Common use of Anti-Layering Clause in Contracts

Anti-Layering. The Issuers shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt of either of the Issuers and 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 subordinate or junior in right of payment to any Senior Debt of such Subsidiary Guarantor and senior in any respect in right of payment to such Subsidiary Guarantor's Guarantee.

Anti-Layering. The Issuers 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 either of the Issuers and (b) senior in any respect in right of payment to the Senior Subordinated 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 any its Senior Debt of such Subsidiary Guarantor and (b) senior in any respect in right of payment to such Subsidiary Guarantor's its Note Guarantee.

Anti-Layering. The Issuers shall Issuer will not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt of either of the Issuers Issuer and 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 subordinate or junior in right of payment to any the Senior Debt of such Subsidiary Guarantor and senior in any respect in right of payment to such Subsidiary Guarantor's ’s Guarantee.

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

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