Common use of Debentures Subordinate to Senior Indebtedness Clause in Contracts

Debentures Subordinate to Senior Indebtedness. The Issuer for itself, its successors and assigns, covenants and agrees, and each Holder of Debentures issued, whether upon original issue or upon transfer or assignment thereof, by its acceptance thereof, likewise covenants and agrees, that the indebtedness represented by the Debentures and the payment of principal of and interest on each and all of the Debentures is hereby expressly subordinated, to the extent and in the manner set forth in this Article and in Article Thirteen of the Original Indenture, in right of payment to the prior payment in full of all Senior Indebtedness.