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

Applicability of Article; Agreement to Subordinate. The provisions of this Article 10 shall be applicable to the Securities of any series (Securities of such series referred to in this Article 10 as "Subordinated Debt Securities") designated pursuant to Section 2.02 as subordinated to Senior Indebtedness. Notwithstanding any other provision to the contrary in this Indenture, the Company covenants and agrees, and each Holder by accepting a Subordinated Debt Security covenants and agrees, that the principal of (and premium, if any) and interest on the Indebtedness now or hereafter evidenced by the Subordinated Debt Security and this Indenture are subordinated in right of payment, to the extent and in the manner provided in this Article, to the prior payment in full in cash of all existing and future Senior Indebtedness, and that the subordination provisions set forth in this Article are for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness. Each Holder of a Subordinated Debt Security by accepting a Security acknowledges and agrees that the subordination provision set forth in this Article are, and are intended to be, an inducement and consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied upon such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness, and such holder is made an obligee hereunder and may enforce directly such subordination provisions.

Applicability of Article; Agreement to Subordinate. The provisions of this Article 10 XII shall be applicable to the Debt Securities of any series (Debt Securities of such series referred to in this Article 10 XII as "Subordinated Debt Securities") designated designated, pursuant to Section 2.02 2.03, as subordinated to Senior Indebtedness. Notwithstanding any other provision to the contrary in this Indenture, the The Company covenants and agrees, and each Holder by accepting of a Subordinated Debt Security Security, by his acceptance thereof, likewise covenants and agrees, that for the benefit of the holders, from time to time, of Senior Indebtedness, that, to the extent and in the manner hereinafter set forth in this Article XII, the Indebtedness represented by the Subordinated Debt Securities and the payment of the principal of (and premium, if any, on) and interest on the Indebtedness now or hereafter evidenced by on, each and all of the Subordinated Debt Security Securities are hereby expressly made subordinate and this Indenture are subordinated subject in right of payment, to the extent and in the manner payment as provided in this Article, Article XII to the prior payment in full of all Senior Indebtedness, whether outstanding on the date of the issuance of Subordinated Debt Securities of a particular series or thereafter created, incurred, assumed or guaranteed; provided, however, that the Subordinated Debt Securities, the Indebtedness represented thereby and the payment of the principal of (and premium, if any, on) and interest on the Subordinated Debt Securities in cash of all respects shall rank equally with, or prior to, all existing and future unsecured Indebtedness (including, without limitation, Indebtedness hereunder) of the Company that is subordinated to Senior Indebtedness. This Article XII shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and that the subordination such provisions set forth in this Article are made for the benefit of, and shall be enforceable directly by, of the holders of Senior Indebtedness. Each Holder of a Subordinated Debt Security by accepting a Security acknowledges and agrees that the subordination provision set forth in this Article are, and are intended to be, an inducement and consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied upon such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness, and such holder is holders are made an obligee obligees hereunder and any one or more of them may enforce directly such subordination provisions.

Applicability of Article; Agreement to Subordinate. The provisions of this Article 10 shall be applicable to the Securities of any series (Securities of such series referred to in this Article 10 as "Subordinated Debt Securities") designated pursuant to Section 2.02 as subordinated to Senior Indebtedness. Notwithstanding any other provision to the contrary in this Indenture, the Company covenants and agrees, and each Holder by accepting a Subordinated Debt Security covenants and agrees, that the principal of (and premium, if any) and interest on the Indebtedness now or hereafter evidenced by the Subordinated Debt Security and this Indenture are subordinated in right of payment, to the extent and in the manner provided in this Article, to the prior payment in full in cash of all existing and future Senior Indebtedness, and that the subordination provisions set forth in this Article are for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness. Each Holder of a Subordinated Debt Securities authorizes and directs the Trustee on such Holder's behalf to take such action as may be necessary or appropriate, in the sole discretion of the Trustee, to acknowledge or effectuate the subordination between the Holders and the holders of Senior Indebtedness as provided in this Article and appoints the Trustee as such Holder's attorney-in-fact for any and all such purposes, including, in the event of any voluntary or involuntary liquidation or dissolution of the Company, whether total or partial, or in a bankruptcy, reorganization, insolvency, receivership, dissolution, assignment for the benefit of creditors, marshaling of assets or similar proceeding relating to the Company or its property, the timely filing of a claim for the unpaid balance of such Holder's Securities in the form required in said proceeding and cause said claim to be approved. If the Trustee does not file a proper claim or proof of debt in the form required in such proceeding prior to 20 days before the expiration of the time to file such claim or claims, then the Principal Agent is hereby authorized to have the right to file and is hereby authorized to file an appropriate claim for and on behalf of the Holders; provided, however, that any such claim filed by the Principal Agent shall be superseded by the claim, if any, subsequently filed by the Trustee. Each Holder of a Subordinated Debt Security by accepting a Security acknowledges and agrees that the subordination provision set forth in this Article are, and are intended to be, an inducement and consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied upon such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness, and such holder is made an obligee hereunder and may enforce directly such subordination provisions.

Applicability of Article; Agreement to Subordinate. The provisions of this Article 10 shall be applicable to the Securities of any series (Securities of such series referred to in this Article 10 as "Subordinated Debt Securities") designated pursuant to Section 2.02 as subordinated to Senior Indebtedness. Notwithstanding any other provision to the contrary in this Indenture, the Company covenants and agrees, and each Holder by accepting a Subordinated Debt Security covenants and agrees, that the principal of (and premium, if any) and interest on the Indebtedness now or hereafter evidenced by the Subordinated Debt Security and this Indenture are subordinated in right of payment, to the extent and in the manner provided in this Article, to the prior payment in full in cash of all existing and future Senior Indebtedness, and that the subordination provisions set forth in this Article are for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness. Each Holder of a Subordinated Debt Securities authorizes and directs the Trustee on such Holder's behalf to take such action as may be necessary or appropriate, in the sole discretion of the Trustee, to acknowledge or effectuate the subordination between the Holders and the holders of Senior Indebtedness as provided in this Article and appoints the Trustee as such Holder's attorney-in- fact for any and all such purposes, including, in the event of any voluntary or involuntary liquidation or dissolution of the Company, whether total or partial, or in a bankruptcy, reorganization, insolvency, receivership, dissolution, assignment for the benefit of creditors, marshaling of assets or similar proceeding relating to the Company or its property, the timely filing of a claim for the unpaid balance of such Holder's Securities in the form required in said proceeding and cause said claim to be approved. If the Trustee does not file a proper claim or proof of debt in the form required in such proceeding prior to 20 days before the expiration of the time to file such claim or claims, then the Principal Agent is hereby authorized to have the right to file and is hereby authorized to file an appropriate claim for and on behalf of the Holders; provided, however, that any such claim filed by the Principal Agent shall be superseded by the claim, if any, subsequently filed by the Trustee. Each Holder of a Subordinated Debt Security by accepting a Security acknowledges and agrees that the subordination provision set forth in this Article are, and are intended to be, an inducement and consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied upon such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness, and such holder is made an obligee hereunder and may enforce directly such subordination provisions.