Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt (other than conversions into equity), except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or # amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof, provide for earlier or greater principal, interest, or other payments thereon, or adversely affect the subordination thereof to Obligations owed to Bank.
Subordinated Debt. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement or any applicable subordination or intercreditor agreement;
unsecured Indebtedness to trade creditors incurred in the ordinary course of business; # Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; # Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of Permitted Liens hereunder;
Indebtedness pursuant to corporate credit cards not with SVB in an aggregate amount not to exceed $250,000 at any time;
“Tangible Net Worth” means the aggregate assets of [[Organization A:Organization]] excluding all intangible assets, including, but not limited to, goodwill, licenses, trademarks, patents, copyrights, organization costs, appraisal surplus, officer, stockholder, related entity and employee advances or receivables, mineral rights and the like, less liabilities, plus Subordinated Debt, all determined in accordance with G.A.A.P. (except to the extent that under G.A.A.P. “tangible net worth” excludes leasehold improvements which are included in “Tangible Net Worth” as defined herein).
unsecured Indebtedness to trade creditors incurred in the ordinary course of business;
Amendments to Subordinated Debt or Indenture Amend, supplement or otherwise modify the Indenture or any document, instrument or agreement relating to any Subordinated Debt, if such modification # increases the principal balance of such Debt, or increases any required payment of principal or interest; # accelerates the date on which any installment of principal or any interest is due, or adds any additional redemption, put or prepayment provisions; # shortens the final maturity date or otherwise accelerates amortization; # increases the interest rate; # increases or adds any fees or charges; # modifies any covenant in a manner or adds any representation, covenant or default that is more onerous or restrictive in any material respect for any Borrower or Subsidiary, or that is otherwise materially adverse to any Borrower, any Subsidiary or Lenders; or # results in the Obligations # not constituting “Senior Debt” or the equivalent with respect to any Subordinated Debt, # not constituting Debt permitted under the 2020 Note Indenture or # otherwise not being fully benefited by the subordination provisions of any Subordinated Debt.
Until the Senior Debt is Paid in Full, Subordinated Creditor shall not, without the prior written consent of Senior Lender, take any Collection Action with respect to the Subordinated Debt until the earliest to occur of the following and in any event no earlier than ten (10) days after Senior Lender’s receipt of written notice of Subordinated Creditor’s intention to take any such Collection Action:
“Subordinated Debt Documents” means all agreements (including without limitation intercreditor agreements, instruments and other documents) pursuant to which Subordinated Debt has been or will be issued or otherwise setting forth the terms of any Subordinated Debt.
make any payment whatsoever in respect of the Subordinated Debt other than a Permitted Subordinated Debt Payment; or
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.