Common use of Guarantee Obligations Subordinated to Guarantor Senior Debt Clause in Contracts

Guarantee Obligations Subordinated to Guarantor Senior Debt. Anything herein to the contrary notwithstanding, each of the Guarantors, for itself and its successors, and each Holder, by his or her acceptance of Guarantees, agrees that the payment of all Obligations owing to the Holders in respect of its Guarantee is subordinated, to the extent and in the manner provided in this Article Twelve, to the prior payment in full in cash or Cash Equivalents, or such payment duly provided for to the satisfaction of the holders of Guarantor Senior Debt, of all Obligations on Guarantor Senior Debt of such Guarantor (including the Obligations with respect to the Credit Agreement, whether outstanding on the Issue Date or thereafter incurred). Notwithstanding the foregoing, payments and distributions made relating to the Securities from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as (i) the conditions specified in Article Eight (without any waiver or modification of the requirement that the deposits pursuant thereto do not conflict with the terms of the Credit Agreement or any other Senior Debt or Guarantor Senior Debt) are satisfied on the date of any deposit pursuant to said trust and (ii) such payments and distributions did not violate the provisions of Article Ten or this Article Twelve. This Article Twelve shall constitute a continuing offer to all Persons who become holders of, or continue to hold, Guarantor Senior Debt, and such provisions are made for the benefit of the holders of Guarantor Senior Debt and such holders are made obligees hereunder and any one or more of them may enforce such provisions.

Guarantee Obligations Subordinated to Guarantor Senior Debt. Anything herein Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Guarantees shall be issued subject to the contrary notwithstanding, each provisions of this Article 12; and the Guarantors, for itself and its successors, Trustee and each HolderPerson holding any Guarantee, by his whether upon original issue or her acceptance of Guaranteesupon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations owing on the Securities pursuant to the Holders in respect Guarantees (except for the payment of its Guarantee is subordinatedfees and expenses of the Trustee under Section 7.07) made by or on behalf of such Guarantor shall, to the extent and in the manner provided herein set forth, be subordinated and junior in this Article Twelve, right of payment to the prior payment in full in cash or Cash Equivalents, Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Guarantor Senior Debt, Debt of any Guarantor) of all existing and future Obligations on the Guarantor Senior Debt of such Guarantor (including the Obligations with respect to the Credit Agreement, whether outstanding on the Issue Date or thereafter incurred). Notwithstanding the foregoing, payments and distributions made relating to the Securities from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as (i) the conditions specified in Article Eight (without any waiver or modification of the requirement Guarantor; that the deposits pursuant thereto do not conflict with subordination is for the terms benefit of, and shall be enforceable directly by the holders of the Credit Agreement or any other Guarantor Senior Debt or of any Guarantor and that each holder of Guarantor Senior Debt) are satisfied on the date Debt of any deposit pursuant Guarantor whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to said trust have acquired Guarantor Senior Debt of any Guarantor in reliance upon the covenants and (ii) such payments provisions contained in this Indenture and distributions did not violate the provisions Guarantees. This Section 12.08 and the following Sections 12.09 through 12.22 of Article Ten or this Article Twelve. This Article Twelve 12 shall constitute a continuing offer to all Persons who who, in reliance upon such provisions, become holders of, or continue to hold, Guarantor Senior Debt of any Guarantor and, to the extent set forth in this Section 12.09, holders of Designated Guarantor Senior Debt, ; and such provisions are made for the benefit of the holders of Guarantor Senior Debt of each Guarantor and, to the extent set forth in Section 12.09, holders of Designated Guarantor Senior Debt; and such holders (to such extent) are made obligees hereunder and any one they or more each of them may enforce such provisions.

Guarantee Obligations Subordinated to Guarantor Senior Debt. Anything herein Each Guarantor covenants and agrees and the Trustee and each Holder of the Notes, by its acceptance thereof, likewise covenants and agrees, that all Guarantees shall be issued subject to the contrary notwithstanding, each provisions of this Article Twelve; and the Guarantors, for itself and its successors, Trustee and each HolderPerson holding any Guarantee, by his whether upon original issue or her acceptance of Guaranteesupon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations owing on the Notes pursuant to the Holders in respect Guarantees made by or on behalf of its Guarantee is subordinatedany Guarantor shall, to the extent and in the manner provided herein set forth, be subordinated and junior in this Article Twelve, right of payment to the prior payment in full in cash or Cash Equivalents, Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Guarantor Senior Debt, Debt of such Guarantor) of all existing and future Obligations on the Guarantor Senior Debt of such Guarantor; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Guarantor Senior Debt of such Guarantor, and that each holder of Guarantor Senior Debt of such Guarantor (including the Obligations with respect whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to the Credit Agreement, whether outstanding on the Issue Date or thereafter incurred). Notwithstanding the foregoing, payments and distributions made relating to the Securities from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as (i) the conditions specified in Article Eight (without any waiver or modification of the requirement that the deposits pursuant thereto do not conflict with the terms of the Credit Agreement or any other have acquired Guarantor Senior Debt or of such Guarantor Senior Debt) are satisfied on in reliance upon the date of any deposit pursuant to said trust covenants and (ii) such payments provisions contained in this Indenture and distributions did not violate the provisions of Article Ten or this Article TwelveGuarantees. This Section 12.01 and the following Sections 12.02 through 12.15 of this Article Twelve shall constitute a continuing offer to all Persons who who, in reliance upon such provisions, become holders of, or continue to holdhold Guarantor Senior Debt of any Guarantor and, to the extent set forth in Section 12.02, holders of Designated Guarantor Senior Debt, ; and such provisions are made for the benefit of the holders of Guarantor Senior Debt of each Guarantor and, to the extent set forth in 12.02, holders of Designated Guarantor Senior Debt; and such holders (to such extent) are made obligees hereunder and any one they or more each of them may enforce such provisions.

