subsists definition
subsists means: (a) with respect to any Potential Event of Default, that such Potential Event of Default is not remedied and is unwaived; or (b) with respect to any Event of Default, that: (i) such Event of Default is not remedied to the satisfaction of the Intercreditor Agent, provided that this paragraph (i) shall not apply if and to the extent that any Senior Lender has commenced the enforcement of any of its rights under or in connection with the Senior Finance Documents; or (ii) such Event of Default is unwaived.