Common use of Confirmation of Subordination Clause in Contracts

Confirmation of Subordination. The Holder by its acceptance thereof agrees to take such action as may be necessary or appropriate to effect the subordination as provided in this Section 13. Upon request of the Company, and upon being furnished an Officer’s Certificate stating that one or more named Persons are Senior Creditors and specifying the amount and nature of the Senior Indebtedness of such Senior Creditor, the Holder shall enter into a written agreement or agreements, in a form acceptable to the Senior Creditor, each acting reasonably and in good faith, with the Company and the Persons named in such Officer’s Certificate providing that such Persons are entitled to all the rights and benefits of this Section 13 as Senior Creditors and for such other matters (such as standstill periods and an agreement not to amend the provisions of this Section 13 and the definitions used herein without the consent of such Senior Creditors), as the Senior Creditors may reasonably request. Such agreement shall be conclusive evidence that the indebtedness specified therein is Senior Indebtedness; however, nothing herein shall impair the rights of any Senior Creditor who has not entered into such an agreement.

Confirmation of Subordination. The Holder Each holder of Debentures by its his acceptance thereof agrees authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effect the subordination as provided in this Section 13Article 4 and appoints the Trustee his attorney-in-fact for any and all such purposes. Upon request of the Company, Corporation and upon being furnished an Officer’s Officers’ Certificate stating that one or more named Persons are Senior Creditors and specifying the amount and nature of the Senior Indebtedness of such Senior Creditor, the Holder Trustee shall enter into a written agreement or agreements, in a form acceptable to the Senior Creditor, each acting reasonably and in good faith, agreements with the Company Corporation and the Person or Persons named in such Officer’s Officers’ Certificate providing that such Person or Persons are entitled to all the rights and benefits of this Section 13 Article 4 as a Senior Creditors Creditor and for such other matters (matters, such as standstill periods and an agreement not to amend the provisions of this Section 13 Article 4 and the definitions used herein without the consent of such Senior Creditors)Creditor, as the Senior Creditors Creditor may reasonably request. Such agreement shall be conclusive evidence that the indebtedness specified therein is Senior Indebtedness; , however, nothing herein shall impair the rights of any Senior Creditor who has not entered into such an agreement.