Agreement to Terms of Subordination Clause Samples

The Agreement to Terms of Subordination clause establishes that a party consents to have its rights or claims ranked below those of another party, typically in the context of debt or security interests. In practice, this means that if the debtor defaults or assets are liquidated, the subordinated party will only receive payment after the senior party’s claims have been fully satisfied. This clause is essential for clarifying the order of payment priorities among creditors, thereby reducing disputes and facilitating financing arrangements where multiple lenders are involved.
Agreement to Terms of Subordination. Payments from Monies Received ------------------------------------------------------------------ Only. ---- (a) Each Trustee hereby acknowledges and agrees to the terms of subordination and distribution set forth in this Agreement in respect of each Class of Certificates and agrees to enforce such provisions and cause all payments in respect of the Notes and the Liquidity Facilities to be applied in accordance with the terms of this Agreement. In addition, each Trustee hereby agrees to cause the Notes purchased by the related Trust to be registered in the name of the Subordination Agent or its nominee, as agent and trustee for such Trustee, to be held in trust by the Subordination Agent solely for the purpose of facilitating the enforcement of the subordination and other provisions of this Agreement. (b) Except as otherwise expressly provided in the next sentence of this Section 2.1, all payments to be made by the Subordination Agent hereunder shall be made only from amounts received by it that constitute Scheduled Payments, Special Payments, payments under Section 5(b) of the Participation Agreement, payments under Section 4(j) of the Note Purchase Agreement, payments under Section 2.12 of the Indentures or payments under any Liquidity Facility, and only to the extent that the Subordination Agent shall have received sufficient income or proceeds therefrom to enable it to make such payments in accordance with the terms hereof. Each of the Trustees and the Subordination Agent hereby agrees and, as provided in each Trust Agreement, each Certificateholder, by its acceptance of a Certificate, and each Liquidity Provider, by entering into the Liquidity Facility to which it is a party, has agreed to look solely to such amounts to the extent available for distribution to it as provided in this Agreement and that none of the Trustees, the Indenture Trustees, nor the Subordination Agent is personally liable to any of them for any amounts payable or any liability under this Agreement, any Trust Agreement, any Liquidity Facility or such Certificate, except (in the case of the Subordination Agent) as expressly provided herein or (in the case of the Trustee) as expressly provided in each Trust Agreement or (in the case of the Indenture Trustees) as expressly provided in any Operative Agreement.
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Agreement to Terms of Subordination. Payments from Monies Received Only..........................................20 SECTION 2.2
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Related to Agreement to Terms of Subordination

  • Agreement to Terms Buyer and Seller acknowledge that they have read the entire Agreement and that by signing below agree to all terms contained herein.

  • Amendment to Exhibit A to Services Agreement Solely with respect to Accounts that are not investment companies registered under the 1940 Act, the section of Exhibit A to the Services Agreement entitled “Administration and Risk Management” shall be, and hereby is, deleted in its entirety and replaced with the following:

  • AGREEMENT TO MODIFY CONTRACT The parties hereto agree to modify the Contract identified in Block 1, above, as described in Block 10, below, pursuant to the terms and conditions of the Contract. Except as modified herein, all other provisions of the Contract (including, but not limited to, price, delivery, and completion date) remain unchanged.

  • Second Amendment to Exhibit A to Services Agreement Exhibit A to the Services Agreement shall be, and here by is, supplemented with the following:

  • Agreement to Guarantee The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.