Common use of Anti-Layering Clause in Contracts

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its Senior Debt and (b) senior in right of the Section 4.9 hereof.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Subsidiary Guarantee.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor’s Subsidiary Guarantee.

Anti-Layering. The Company shall will not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor’s Subsidiary Guarantee.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Subsidiary Guarantor and (b) senior in any respect in right of payment to the Section 4.9 hereofSubsidiary Guarantees.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of that Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to that Guarantor’s Subsidiary Guarantees.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Subsidiary Guarantee.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No ; and no Guaranteeing Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its Senior Debt and (b) senior in any respect in right of the Section 4.9 hereofpayment to its Subsidiary Guarantee.

Anti-Layering. (i) The Company shall not directly or indirectly incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Notes and (ii) no Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its Guarantor Senior Debt and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Subsidiary Guarantee.

Anti-Layering. The Company shall will not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Subsidiary Guarantee.

Anti-Layering. (i) The Company shall not incur, create, issue, assume, guarantee directly or otherwise become liable for indirectly incur any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Notes and (ii) no Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for incur any Indebtedness that is both (a) subordinate subordinated or junior in right of payment to its Senior Debt any Indebtedness of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Subsidiary Guarantee.

Anti-Layering. The Company shall will not incur, issue, assume or otherwise become liable for any Indebtedness that is senior in right of payment to the notes and subordinate in right of payment to any other Indebtedness of the Company and no Guarantor will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) senior in right of payment to the Guarantee by such Guarantor of the notes and subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any other Indebtedness that is both (a) subordinate or junior in right of payment to its Senior Debt and (b) senior in right of the Section 4.9 hereofGuarantor.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its any Senior Debt of such Guarantor; and (b) senior in any respect in right of payment to the Section 4.9 hereofSubsidiary Guarantees.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its any Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Note Guarantee.

Anti-Layering. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt of the Company and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its the Senior Debt of such Guarantor and (b) senior in any respect in right of the Section 4.9 hereofpayment to such Guarantor's Note Guarantee.