Reliance on Subordination Clause Samples

Reliance on Subordination. Each holder of the Subordinated Indebtedness by its acceptance hereof acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each Senior Creditor to acquire and continue to hold the Senior Indebtedness and such holder of the Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold such Senior Indebtedness and shall be deemed a third party beneficiary of such provisions.
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Reliance on Subordination. The Payee and each other holder from time to time of the Subordinated Debt by its acceptance thereof consents and agrees that all Senior Debt shall be deemed to have been made or incurred at the request of the Payee and all other holders from time to time of the Subordinated Debt and in reliance upon the subordination of the Subordinated Debt pursuant to this Annex A.
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Reliance on Subordination. The Junior Creditor and each holder of the Subordinated Debt by its acceptance thereof consents and agrees that all Senior Debt shall be deemed to have been made or incurred in reliance upon the subordination of the Subordinated Debt pursuant to this Agreement.
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Reliance on Subordination. Each Holder of a Note by purchasing or accepting a Note waives any and all notice of the creation, modification, renewal, extension or accrual of any Senior Debt and notice of or proof of reliance by any holder or owner of Senior Debt upon this Article; and the Senior Debt shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Article and the Intercreditor Deed, and all dealings between the High Yield Subordinated Guarantor and the holders and owners of the Senior Debt shall be deemed to have been consummated in reliance upon this Article and the Intercreditor Deed.
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Reliance on Subordination. The Subordinated Creditor by its acceptance hereof acknowledges and agrees that the foregoing subordination provisions, and the other provisions herein that are for the benefit of the Senior Agent and the Senior Lenders, are, and are intended to be, an inducement and a consideration to the Senior Agent and the Senior Lenders to continue to hold the Senior Obligations and to consent to the issuance of this Note and the Senior Agent and such Senior Lenders shall be deemed conclusively to have relied on such subordination and other provisions in acquiring and continuing to hold such Senior Obligations and consenting to the issuance of this Note and shall be deemed a third party beneficiary of such provisions, entitled to the enforcement thereof. This Section 5 is a continuing agreement of subordination and the Senior Lenders may continue to make loans to or otherwise accept the obligations of the Borrower in reliance hereon, without notice to any holder of this Note.
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Reliance on Subordination. [INSERT NAME OF AFFILIATE] consents and agrees that all Senior Debt shall be deemed to have been made or incurred at the request of [INSERT NAME OF AFFILIATE] and in reliance upon the subordination of the Subordinated Debt pursuant to this Annex A.
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Reliance on Subordination. The Holder of this Note by its acceptance hereof consents and agrees that all Senior Debt shall be deemed to have been made or incurred at the request of the Holder of this Note and in reliance upon the subordination of this Note pursuant to the subordination provisions hereof.
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Reliance on Subordination. Each holder of the Subordinated Indebtedness by its execution hereof and by its acceptance of any Subordinated Indebtedness acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each of the Lenders to acquire and/or to hold Senior Indebtedness and each present and future holder of the Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold such Senior Indebtedness, and shall be deemed a third party beneficiary of this Agreement and shall be entitled to enforce the provisions hereof.
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Reliance on Subordination. Each Holder of a Subordinated Guarantee by purchasing or accepting a Subordinated Guarantee waives any and all notice of the creation, modification, renewal, extension or accrual of any Guarantor Senior Indebtedness and notice of or proof of reliance by any holder or owner of Guarantor Senior Indebtedness upon this Article Twelve; and the Guarantor Senior Indebtedness shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Article Twelve and the Intercreditor Deed, and all dealings between a Subordinated Guarantor and the holders and owners of the Guarantor Senior Indebtedness shall be deemed to have been consummated in reliance upon this Article Twelve and the Intercreditor Deed. 112
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Related to Reliance on Subordination

  • No Reliance On Representations Each party hereby represents and warrants that it is not relying, and has not relied upon any representation or statement made by the other party with respect to the facts involved or its rights or duties. Each party understands and agrees that the facts relevant, or believed to be relevant to this Contract, may hereunder turn out to be other than, or different from the facts now known to such party as true, or believed by such party to be true. The parties expressly assume the risk of the facts turning out to be different and agree that this Contract shall be effective in all respects and shall not be subject to rescission by reason of any such difference in facts.

  • Reliance on Representations Purchaser understands that the Securities are being offered and sold to it in reliance on specific exemptions from the registration requirements of the federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities. Purchaser represents and warrants to the Company that any information that Purchaser has heretofore furnished or furnishes herewith to the Company is complete and accurate, and further represents and warrants that it will notify and supply corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s issuance of the Securities. Within five (5) days after receipt of a request from the Company, Purchaser will provide such information and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company is subject.

  • Reliance on Others The Company confirms that it will rely on its own counsel and accountants for legal and accounting advice.

  • Reliance on Documents etc No Agent shall be liable in respect of anything done or suffered by it in reliance on a Note, Certificate, Coupon, Talon or other document or information from any electronic or other source reasonably believed by it to be genuine and to have been signed or otherwise given or disseminated by the proper parties.

  • Reliance on Reports Except as expressly provided herein, nothing herein shall be construed to impose an obligation on the part of the Global Agent to recalculate, evaluate or verify any report, certificate or information received by it from the Issuer or to otherwise monitor the activities of the Issuer.