Common use of Certain Restrictions on Liquidation Payments Clause in Contracts

Certain Restrictions on Liquidation Payments. In the event of any voluntary or involuntary dissolution of the Company, the board of directors will distribute (after satisfying any liabilities to the Company's creditors as provided by applicable law) to the holders of the Company Securities a Like Amount of the Subordinated Notes. However, if that distribution is determined to be impractical by the Board of Directors, the holders of the Company Securities will be entitled to receive out of the Company's assets available for distribution to holders (after any liabilities to the Company's creditors as provided by applicable 35 41 law) a liquidation distribution in an amount equal to the amounts set forth, and in the priority prescribed, in Section 7.3(d). If such liquidation distribution to the Company Preferred Securityholders can be paid only in part because the Company has insufficient assets available to pay in full the aggregate liquidation distribution, then the amounts payable directly by the Company on its Company Preferred Securities will be paid on a pro rata basis based on the Liquidation Amount.

Certain Restrictions on Liquidation Payments. In the event of any voluntary or involuntary dissolution of the Company, the board of directors will distribute (after satisfying any liabilities to the Company's creditors as provided by applicable law) to the holders of the Company Securities a Like Amount of the Subordinated Notes. However, if that distribution is determined to be impractical by the Board of Directors, the holders of the Company Securities will be entitled to receive out of the Company's assets available for distribution to holders (after any liabilities to the Company's creditors as provided by applicable 35 41 law) a liquidation distribution in an amount equal to the amounts set forth, and in the priority prescribed, in Section 7.3(d). If such liquidation distribution to the Company Preferred Securityholders can be paid only in part because the Company has insufficient assets available to pay in full the aggregate liquidation distribution, then the amounts payable directly by the Company on its Company Preferred Securities will be paid on a pro rata basis based on the Liquidation Amount.