Subordinator definition

Subordinator acknowledges that, prior to the execution hereof, he has had the opportunity to examine the terms of "lender's" mortgage, note and agreements relating thereto, consents to and approves same, and recognizes that "lender" has no obligation to "subordinator" to advance any funds under its mortgage or see to the application of "lender's" mortgage funds, and any application or use of such funds for purposes other than those provided for in such mortgage, note or agreements shall not defeat the subordination herein made in whole or in part.
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Subordinator at any time, a person or entity then required under the terms of paragraph 6.1
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Subordinator means any Person that has agreed, pursuant to a ------------ Subordination Agreement to which such Person is party, to subordinate Affiliate Indebtedness payable to it as provided in such Subordination Agreement.
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Examples of Subordinator in a sentence

  • Subordination Agreement: such subordination agreement from a Subordinator subordinating Indebtedness owed to it by Borrower to all or a part of the Obligations, whether delivered on or before the Effective Date or thereafter, as the same may from time to time be amended, supplemented or restated.

  • Section 2.2. The subordination of the Subordinator Obligations to the Noteholder Obligations set out in this Agreement and the other provisions of this Agreement shall apply in all events and circumstances.

  • If at any time there shall be Indebtedness that constitutes Subordinated Debt, Borrowers agree to procure from each Subordinator a Subordination Agreement pursuant to which each Subordinator acknowledges and agrees that any Subordinated Debt owed to such Subordinator is subordinate, inferior and subject to the satisfaction of all Obligations due the Bank, and that the failure of such Subordinator to execute and deliver such Subordination Agreement to the Bank shall constitute an Event of Default hereunder.

  • As further security for the Creditor, the Subordinator hereby assigns to the Creditor any and all such indebtedness now or hereafter owing by the Debtor to the Subordinator and any all collateral or security therefor.

  • Any waiver or amendment hereunder must be evidenced by a signed writing of the Requisite Holders, where the Senior Creditors are to be bound thereby, or the Subordinator Creditor, where it is to be bound thereby, and shall only be effective in the specific instance.

  • Section 7.3. This Agreement shall enure to the benefit of and be binding upon the Noteholders, the Subordinator, the Company and their respective successors and assigns.

  • Subordinator will execute such further documents or instruments and take such further action as Lender may reasonably request from time to time to carry out and enforce the provisions of this Agreement.

  • If Subordinator does not file any such claim, the holder of the Bank Debt as attorney-in-fact for Subordinator is hereby authorized to do so in the name of Subordinator or, in such holder's discretion, to assign the claim to a nominee and to cause proof of claim to be filed in the name of such holder's nominee.

  • The Subordinated Note may not be transferred or assigned by Subordinator without the prior written consent of Agent Bank and, unless so transferred or assigned, shall be owned by Subordinator at all times free and clear of any lien, pledge, charge, security interest or other encumbrance.

  • Nothing contained in this Section 4 is intended or shall be deemed or construed to waive the provisions of Section 2(b) above or in any event permit the grant by Borrower of any Lien on any Borrower Property to Subordinator (which is, presently, expressly prohibited under the Loan Agreement), except as and to the extent consented to by Lender in such Section 2(b).


More Definitions of Subordinator

Subordinator at any time, a person or entity then required under the terms of this Agreement to subordinate indebtedness owed to it by Borrower to all or any part of the Obligations.
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Related to Subordinator

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinated means, as applied to Indebtedness, Indebtedness that shall have been subordinated (by written terms or written agreement being, in either case, in form and substance satisfactory to Agent and the Required Lenders) in favor of the prior payment in full of the Obligations.