Common use of Subordination of Remedies Clause in Contracts

Subordination of Remedies. Until all of the Senior Debt shall have been Paid in Full, upon the occurrence and during the continuance of any Event of Default, no Obligor shall, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such Obligor; (b) exercise any rights under or with respect to any guaranty of any of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor to any other Obligor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than the Agent) in commencing, any Insolvency Proceeding against any other Obligor.

Subordination of Remedies. Until all of the As long as any Senior Debt shall have been Paid in Fullremain outstanding and unpaid, upon following the occurrence and during the continuance of any Event of DefaultDefault and until such Event of Default is cured or waived, no Obligor Debtor shall, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor Debtor owing to such ObligorDebtor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor Debtor to any other Obligor Debtor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than the Agent) Agent or any Lender in commencing, any Insolvency Proceeding bankruptcy, insolvency, or receivership proceeding against any the other ObligorDebtor.

Subordination of Remedies. Until all of the As long as any Senior Debt shall have been Paid in Fullremain outstanding and unpaid, upon following the occurrence and during the continuance of any Event of DefaultDefault and until such Event of Default is cured or waived, no each Obligor shallshall not, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such Obligor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor to any other Obligor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than the Agent) Agent on behalf thereof in commencing, any Insolvency Proceeding bankruptcy, insolvency, or receivership proceeding against any the other Obligor.

Subordination of Remedies. Until all of the As long as any Senior Debt shall have been Paid in Fullremain outstanding and unpaid, upon following the occurrence and during the continuance of any Event of Default, no each Obligor shallshall not, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such Obligor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor to any other Obligor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than the Agent) Lender Group and the Bank Product Providers, or Agent on behalf thereof, in commencing, any Insolvency Proceeding bankruptcy, insolvency, or receivership proceeding against any other Obligor.

Subordination of Remedies. Until all the Discharge of the Senior Debt shall have been Paid in FullDebt, upon following the occurrence and during the continuance of any Event of DefaultDefault and until such Event of Default is cured or waived, no Obligor shalleach Creditor shall not, without the prior written consent of the Agent: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such ObligorCreditor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such any Obligor to any other Obligor such Creditor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than Agent and the Agent) Lenders in commencing, any Insolvency Proceeding bankruptcy, insolvency, or receivership proceeding against the any other Obligor.

Subordination of Remedies. Until all the Discharge of the Senior Debt shall have been Paid in FullDebt, upon following the occurrence and during the continuance of any Event of DefaultDefault and until such Event of Default is cured or waived, no Obligor shalleach Creditor shall not, without the prior written consent of the AgentPurchaser: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such ObligorCreditor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such any Obligor to any other Obligor such Creditor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than the Agent) Purchaser in commencing, any Insolvency Proceeding bankruptcy, insolvency, or receivership proceeding against any other Obligor.

Subordination of Remedies. Until all of the As long as any Senior Debt shall have been Paid in Fullremain outstanding and unpaid, upon following the occurrence and during the continuance of any Event of Default, no each Obligor shallshall not, without the prior written consent of the AgentLender: (a) accelerate, make demand, or otherwise make due and payable prior to the original due date thereof any Subordinated Debt or bring suit or institute any other actions or proceedings to enforce its rights or interests in respect of the obligations of any other Obligor owing to such Obligor; (b) exercise any rights under or with respect to any guaranty of any guaranties of the Subordinated Debt, if any; (c) exercise any rights to set-offs and counterclaims in respect of any indebtedness, liabilities, or obligations of such Obligor to any other Obligor against any of the Subordinated Debt; or (d) commence, or cause to be commenced, or join with any creditor (other than Lender and the Agent) Bank Product Providers in commencingcommencing any bankruptcy, any Insolvency Proceeding insolvency, or receivership proceeding against any the other Obligor.