Guarantee Obligations Subordinated to Guarantor Senior Debt. Anything herein Each Guarantor covenants and agrees and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Guarantees shall be issued subject to the contrary notwithstanding, each provisions of this Article Twelve; and the Guarantors, for itself and its successors, Trustee and each HolderPerson holding any Guarantee, by his whether upon original issue or her acceptance of Guaranteesupon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations owing on the Securities pursuant to the Holders in respect Guarantees made by or on behalf of its Guarantee is subordinatedany Guarantor shall, to the extent and in the manner provided herein set forth, be subordinated and junior in this Article Twelve, right of payment to the prior payment in full in cash or Cash Equivalentsof all existing and future Obligations on the Guarantor Senior Debt of such Guarantor; that the subordination is for the benefit of, or such payment duly provided for to the satisfaction of and shall be enforceable directly by, the holders of Guarantor Senior DebtDebt of such Guarantor, and that each holder of all Obligations on Guarantor Senior Debt of such Guarantor (including the Obligations with respect whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to the Credit Agreement, whether outstanding on the Issue Date or thereafter incurred). Notwithstanding the foregoing, payments and distributions made relating to the Securities from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as (i) the conditions specified in Article Eight (without any waiver or modification of the requirement that the deposits pursuant thereto do not conflict with the terms of the Credit Agreement or any other have acquired Guarantor Senior Debt or of such Guarantor Senior Debt) are satisfied on in reliance upon the date of any deposit pursuant to said trust covenants and (ii) such payments provisions contained in this Indenture and distributions did not violate the provisions of Article Ten or this Article TwelveGuarantees. This Section 12.01 and the following Sections 12.02 through and including 12.15 of this Article Twelve shall constitute a continuing offer to all Persons who who, in reliance upon such provisions, become holders of, or continue to hold, hold Guarantor Senior Debt of any Guarantor and, to the extent set forth in Section 12.02, holders of Designated Senior Debt, ; and such provisions are made for the benefit of the holders of Guarantor Senior Debt of each Guarantor and, to the extent set forth in Section 12.02, holders of Designated Senior Debt; and such holders (to such extent) are made obligees hereunder and any one they or more each of them may enforce such provisions.

Guarantee Obligations Subordinated to Guarantor Senior Debt. Anything herein to the contrary notwithstanding, each of the GuarantorsEach Guarantor, for itself and its successors, covenants and agrees, and the Trustee and each HolderHolder of the Securities, by his its acceptance thereof, likewise covenants and agrees, that all Guarantees shall be issued subject to the provisions of this Article Twelve; and the Trustee and each Person holding any Guarantee, whether upon original issue or her acceptance of Guaranteesupon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations owing on the Securities pursuant to the Holders in respect Guarantees made by or on behalf of its Guarantee is subordinatedany Guarantor shall, to the extent and in the manner provided herein set forth, be subordinated and junior in this Article Twelve, right of payment to the prior payment in full in cash or Cash Equivalentsof all existing and future Obligations on the Guarantor Senior Debt of such Guarantor; that the subordination is for the benefit of, or such payment duly provided for to the satisfaction of and shall be enforceable directly by, the holders of Guarantor Senior DebtDebt of such Guarantor, and that each holder of all Obligations on Guarantor Senior Debt of such Guarantor (including the Obligations with respect whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to the Credit Agreement, whether outstanding on the Issue Date or thereafter incurred). Notwithstanding the foregoing, payments and distributions made relating to the Securities from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as (i) the conditions specified in Article Eight (without any waiver or modification of the requirement that the deposits pursuant thereto do not conflict with the terms of the Credit Agreement or any other have acquired Guarantor Senior Debt or of such Guarantor Senior Debt) are satisfied on in reliance upon the date of any deposit pursuant to said trust covenants and (ii) such payments provisions contained in this Indenture and distributions did not violate the provisions of Article Ten or this Article TwelveGuarantees. This Section 12.01 and the following Sections 12.02 through and including 12.15 of this Article Twelve shall constitute a continuing offer to all Persons who who, in reliance upon such provisions, become holders of, or continue to hold, hold Guarantor Senior Debt of any Guarantor and, to the extent set forth in Section 12.02, holders of Designated Senior Debt, ; and such provisions are made for the benefit of the holders of Guarantor Senior Debt of each Guarantor and, to the extent set forth in Section 12.02, holders of Designated Senior Debt; and such holders (to such extent) are made obligees hereunder and any one they or more each of them may enforce such provisions.