Subordination Clause Example with 9 Variations from Business Contracts
This page contains Subordination clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Subordination. Any Indebtedness of any of the Borrowers now or hereafter held by Guarantor is hereby subordinated to the Indebtedness of Borrowers to Bank. Such Indebtedness of Borrowers to Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, if Bank requests, shall be collected and received by Guarantor as trustee for Bank and paid over to Bank on account of the Indebtedness of Borrowers to Bank but without reducing or affecting in any manner the liability of Guarantor under t...he other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder.View More
Variations of a "Subordination" Clause from Business Contracts
Subordination. Any Indebtedness of any of the Borrowers now or hereafter held Guarantor subordinates all present and future indebtedness owing by Borrower to Guarantor is hereby subordinated to the Indebtedness of Borrowers obligations at any time owing by Borrower to Bank. Such Indebtedness of Borrowers Lender under the Note and the other Loan Documents. Guarantor assigns all such indebtedness to Guarantor is assigned to Bank Lender as security for this Guaranty Guaranty, the Note and the Indebtedness and, if... Bank other Loan Documents. Guarantor agrees to make no claim for such indebtedness until all obligations of Borrower under the Note and the other Loan Documents have been fully discharged. Guarantor further agrees not to assign all or any part of such indebtedness unless Lender is given prior notice and such assignment is expressly made subject to the terms of this Guaranty. If Lender so requests, (a) all instruments evidencing such indebtedness shall be duly endorsed and delivered to Lender, (b) all security for such indebtedness shall be duly assigned and delivered to Lender, (c) such indebtedness shall be enforced, collected and received held by Guarantor as trustee for Bank Lender and shall be paid over to Bank Lender on account of the Indebtedness of Borrowers to Bank Loan but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers to Guaranty, and (d) Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to execute, file financing statements and continuation statements record such documents and execute such other documents instruments and take such other action as Bank Lender deems necessary or appropriate to perfect, preserve and enforce its Lender's rights hereunder. in and to such indebtedness and any security therefor. If Guarantor fails to take any such action, Lender, as attorney-in-fact for Guarantor, is hereby authorized to do so in the name of Guarantor. The foregoing power of attorney is coupled with an interest and cannot be revoked, but shall automatically terminate upon the satisfaction of Borrower's obligations under the Loan Documents. View More
Subordination. Any Indebtedness of any of the Borrowers now or hereafter held Guarantor subordinates all present and future indebtedness owing by Borrower to Guarantor is hereby subordinated to the Indebtedness of Borrowers obligations at any time owing by Borrower to Bank. Such Indebtedness of Borrowers Lender under the Note and the other Loan Documents. Guarantor assigns all such indebtedness to Guarantor is assigned to Bank Lender as security for this Guaranty Guaranty, the Note and the Indebtedness and, if... Bank other Loan Documents. Guarantor agrees to make no claim for such indebtedness until all obligations of Borrower under the Note and the other Loan Documents have been fully discharged. Guarantor further agrees not to assign all or any part of such indebtedness unless Lender is given prior notice and such assignment is expressly made subject to the terms of this Guaranty. If Lender so requests, (a) all instruments evidencing such indebtedness shall be duly endorsed and delivered to Lender, (b) all security for such indebtedness shall be duly assigned and delivered to Lender, (c) such indebtedness shall be enforced, collected and received held by Guarantor as trustee for Bank Lender and shall be paid over to Bank Lender on account of the Indebtedness of Borrowers to Bank Loan but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers to Guaranty, and (d) Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to execute, file financing statements and continuation statements record such documents and execute such other documents instruments and take such other action as Bank Lender deems necessary or appropriate to perfect, preserve and enforce its Lender's rights hereunder. in and to such indebtedness and any security therefor. If Guarantor fails to take any such action, Lender, as attorney-in-fact for Guarantor, is hereby authorized to do so in the name of Guarantor. The foregoing power of attorney is coupled with an interest and cannot be revoked. View More
Subordination. Any Indebtedness of any indebtedness of the Borrowers Borrower now or hereafter held by any Guarantor is hereby subordinated to the Indebtedness of Borrowers Borrower to Bank. Lender. Such Indebtedness of Borrowers to Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, indebtedness, if Bank Lender requests, shall be collected and received by such Guarantor as trustee for Bank Lender and paid over to Bank Lender on account of the Indebtedness of Borrowers Borrowe...r to Bank Lender but without reducing or affecting in any manner the liability of any Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder.View More
