Common use of Creditor Status Clause in Contracts

Creditor Status. The Grantor shall be a general creditor of the Company under this Agreement and any obligation of the Company to the Grantee under this Agreement shall be subordinated to any obligation of the Company to the various lending institutions under the Amended and Restated Credit Agreement, dated as of May 8, 2007 and as amended or restated from time to time, among the Company, various designated subsidiary borrowers, various lending institutions and JPMorgan Chase Bank, N.A., as Administrative Agent.

Appears in 1 contract

Sources: Long Term Incentive Agreement (Endurance Specialty Holdings LTD)

Creditor Status. The Grantor shall be a general creditor of the Company under this Agreement and any obligation of the Company to the Grantee under this Agreement shall be subordinated to any obligation of the Company to the various lending institutions under the Amended and Restated Credit Agreement, dated as of May 8April 19, 2007 2012 and as amended or restated from time to time, among the Company, various designated subsidiary borrowers, various lending institutions and JPMorgan Chase Bank, N.A., as Administrative Agent.

Appears in 1 contract

Sources: Long Term Incentive Agreement (Endurance Specialty Holdings LTD)