Intercompany Debt. It is understood that Debt shall not include any redeemable equity interest in the Company.
Intercompany Debt. (a) Each Grantor hereby agrees that any intercompany Debt or other intercompany payables or receivables directly or indirectly made by or owed to such Grantor by any other Grantor (collectively, “Intercompany Debt”), of whatever nature at any time outstanding shall be subordinate and subject in right of payment to the prior payment in full in cash of the Borrower Obligations. Each Grantor hereby agrees that following a single written notice to Borrower, such Grantor will not, while any Event of Default is continuing, accept any payment, including by offset, on any Intercompany Debt until all Secured Obligations have been paid in full and the Commitments have been terminated, in each case, except with the prior written consent of the Agent.
Intercompany Debt. (e) endorsements of negotiable instruments for collection in the ordinary course of business.
Intercompany Debt. (i) unsecured Indebtedness of the Borrower owed to any Subsidiary Guarantor, provided such Indebtedness constitutes Subordinated Indebtedness; and (ii) unsecured Indebtedness of any Subsidiary Guarantor to the Borrower or to another Subsidiary Guarantor;
Intercompany Debt. Indebtedness of the Borrower to any of its Subsidiaries, and Indebtedness of any of the Borrower's Subsidiaries to the Borrower or to another Subsidiary of the Borrower;
Intercompany Debt amend the finance documents to (i) provide that intercompany debt should be freely transferable within the group, provided that only, in the case of any intercompany debt which is the subject of security granted in favour of the Finance Parties, equivalent security is granted to the Finance Parties; and (ii) permit amendments to any intercompany debt documents without lender consent.
Intercompany Debt. All present and future indebtedness of Borrower and any Guarantor owed or owing to any one or more of Borrower, any Guarantor, or any other Affiliate of Borrower or any other Affiliate of any Guarantor shall, at all times, be subordinated to the Obligations pursuant to a subordination agreement on Bank’s standard form (the “Intercompany Subordination Agreement”).
Intercompany Debt. Cause all of the outstanding intercompany promissory notes evidencing Indebtedness owing from a direct Subsidiary of the Borrower or any Guarantor to the Borrower or such Guarantor to be promptly delivered to the Administrative Agent, together with duly executed in blank and undated allonges attached thereto such that at all times the Administrative Agent shall maintain a first priority, perfected Lien pursuant to the terms and conditions of the Collateral Documents, and any filings and deliveries reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the Administrative Agent.
Intercompany Debt. SES shall, and shall cause its Affiliates to, take such action as may be necessary so that prior to Closing:
