Subordinated Obligations Payment Restrictions. Until the Discharge of Senior Indebtedness shall have occurred, no payment or distribution of any kind or character (whether of principal, interest, fees or other amounts and whether in cash, securities, assets, by set-off, or otherwise, including any payment that may be payable by reason of the payment of any other Indebtedness of the Obligors being subordinated to the payment of the Subordinated Obligations) on account of any Subordinated Obligations shall be made by or on behalf of the Obligors, and (subject to Section 2(c)) neither the Subordinated Agent nor any Subordinated Lender will accept, ask for, demand, sue for, take, receive or accelerate any such payment, directly or indirectly, from or on behalf of any of the Obligors; provided, however, that, subject to any requirements or conditions set forth in this Section 4, and subject to Sections 5 and 7 of this Subordination Agreement, the Obligors may pay, and the Subordinated Agent, on behalf of the Subordinated Lenders, may receive payment in cash of reasonable out-of-pocket costs and expenses (including reasonable out-of-pocket legal fees and expenses) due and payable in accordance with the terms of the Subordinated Loan Documents so long as no Default (as defined in the Senior NIA) or Event of Default has occurred and is continuing. b. No Prepayment or Acceleration of Subordinated Obligations. Except as expressly set forth in Section 4.a of this Subordination Agreement, until the Discharge of Senior Indebtedness shall have occurred, the Subordinated Agent agrees, for and on behalf of itself and the Subordinated Lenders, that neither it nor any Subordinated Lender shall take, accept or receive any payment or prepayment of the principal of any Subordinated Obligations, any payments resulting from any breach or default under any of the Subordinated Loan Documents, any prepayment as a result of the acceleration of any amounts due under any Subordinated Loan Document, or any other direct or indirect payments or distributions whatsoever on account of the Subordinated Obligations, unless, in the case of any other payment or prepayment, the Senior Agent (acting at the direction of the relevant Senior Lenders) has otherwise agreed. c. In the event that, notwithstanding the terms of the foregoing Section 4.a of this Subordination Agreement, the Obligors shall make any prohibited payment to the Subordinated Agent or any Subordinated Lender or the Subordinated Agent or any Subordinated Lender shall otherwis...
Subordinated Obligations Payment Restrictions. Until the Discharge of Senior Indebtedness shall have occurred, no payment or distribution of any kind or character (whether of principal, interest, fees or other amounts and whether in cash, securities, assets, by set-off, or otherwise, including any payment that may be payable by reason of the payment of any other Indebtedness of the Obligors being subordinated to the payment of the Subordinated Obligations) on account of any Subordinated Obligations shall be made by or on behalf of the Obligors, and (subject to Section 2(c)) neither the Subordinated Agent nor any Subordinated Lender will accept, ask for, demand, sue for, take, receive or accelerate any such payment, directly or indirectly, from or on behalf of any of the Obligors; provided, however, that, subject to any requirements or conditions set forth in this Section 4, and subject to Sections 5 and 7 of this Subordination Agreement, the Obligors may pay, and the Subordinated Agent, on behalf of the Subordinated Lenders, may receive payment in cash of reasonable out-of-pocket costs and expenses (including reasonable out-of-pocket legal fees and expenses) due and payable in accordance with the terms
Subordinated Obligations Payment Restrictions. (a) Notwithstanding the terms of the Subordinated Obligation Documents, the Company hereby agrees that it may not make, and the Subordinated Investor hereby agrees that it will not accept, any Distribution with respect to the Subordinated Obligations until the Senior Obligations are Paid in Full, except as set forth in Section 2.3(b) below.
Subordinated Obligations Payment Restrictions. Until the Discharge of Senior Indebtedness shall have occurred, no payment or distribution of any kind or character (whether of principal, interest, fees or other amounts and whether in cash, securities, assets, by set-off, or otherwise, including any payment that may be payable by reason of the payment of any other Indebtedness of the Obligors being subordinated to the payment of the Subordinated Obligations) on account of any Subordinated Obligations shall be made by or on behalf of the Obligors, and (subject to Section 2(c)) neither the Subordinated Agent nor any Subordinated Lender will accept, ask for, demand, sue for, take, receive or accelerate any such payment, directly or indirectly, from or on behalf of any of the Obligors except for the Permitted Payments. For the avoidance of doubt, no limitation set forth in this Section 4a. shall apply to the Rami Payment Rights.
Subordinated Obligations Payment Restrictions. (a) Notwithstanding the terms of the Subordinated Documents, the Credit Party hereby agrees that it may not make, directly or indirectly, and the Subordinated Creditor hereby agrees that it will not accept, any Distribution with respect to the Subordinated Obligations until the Senior Obligations are indefeasibly paid in full in cash and all commitments to enter into commodities purchase transactions under the Senior Documents have terminated other than Permitted Subordinated Obligations Payments subject to the terms of subsection 2.2 of this Agreement; provided, however, that the Credit Party and the Subordinated Creditor further agree that no Permitted Subordinated Obligations Payment may be made by the Credit Party, directly or indirectly, or accepted by the Subordinated Creditor if, at the time of such payment:
