Subordination Absolute Sample Clauses

Subordination Absolute. This is an irrevocable agreement of subordination and the Senior Creditors may, without notice to any of the parties hereto and without impairing or releasing the obligations of the Debtor and the Subordinated Creditor hereunder, (a) create Senior Debt by extending credit under the Credit Agreement; (b) change the terms of or increase the amount of the Senior Debt by increasing, extending, rearranging, amending, supplementing, or otherwise modifying any of the Loan Documents or other instruments or agreements creating Senior Debt; (c) sell, exchange, release, or otherwise deal with any collateral securing any Senior Debt; (d) release anyone, including the Debtor or any guarantor, liable in any manner for the payment or collection of any Senior Debt; (e) exercise or refrain from exercising any rights against the Debtor or any other Person; and (f) apply any sums received by any of the Senior Creditors, from whatever source, to the payment of the Senior Debt.

Subordination Absolute. This is an irrevocable agreement of subordination and the Senior Creditors may, without notice to any Person and without impairing or releasing the obligations of the Debtors or the Holders of the Subordinated Obligations; (a) create Senior Obligations by entering into ▇▇▇▇▇▇ or otherwise; (b) change the terms of or increase the amount of the Senior Obligations by extending, rearranging, amending, supplementing or otherwise modifying any of the Credit Documents or any Senior Obligations; (c) sell, exchange, release, or otherwise deal with any letter of credit or any collateral securing any Senior Obligations; (d) release any Person, including, without limitation, any Debtor or any guarantor, liable in any manner for the payment or collection of any Senior Obligations; (e) exercise or refrain from exercising any rights against any Debtor or any other Person; and (f) apply any sums received from whatever source, to the payment of the Senior Obligations, in any order. The liability of each Holder of Subordinated Obligations under this Subordination Agreement shall be absolute and unconditional irrespective of: (a) The lack of validity or unenforceability of the Senior Obligations or any Credit Document for any reason whatsoever, including that the act of creating the Senior Obligations is ultra ▇▇▇▇▇, that the officers or representatives executing the documents creating the Senior Obligations exceeded their authority, that the Senior Obligations violate usury or other laws, or that any Person has defenses to the payment of the Senior Obligations, including breach of warranty, statute of frauds, bankruptcy, statute of limitations, lender liability, or accord and satisfaction; (b) Any change in the time, manner, or place of payment of, or in any term of, any of the Senior Obligations, any increase, reduction, extension, or rearrangement of the Senior Obligations, any amendment, supplement, or other modification of the Credit Documents, or any waiver or consent granted under the Credit Documents, including waivers of the payment and performance of the Senor Obligations; (c) Any release, exchange, subordination, waste, or other impairment (including negligent, willful, unreasonable, or unjustifiable impairment) of any collateral securing payment of the Senior Obligations; the failure of any Agent, any Bank or any other Person to exercise diligence or reasonable care in the preservation, protection, enforcement, sale, or other handling of any collateral; the fact ...

Subordination Absolute. This is an irrevocable agreement of subordination and the Agent or any other Senior Creditor, as applicable, may, in accordance with the terms of the Loan Documents, and without notice to any of the parties hereto and without impairing or releasing the obligations of the Debtor and the Subordinated Creditor hereunder, (a) create Senior Debt by extending credit under the terms of the Credit Agreement or by extending other credit to the Subordinated Creditor or Debtor; (b) change the terms of or increase the amount of the Senior Debt by extending, rearranging, amending, supplementing, or otherwise modifying any of the Loan Documents or other agreements creating Senior Debt; (c) sell, exchange, release, or otherwise deal with any collateral securing any Senior Debt; (d) release anyone, including the Subordinated Creditor, Debtor, or any guarantor, liable in any manner for the payment or collection of any Senior Debt; (e) exercise or refrain from exercising any rights against the Debtor or any other Person; and (f) apply any sums received by any Senior Creditor, from whatever source, to the payment of the Senior Debt, according to the terms of the Credit Agreement.

Subordination Absolute. Neither the subordination provided for herein nor the rights of Lender hereunder shall be affected, modified or impaired by (a) any extension, renewal, modification, restatement, forbearance or waiver of any terms of any other instrument or document executed in connection herewith nor (b) any release, modification or substitution of any collateral therefor.

Subordination Absolute. Neither the subordination provided for herein nor the rights of Bank hereunder shall be affected, modified or impaired by (a) any extension, renewal, modification, restatement, forbearance or waiver of any terms of any Bank Security Documents or any other instrument or document executed in connection herewith nor (b) any release, modification or substitution of any collateral therefor.

Subordination Absolute. Subject to the terms hereof, each of the Junior Lenders and the Junior Subordinated Lender covenants and agrees that its subordinations and other covenants and agreements under this Agreement: (a) shall be absolute and unconditional irrespective of the validity, legality, binding effect or enforceability of any of the terms and provisions of the Senior Loan Instruments; (b) shall survive the execution and delivery of this Agreement, as well as the Senior Loan Instruments, Junior Loan Instruments and Junior Subordinated Loan Instruments, and shall be continuing in nature, whether the Senior Obligations, Junior Obligations or Junior Subordinated Obligations are now or hereafter existing, acquired or created, and irrespective of the fact that from time to time under those terms and provisions monies can be advanced, repaid and readvanced and the outstanding balances may be zero; (c) shall remain and continue in full force and effect without regard i) to any waiver, consent, supplement, modification, amendment or restatement of any term or provision of the Senior Loan Instruments, Junior Loan Instruments or Junior Subordinated Loan Instruments; ii) to any full, partial or non-exercise of any of the Senior Lender's rights, powers, privileges, remedies and interests under any Senior Loan Instrument or applicable law, against any person or with respect to any collateral, which exercise or enforcement may be delayed, discontinued or otherwise not pursued or exhausted for any or no reason whatsoever, or which may be waived, omitted or otherwise not exercised or enforced (whether intentionally or otherwise); iii) to any surrender, repossession, sequestration, foreclosure, conveyance or assignment (by deed in lieu or otherwise), sale, lease or other realization, dealing or disposition respecting any collateral; iv) to any release, subordination or impairment of all or any part of any obligations or collateral or any security interest therein (whether intentionally or otherwise); v) to any extension, stay, moratorium or statute of limitations or similar time constraint under any applicable law; vi) to any act or omission on the part of the Senior Lender or any other person; or vii) to any other event that might otherwise constitute a legal or equitable counterclaim, defense or discharge of a subordinated party or surety; (d) shall not be diminished or qualified by the death, disability, dissolution, reorganization, insolvency, bankruptcy, custodianship or receivership...

Subordination Absolute. The parties hereto covenant and agree that their subordinations and other covenants and agreements under this Agreement shall: (i) be absolute and unconditional, irrespective of the validity, legality, binding effect or enforceability of any terms and provisions of the Notes or the Security Agreements; and (ii) remain and continue in full force and effect without regard to any waiver of any term or provision of the Notes and Security Agreements. In the event of a conflict between the terms of this Agreement and the Notes or the Security Agreements, the terms of this Agreement shall govern.

Subordination Absolute. The subordination of the Junior Obligations to the Senior Obligations effected by this Subordination Agreement shall be absolute and the Bank may from time to time, without the consent of or notice to the Junior Creditor and without affecting the subordination of the Junior Obligations to the Senior Obligations: (i) obtain a security interest in any property to secure any of the Senior Obligations; (ii) obtain the primary or secondary liability of any party or parties in addition to the Company with respect to any of the Senior Obligations; (iii) extend or renew any of the Senior Obligations for any period beyond their original due dates; (iv) release or compromise any liability of any other party or parties primarily or secondarily liable with respect to any of the Senior Obligations; (v) release any security interest that the Bank might now have or hereafter obtain in any property securing any of the Senior Obligations and permit any substitution or exchange of any such property; (vi) extend loans and other credit accommodations to the Company in addition to the Revolving Loan and the Term Loans and increase the maximum amount which may be loaned to the Company under the Revolving Loan; provided, that nothing contained in this Agreement shall be construed so as to require the Bank to apply the proceeds of collateral or guaranties held for both the Senior Obligations and other obligations of the Company which are not entitled to the benefit of this Agreement in any particular order.

Subordination Absolute