Subordination to Senior Indebtedness. The payment of the ------------------------------------ principal of and interest on this Debenture is hereby expressly made subordinate and junior in right of payment to the prior payment in full of all principal of and interest on all Senior Indebtedness (as defined below) whether now outstanding or hereafter incurred, created or assumed.
Subordination to Senior Indebtedness. The indebtedness evidenced ------------------------------------ by this Note, and the payment of the principal hereof and any interest hereon, is wholly subordinated,
Subordination to Senior Indebtedness. Anything in this Indenture or in any Security to the contrary notwithstanding, the indebtedness evidenced by each Security shall be subordinate and junior, to the extent and in the manner hereinafter set forth, to all Senior Indebtedness as follows:
Subordination to Senior Indebtedness. The Company covenants and agrees, and each holder of a Note, by his or her acceptance thereof, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article IV and to the extent and in the manner hereinafter set forth in this Article IV, the indebtedness represented by the Notes and the payment of the principal amount, Conversion Price, and interest thereon, Company Conversion Provisional Payment, Additional Conversion Payment, redemption price for Notes called for redemption in accordance with Section 3.2, the Repurchase Price and Additional Repurchase Payment, if any, with respect to Notes submitted for repurchase in accordance with Section 16.1, liquidated damages, fees, expenses or any other amounts in respect of each and all of the Notes are hereby expressly made subordinate and junior and subject in right of payment to the prior payment in full in cash of all Senior Indebtedness of the Company now outstanding or hereinafter incurred. "
Subordination to Senior Indebtedness. The indebtedness evidenced by the Subordinated Securities of any series, including their principal and the interest on them, will be subordinate and subject in right of payment, to the extent and in the manner set forth in this Article Eleven, to the prior payment in full of all Senior Indebtedness, and each Holder by accepting the Subordinated Securities agrees to and will be bound by, and deemed to have notice of all provisions of this Indenture including this Article Eleven.
Subordination to Senior Indebtedness. This Agreement is subject to the terms of the Subordination Agreement, which agreement is incorporated herein by reference. Notwithstanding any statement to the contrary contained in this Agreement, no remedies shall be pursued, except in accordance with the terms of such agreement. Notwithstanding the incorporation by reference of the Subordination Agreement, Borrowers acknowledge that no other parties, including any Borrower or any of their successors or assigns, are intended to be benefited, in any way, by the Subordination Agreement. If MTM refinances or renegotiates the Senior Indebtedness or replaces it with other Senior Indebtedness, Investment Manager and Lender hereby agree to enter into any subordination agreement requested by any Person or Persons who are MTM's Senior Lenders or agents therefor, pursuant to which Investment Manager and Lender agree to subordinate their respective rights and interests hereunder and under the Note and the liens securing same to such Person, on terms consistent with or no less favorable to Investment Manager and Lender than those contained in the Subordination Agreement and the subordination agreement of even date herewith by and between Investment Manager and Ingram. 41
Subordination to Senior Indebtedness. The indebtedness evidenced by, and payment of the principal of and interest on, the Notes shall be subordinate and subject in right of payment to the extent and in the manner set forth in this Section 9 to the prior payment in full of all Senior Indebtedness.
Subordination to Senior Indebtedness. Each Intercompany Loan Party for itself and its successors agrees that, to the extent it is from time to time entitled to receive payment in respect of any intercompany loan, advance or other account from any other Intercompany Loan Party (a "Subordinated Obligation"), the payment of the principal of, premium, if any, interest on (including all interest accruing thereon subsequent to a Bankruptcy Event ("post-petition interest")) or other fees, costs, expenses and any other amounts accrued, incurred or otherwise due in connection with all such Subordinated Obligations from time to time, is subordinated in right of payment, to the extent and in the manner provided herein, to the payment in full of all Senior Indebtedness.
Subordination to Senior Indebtedness. Each of the Company and Subordinated Seller for itself and its respective successors and assigns, covenants and agrees, and each other holder of Subordinated Indebtedness, by its acceptance of this Note or such Subordinated Indebtedness, shall be deemed to have covenanted and agreed, that the payment of the Subordinated Indebtedness shall be subordinate and subject in right of payment, to the extent and in the manner hereinafter set forth, to the prior payment in full in cash or cash equivalents of all Senior Indebtedness, and that each holder of Senior Indebtedness, whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the provisions contained in this Section 4. The provisions of this Section 4 shall be reinstated if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness or any representative of such holder upon the insolvency, bankruptcy or reorganization of any Credit Party. Any provision of this Section 4 or the Subordinated Debt Documents to the contrary notwithstanding, no Credit Party shall make, and no holder of Subordinated Indebtedness shall accept, any payment or prepayment of principal, or prepayment of other amounts due thereunder, of any kind whatsoever with respect to the Subordinated Indebtedness at any time when any of the Senior Indebtedness remains outstanding except that, subject to the other provisions of this Section 4, a Credit Party may make and the Subordinated Seller may accept the scheduled payment of principal due on the Maturity Date and any mandatory payment of principal under Section 3(c) above which has become due and payable as provided in and in accordance with the Subordinated Debt Documents as in effect on the date hereof. Unless barred by the provisions of Sections 4(b) or 4(c), the holders of the Subordinated Indebtedness shall be entitled to receive regularly scheduled payments of interest and payment or reimbursement of all fees, expenses, indemnities and like amounts under the Subordinated Debt Documents as in effect on the date hereof. In no event shall any holder of Subordinated Indebtedness commence any action or proceeding to contest the provisions of this Agreement or the priority of the Liens granted to the holders of the Senior Indebtedness by Gerber or any other Credit Party. No holder of Subordinated Indebtedness shall take, accept o...
Subordination to Senior Indebtedness. The indebtedness evidenced by the Note, and the payment of the principal thereof, and any interest thereon, is wholly subordinated, junior and subject in right of payment, to the extent and in the manner hereinafter provided, to the prior payment of all Senior Indebtedness of the Company now outstanding or hereinafter incurred. "Senior Indebtedness" means the principal of, and premium, if any, and interest on (a) all indebtedness of the Company for monies borrowed from banks, trust companies, insurance companies and other financial institutions, including commercial paper and accounts receivable sold or assigned by the Company to such institutions, (b) all indebtedness of the Company for monies borrowed by the Company from other persons or entities, (c) obligations of the Company as lessee under leases of real or personal property, (d) principal of, and premium, if any, and interest on any indebtedness or obligations of others of the kinds described in (a), (b) and (c) above assumed or guaranteed in any manner by the Company, (d) deferrals, renewals, extensions and refundings of any such indebtedness or obligations described in (a), (b), (c) and (d) above, and (f) any other indebtedness of the Company which the Company and the holder of the Note may hereafter from time to time expressly and specifically agree in writing shall constitute Senior Indebtedness.
