Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article shall apply only to the Securities of any series which, pursuant to Section , are expressly made subject to this Article. Such Securities are referred to in this Article as “Subordinated Securities.” (b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 14 contracts
Samples: Revolving Credit Agreement (Consumers Energy Co), Revolving Credit Agreement (Consumers Energy Co), Term Loan Credit Agreement (CMS Energy Corp)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article ____ shall apply only to the Securities of any series which, pursuant to Section ___, are expressly made subject to this Article. Such Securities are referred to in this Article ____ as “"Subordinated Securities.”"
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 7 contracts
Samples: Credit Agreement (CMS Energy Corp), Credit Agreement (CMS Energy Corp), 364 Day Credit Agreement (Consumers Energy Co)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article ____ shall apply only to the Securities of any series which, pursuant to Section ___, are expressly made subject to this Article. Such Securities are referred to in this Article ____ as “Subordinated Securities.”
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 6 contracts
Samples: Term Loan Credit Agreement (Consumers Energy Co), Term Loan Credit Agreement (CMS Energy Corp), Revolving Credit Agreement (Consumers Energy Co)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article Twelve shall apply only to the Securities of any series which, pursuant to Section 2.3, are expressly made subject to this Article. Such Securities are referred to in this Article Twelve as “"Subordinated Securities.”"
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 5 contracts
Samples: Indenture (CMS Energy Corp), Indenture (CMS Energy Corp), Indenture (Consumers Power Co Financing I)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article ___ shall apply only to the Securities of any series which, pursuant to Section ___, are expressly made subject to this Article. Such Securities are referred to in this Article ___ as “Subordinated Securities.”
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 1 contract
Samples: Credit Agreement (CMS Energy Corp)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article __ shall apply only to the Securities of any series which, pursuant to Section __, are expressly made subject to this Article. Such Securities are referred to in this Article __ as “"Subordinated Securities.”"
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 1 contract
Samples: Term Loan Agreement (Panhandle Eastern Pipe Line Co)
Applicability of Article; Securities Subordinated to Senior Indebtedness. (a) This Article Twelve shall apply only to the Securities of any series which, pursuant to Section 2.3, are expressly made subject to this Article. Such Securities are referred to in this Article as “Subordinated Securities.”Such
(b) The Issuer covenants and agrees, and each Holder of Subordinated Securities by his acceptance thereof likewise covenants and agrees, that the indebtedness represented by the Subordinated Securities and the payment of the principal principal, premium and interest, if any, on the Subordinated Securities is subordinated and subject in right, to the extent and in the manner provided in this Article, to the prior payment in full of all Senior Indebtedness.
Appears in 1 contract
