Common use of Applicability of Article; Agreement to Subordinate Clause in Contracts

Applicability of Article; Agreement to Subordinate. In the event a series of Securities is designated as subordinated pursuant to Section 3.01 (“Subordinated Securities”) and except as otherwise provided in a supplemental indenture or pursuant to Section 3.01, the Company, for itself, its successors and assigns, covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any) and interest, if any, on each and all of the Subordinated Securities is hereby expressly subordinated, to the extent and in the manner set forth in this Article, in right of payment to the prior payment in full of all Senior Indebtedness.

Applicability of Article; Agreement to Subordinate. In the event a series of Securities is designated as subordinated pursuant to Section 3.01 (“"Subordinated Securities”") and except as otherwise provided in a supplemental indenture or pursuant to Section 3.01, the Company, for itself, its successors and assigns, covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any) and interest, if any, on each and all of the Subordinated Securities is hereby expressly subordinated, to the extent and in the manner set forth in this Article, in right of payment to the prior payment in full of all Senior Indebtedness.