Persons entitled
- First Union National Bank of North Carolina as Administrative Agent for the Lenders
Amount secured
All obligations owed to first union national bank of north carolina as the administrative agent or any lender under the credit agreement or any other loan document (as defined in the credit agreement, and including each of the credit agreement and the agreement and all other documents entered into pursuant to the credit agreement) by any of the intercompany loan parties (the "senior indebtedness")
Short particulars
By clause 1.01 of the agreement the company for itself and its successors has agreed that to the extent it is from time to time entitled to receive payment in respect of any intercompany loan advance or other account from any other intercompany loan party (each an "intercompany note")including without limitation in respect of any intercompany obligation evidenced by the specific intercompany notes (as defined herein) (a "subordinanted obligation") the payment of the principal of premium if any interest on (including all interest accruing thereon subsequent to a bankruptcy event (as defined herein) ("post-peteition interest")) or other fees costs expenses and any other amounts accrued incurred or otherwise due in connection with all such subordinanted obligations from time to time will be subordinated in right of payment to the extent and in the manner provided herein to the payment in full of all senior indebtedness.. See the mortgage charge document for full details.