Common use of Class B and Class C Notes Clause in Contracts

Class B and Class C Notes. The Corporation may at any time issue a series of Notes pursuant to Section 3.2 hereof which is subordinate in rights to the Senior Obligations. Such subordinate obligations shall either be on a parity with the Subordinate Obligations in all respects or may be subordinate to the Subordinate Obligations in respect of each of the provisions of this Indenture which express the subordination of the Subordinate Obligations. ARTICLE FOUR

Appears in 3 contracts

Samples: Indenture of Trust (Education Loans Inc /De), Indenture of Trust (Education Loans Inc /De), Indenture of Trust (Education Loans Inc /De)

AutoNDA by SimpleDocs

Class B and Class C Notes. The Corporation may at any time issue a series of Notes pursuant to Section 3.2 hereof which is subordinate in rights to the Senior Obligations. Such subordinate obligations shall either be on a parity with the Subordinate Obligations in all respects or may be subordinate to the Subordinate Obligations in respect of each of the provisions of this Indenture which express the subordination of the Subordinate Obligations. ARTICLE FOUR.

Appears in 2 contracts

Samples: Indenture of Trust (Education Loans Inc /De), Indenture of Trust (Education Loans Inc /De)

AutoNDA by SimpleDocs

Class B and Class C Notes. The Corporation may at any time ------------------------- issue a series of Notes pursuant to Section 3.2 hereof which is subordinate in rights to the Senior Obligations. Such subordinate obligations shall either be on a parity with the Subordinate Obligations in all respects or may be subordinate to the Subordinate Obligations in respect of each of the provisions of this Indenture which express the subordination of the Subordinate Obligations. ARTICLE FOUR.

Appears in 1 contract

Samples: Indenture of Trust (Education Loans Inc /De)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!