Permitted Subordinated Debt. Borrower shall not make prepayments on any existing or future Indebtedness to any Person other than to Lender or to the extent specifically permitted by this Agreement or any subsequent agreement between Borrower and Lender.
Permitted Subordinated Debt. (a) The Borrower will not, and will not permit any of its Subsidiaries to (i) prepay, redeem, repurchase or otherwise acquire for value any Permitted Subordinated Debt, or (ii) make any principal, interest or other payments on any Permitted Subordinated Debt that is not expressly permitted by the subordination provisions of the Subordinated Debt Documents.
Permitted Subordinated Debt. (C) Debt of the Borrower or any Subsidiary of the Borrower secured by a Lien described in clause (vii) of the definition of Permitted Liens, in an aggregate principal amount outstanding at any time not to exceed $25,000,000;
Permitted Subordinated Debt. The subordination provisions relating to any Permitted Subordinated Debt (the "Subordination Provisions") shall fail to be enforceable by the Lenders (which have not effectively waived the benefits thereof) in accordance with the terms thereof, or the principal or interest on any Loan, Reimbursement Obligation or other Obligations shall fail to constitute "designated senior debt" (or any other similar term) under any document, instrument or agreement evidencing such Permitted Subordinated Debt; or Holdings, the Borrower or any of their respective Subsidiaries shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of any of the Subordination Provisions, or (ii) that any of such Subordination Provisions exist for the benefit of the holders of the Obligations.
Permitted Subordinated Debt. The Company shall not: ---------------------------
Permitted Subordinated Debt. 51 7.11 ERISA............................................................... 52 7.12 Business or Accounting Changes...................................... 52 7.13 Minimum Cash and Equivalents........................................ 52 7.14 Combined Tangible Net Worth......................................... 53 7.15
Permitted Subordinated Debt. The Borrowers have delivered to the Administrative Agent a complete and correct copy of all evidences of Permitted Subordinated Debt and neither the Borrowers nor any Material Subsidiary is in default thereunder. The Borrowers and each Material Subsidiary has the corporate power and authority to incur the Debt evidenced by such Permitted Subordinated Debt. The subordination provisions of all Permitted Subordinated Debt are enforceable against the holders thereof by the Administrative Agent and the Lenders subject to (a) applicable bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors' rights generally, (b) general principals of equity including the fact that specific performance and injunctive relief may only be given at the discretion of the courts, and (c) the equitable or statutory powers of the courts to stay proceedings before them and to stay the execution of judgments, and are subject to the terms of this Agreement and the other Loan Documents. The Borrowers acknowledge that the Administrative Agent and each Credit Facility Lender are entering into this Agreement and are extending the Commitments in reliance upon the subordination provisions of the Permitted Subordinated Debt.
Permitted Subordinated Debt notwithstanding the terms of any Permitted Subordinated Debt Document:
Permitted Subordinated Debt. Borrower represents and warrants to Bank that, as of the Effective Date, (a) the amount of the Permitted Subordinated Debt is at least $6,375,000.00 consisting of principal in the amount of $5,000,000.00 and the balance consisting of accrued, but unpaid, interest, and (b) the maturity date of the Permitted Subordinated Debt is on or after October 22, 2009. Borrower shall provide written evidence of the same to Bank.
Permitted Subordinated Debt. The subordination provisions relating to any Subordinated Debt (the “Subordination Provisions”) shall fail to be enforceable by the Lender (provided the Lender has not effectively waived the benefits thereof) in accordance with the terms thereof or any Loan Party or any of its Subsidiaries shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of any of the Subordination Provisions, or (ii) that any of such Subordination Provisions exist for the benefit of the Lender; or
