Payments in Respect of Subordinated Indebtedness. Immediately upon receipt by the Administrative Agent or any Lender of any amount so payable pursuant to the subordination provision of any Indebtedness of the Company or any of its Subsidiaries that is subordinate to the Senior Credit Obligations, all proceeds thereof shall be applied as set forth in CLAUSE (vi)(B) below.
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Sources: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)
Payments in Respect of Subordinated Indebtedness. Immediately upon receipt by the Administrative Agent or any Lender of any amount so payable pursuant to the subordination provision of any Indebtedness of the Company or any of its Subsidiaries that is subordinate to the Senior Credit Obligations, all proceeds thereof shall be applied as set forth in CLAUSE (vi)(BVI)(B) below.
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