Defined Rights of Creditors; Borrower Obligations Unconditional. The provisions of this Section 2 are solely for the purpose of defining the relative rights of Subordinated Creditors and the holders of the Subordinated Debt, and the rights of the Senior Creditors and holders of Senior Debt, and shall not be deemed to create any rights or priorities in favor of any other Person, including, without limitation, the Loan Parties. As between the Loan Parties and the Subordinated Creditors, nothing contained herein shall impair the unconditional and absolute obligation of the Loan Parties to the Subordinated Creditors to pay the Subordinated Debt as such Subordinated Debt shall become due and payable in accordance with the Subordinated Debt Documents.
Appears in 3 contracts
Sources: Subordination and Intercreditor Agreement (Beneficient Co Group, L.P.), Subordination Agreement (GWG Holdings, Inc.), Credit Agreement (GWG Holdings, Inc.)