Qualified Subordinated Loan

Qualified Subordinated Loan. Shall mean a loan or other financial accommodation (excluding interest paid in kind) extended by any Person to one or more of the Borrowers which is subordinated in right of payment and security to the Obligations pursuant to the terms of a written subordination agreement (substantially equivalent to the Subordination Agreement bearing even date herewith executed by the Investor in favor of the Agent), the proceeds of which loan or other financial accommodation ... have been delivered to the applicable Borrower(s) in the form of cash or cash equivalents. View More