Subordination. Any Indebtedness indebtedness of Borrower or any of the Borrowers other Loan Party now or hereafter held by Guarantor is hereby subordinated to the Indebtedness Indebtedness. Such indebtedness of Borrowers to Bank. Such Indebtedness of Borrowers Borrower or any other Loan Party to Guarantor is assigned to Bank Agent, on behalf of Lenders, as security for this Guaranty and the Indebtedness and, if Bank Agent requests, shall be collected and received by Guarantor as trustee for Bank Agent, on beha...lf of Lenders, and paid over to Bank Agent, on behalf of Lenders, on account of the Indebtedness of Borrowers to Bank but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness indebtedness of Borrower or any of the Borrowers other Loan Party to Guarantor shall be marked with a legend that indicates that the same notes or other instruments are subject to this Guaranty and, if Bank Agent so requests, such notes and instruments shall be delivered to Bank. Bank Agent. Agent, on behalf of Lenders, is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank Agent deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
Subordination. Any Indebtedness of any of the Borrowers Borrower now or hereafter held by Guarantor is hereby subordinated to the Indebtedness obligations of Borrowers Borrower to Bank. Lender under the Note Indebtedness. Such Indebtedness of Borrowers Borrower to Guarantor is assigned to Bank Lender as security for this Guaranty and the Note Indebtedness and, if Bank Lender requests, shall be collected and received by Guarantor as trustee for Bank Lender and paid over to Bank Lender on account of the Note Ind...ebtedness of Borrowers to Bank but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank Lender so requests, shall be delivered to Bank. Bank Lender. Lender is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank Lender deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
Subordination. Any Indebtedness of any of the Borrowers Borrower now or hereafter held by Guarantor is hereby subordinated to the Indebtedness of Borrowers Borrower to Bank. For purposes of this Section 7, "Indebtedness" shall not include Borrower's obligations owed to Guarantor related to regularly scheduled lease or rental obligations to its shareholders pursuant to bona fide written leases (copies of which have been provided to Bank), ordinary compensation to its shareholders (which compensation does not co...nstitute indebtedness), share issuances to its shareholders, post-closing adjustments to the purchase price owed to Western State Design, Inc. under that certain asset purchase agreement entered into by Borrower, Western State Design, Inc., and certain other parties thereto, and buyer and seller indemnifications under said asset purchase agreement. Such Indebtedness of Borrowers Borrower to Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, if Bank requests, shall be collected and received by Guarantor as trustee for Bank and paid over to Bank on account of the Indebtedness of Borrowers Borrower to Bank but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
Subordination. Any Indebtedness of any of the Borrowers Borrower now or hereafter held by Guarantor is hereby subordinated to the Indebtedness of Borrowers Borrower to Bank. For purposes of this Section 7, "Indebtedness" shall not include Borrower's obligations owed to Guarantor related to regularly scheduled lease or rental obligations to its shareholders pursuant to bona fide written leases (copies of which have been provided to Bank), ordinary compensation to its shareholders (which compensation does not co...nstitute indebtedness), share issuances to its shareholders, post-closing adjustments to the purchase price owed to Guarantor under that certain asset purchase agreement entered into by Borrower, Guarantor and certain other parties thereto, and buyer and seller indemnifications under said asset purchase agreement. Such Indebtedness of Borrowers Borrower to Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, if Bank requests, shall be collected and received by Guarantor as trustee for Bank and paid over to Bank on account of the Indebtedness of Borrowers Borrower to Bank but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
Subordination. Any Indebtedness of any of the Borrowers now or hereafter held by Guarantor is hereby subordinated to the Indebtedness of Borrowers to Bank. Such Indebtedness of Borrowers to Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, if Bank requests, shall be collected and received by Guarantor as trustee for Bank and paid over to Bank on account of the Indebtedness of Borrowers to Bank but without reducing or affecting in any manner the liability of Guarantor under t...he other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers to Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
Subordination. Any Indebtedness of any of the Borrowers or any Guarantor now or hereafter held by any other Guarantor is hereby subordinated to the Indebtedness of Borrowers and such other Guarantor to Bank. Such Indebtedness of Borrowers or Guarantors to any other Guarantor is assigned to Bank as security for this Guaranty and the Indebtedness and, if Bank requests, shall be collected and received by such other Guarantor as trustee for Bank and paid over to Bank on account of the Indebtedness of Borrowers or ...Guarantors to Bank but without reducing or affecting in any manner the liability of any Guarantor under the other provisions of this Guaranty. Any notes or other instruments now or hereafter evidencing such Indebtedness of any of the Borrowers or Guarantors to any other Guarantor shall be marked with a legend that the same are subject to this Guaranty and, if Bank so requests, shall be delivered to Bank. Bank is hereby authorized in the name of each Guarantor from time to time to file financing statements and continuation statements and execute such other documents and take such other action as Bank deems necessary or appropriate to perfect, preserve and enforce its rights hereunder. View More
