Common use of Anti-Layering Clause in Contracts

Anti-Layering. Notwithstanding the foregoing, the Borrower will not, and will not permit any 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 Agreement.

Anti-Layering. Notwithstanding the foregoing, the Borrower will not, and will not permit any Restricted 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 Agreement.

Anti-Layering. Notwithstanding anything to the foregoingcontrary contained herein, the Borrower will not, and will not permit any Subsidiary 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 Agreementagreement.