Common use of Subordinated Notes Clause in Contracts

Subordinated Notes. The subordination provisions relating to the Subordinated Notes (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 "Senior Debt" (as defined in any Subordinated Note) or "senior indebtedness" (or any other similar term)); or the Borrower 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 Agents and the Lenders.

Subordinated Notes. The subordination provisions relating to the Subordinated Notes 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 Loan or other Obligations shall fail to constitute "Senior Debt" Indebtedness (as defined in any the applicable Subordinated Note) or "senior indebtedness" Debt Document (or similar term in any other similar term)such Subordinated Debt Document); or the Borrower or any of its Subsidiaries or any holder of any Subordinated Debt 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 Agents Administrative Agent and the LendersLenders or (iii) that all payments of principal or interest with respect to any such Subordinated Debt made by the Borrower, or realized from the liquidation of any property of the Borrower, shall be subject to any of such Subordination Provisions.

Subordinated Notes. The subordination provisions relating to the Subordinated Notes (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 "Senior DebtIndebtedness" or "Designated Senior Indebtedness" (as defined in any the Subordinated Note) or "senior indebtedness" (or any other similar term)Note Indenture); or the Borrower Company 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 Agents and the Lenders.

Subordinated Notes. The subordination provisions relating to the Seller Note or to any Subordinated Notes Note Indenture (the "Subordination ProvisionsSUBORDINATION 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 monetary Obligations shall fail to constitute "Senior Debt" Indebtedness (as defined in any Subordinated Notethe Indenture) or "senior indebtedness" the same (or any other similar term)) used to define the monetary Obligations (as set forth in the Refinancing Note Indenture or any other agreement or indenture governing Subordinated Debt); or the Borrower Holdings, 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 Agents Administrative Agent, the Issuer and the Lenders.

Subordinated Notes. The subordination provisions relating to the any Subordinated Notes Note, Loan Stock or any guarantee thereof (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, any Reimbursement Obligation or other monetary Obligations shall fail to constitute "Senior Debt" or similar term (as defined in any Subordinated Note) or "senior indebtedness" (Note or any other similar term)Loan Stock instrument); or the US Borrower 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 Agents Agents, the Issuers and the Lenders.

Subordinated Notes. The subordination provisions relating to the Subordinated Notes (the "Subordination ProvisionsSUBORDINATION 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 "Senior Debt" (as defined in any Subordinated Note) or "senior indebtedness" (or any other similar term)); or the Borrower or any of its Subsidiaries Subsidiaries, if any, 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 Agents and the Lenders.