Junior Lienor's Consent and Subordination Agreement between Communications & Power Industries, Inc. and Communications & Power Industries Holding Corporation (Loan No. 1440)

Summary

This agreement is between Communications & Power Industries, Inc. (the Junior Lienor) and Communications & Power Industries Holding Corporation. The Junior Lienor agrees that its security interest in a property remains subordinate to the lien of a Deed of Trust, as modified by a recent Modification Agreement. The Junior Lienor consents to the terms of the Modification Agreement and reaffirms that its interest is junior to the primary lender's claim. This ensures the primary lender's rights take precedence over the Junior Lienor's interest in the property.

EX-10.14.1 6 f83380exv10w14w1.txt EXHIBIT 10.14.1 EXHIBIT 10.14.1 Loan No. 1440 JUNIOR LIENOR'S CONSENT AND SUBORDINATION AGREEMENT NOTICE: THIS JUNIOR LIENOR CONSENT AND SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY REMAINING SUBJECT TO AND OF A LOWER PRIORITY THAN THE LIEN OF THE DEED OF TRUST AS MODIFIED BY THE FOREGOING MODIFICATION AGREEMENT. The undersigned ("Junior Lienor"), as owner and holder of a security interest ("Junior Security Interest") evidenced by that certain unrecorded Lease, which is junior, subordinate and subject to the terms, covenants, conditions and restrictions of the Deed of Trust, as modified by the foregoing Modification Agreement, hereby acknowledges its consent to the terms and provisions of the foregoing Modification Agreement and the transactions contemplated thereby. The undersigned further reaffirms the full force and effectiveness of that certain Subordination Agreement, dated December 22, 2000, between the undersigned and Communications & Power Industries Holding Corporation, a Delaware corporation and acknowledges that the Junior Security Interest is junior, subordinate and subject to the Deed of Trust, as modified by the foregoing Modification Agreement. NOTICE: THE LOAN DOCUMENTS MAY CONTAIN A PROVISION WHICH MAY ALLOW THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO EXPEND A PORTION OF THE LOAN FOR OTHER PURPOSES THAN IMPROVEMENT OF THE PROPERTY. Agreed and Acknowledged: Dated as of: June 1, 2002 "JUNIOR LIENOR" COMMUNICATIONS & POWER INDUSTRIES, INC., a Delaware corporation By: -------------------------------- Its: -------------------------------