The subordination agreement
simply states that it is "junior" to the senior debt.
Selma Kent agreed to subordinate her lien and executed a subordination agreement
The Promissory Note is subordinated to O21NA's Loan and Security Agreement with BFI Business Finance ("BFI"), pursuant to the terms of a Debt Subordination Agreement
, dated March 23, 2010, by and between Costa Brava and BFI.
This required a subordination agreement
with a receivable lender.
75 per share, and execution of a subordination agreement
pursuant to which the Company will make no further payments to the debt holders until such time as the redemption of certain Series D Preferred Stock (to be designated) has been made in full ("Subordination Agreement
") and the issuance of New Warrants, the expiration date of which shall be 3 years past the expiration date set forth in the Eligible Warrants and a reduction of the conversion price to $0.
Wachovia Capital Finance Corporation, the Company's senior lender, and the Holder are parties to a Subordination Agreement
which provides, among other things, that in the event of a default under the New Note, Wachovia has the right to prevent the Holder from taking certain action to enforce its rights under the New Note for up to 180 days (the "Standstill Period").
Vicis entered into a subordination agreement
with Chatham, wherein Vicis agreed to subordinate the Vicis note to Chatham.
The Company's lenders and the PBGC have agreed to terms of an appropriate subordination agreement
providing for the subordination of the PBGC lien to the existing liens held by the lenders.
Leventhal said further "The agreement with Star requires execution of a subordination agreement
by our debenture holders as a prerequisite to initial funding.
we conclude that the Contract may be final even if related contracts such as the Subordination Agreement
or the UMAs have not yet been negotiated.
The Credit Facilities are secured by a $1 billion floating charge demand debenture, a general security agreement and a subordination agreement
from the Corporation covering all assets and cash flows.
The New Unsecured Note is expressly subordinated to all debts owed to the Bank pursuant to a debt subordination agreement