Common use of Anti-Layering Clause in Contracts

Anti-Layering. Notwithstanding anything to the contrary contained herein, Borrower will not, and will not permit any Restricted Company to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreement.

Anti-Layering. Notwithstanding anything to the contrary contained hereinforegoing, the Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreementAgreement.

Anti-Layering. Notwithstanding anything to the contrary contained hereinforegoing, the Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreementAgreement.

Anti-Layering. Notwithstanding anything to the contrary contained hereinforegoing, the Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving First Lien Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreementAgreement on terms reasonably acceptable to the Administrative Agent and the Required Lenders.

Anti-Layering. Notwithstanding anything to the contrary contained herein, The Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreementAgreement.

Anti-Layering. Notwithstanding anything to the contrary contained herein, The Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is pari passu or expressly subordinated in right of payment to the obligations under this agreementAgreement.

Anti-Layering. Notwithstanding anything to the contrary contained herein, neither Borrower will, and neither Borrower will not, and will not permit any Restricted Company Subsidiary to, incur, create, assume or suffer to exist any Debt if such Debt is subordinate or junior in ranking in right of payment to the Senior Revolving Credit Agreement, unless such Debt is expressly subordinated in right of payment to the obligations under this agreementAgreement.