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Common use of Subordinated Liabilities Clause in Contracts

Subordinated Liabilities. Borrower makes any payment on account of Subordinated Liabilities, except to the extent the payment is allowed under any subordination agreement entered into with the Banks.

Appears in 5 contracts

Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc), Loan and Security Agreement (Portfolio Recovery Associates Inc), Loan and Security Agreement (Portfolio Recovery Associates Inc)

Related Clauses

  • Indebtedness and Liabilities
  • Intercompany Indebtedness
  • Subordination of Intercompany Indebtedness
  • Company Indebtedness
  • Litigation and Contingent Liabilities

Parent Clauses

  • NEGATIVE COVENANTS OF BORROWER
  • NEGATIVE COVENANTS
  • EVENTS OF DEFAULT
  • Definitions
  • Subordination

Sub-Clauses

  • Payment obligations continue
  • Permitted Payments
  • Restriction on Payment
  • Restriction on Enforcement
  • Security
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