priority liens on the collateral are outstanding, including the holders of the PIK Notes, the trustee under the PIK Notes Indenture and the collateral agent may not assert or enforce any right of marshaling accorded to a junior priority lienholder, as against the holders of such indebtedness secured by senior priority liens in the collateral.
Capitalized terms used herein but not otherwise defined herein shall have the meaning assigned to such terms in the Junior Lien Subordination and Intercreditor Agreement.
In the event of any conflict between the provisions of this instrument and the Subordination and Intercreditor Agreement, the terms of the Subordination and Intercreditor Agreement shall govern.” In the event any legend is omitted, Senior Agent, or any of its officers or employees, are hereby irrevocably authorized on behalf of Subordinated Creditors to make the same.
Gemino, KP Corp., KPCH, KPNC, and the Bond Trustee entered into a Subordination and Intercreditor Agreement dated as of April 6, 2010 (as amended from time to time) that governs the rights and remedies of Gemino and the Bond Trustee (as defined below), respectively, to each party’s individual secured collateral.