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

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article Twelve; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Securities pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 5 contracts

Samples: Indenture (Aas Capital Corp), Indenture (Axia Inc), Indenture (Fabrene Group Inc)

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Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities Notes by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article Twelve; and each person holding any SecurityNote, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Securities Notes pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 4 contracts

Samples: Indenture (Language Line Costa Rica, LLC), Indenture (Atlantic Broadband Management, LLC), Indenture (Polymer Group Inc)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article TwelveThirteen; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of of, premium, if any, and interest on the Securities pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article TwelveThirteen, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor, whether outstanding on the date of this Indenture or thereafter incurred.

Appears in 2 contracts

Samples: Indenture (Horton D R Inc /De/), Indenture (HPH Homebuilders 2000 Lp)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities GOF by his acceptance thereof likewise covenant covenants and agreeagrees, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article TwelveIII; and each person holding any SecuritySenior Subordinated Note, whether GOF upon original issue to or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Securities Senior Subordinated Notes, and all other amounts payable under this Agreement, pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article TwelveIII, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 2 contracts

Samples: Senior Subordinated Note Purchase Agreement (Matlinpatterson Global Opportunities Partners Lp), Senior Subordinated Note Purchase Agreement (Polymer Group Inc)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article TwelveThirteen; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments the payment of the principal of and of, interest on and all other amounts owing in respect of the Securities pursuant to the such Guarantor's Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, will be subordinated and junior Subordinated in right of payment to the prior payment in full in cash of principal of, interest on and all other amounts payable under owing in respect of all of the Guarantor's Guarantor Senior Indebtedness of such Guarantorto the extent set forth in this Article Thirteen.

Appears in 2 contracts

Samples: Indenture (Collins & Aikman Products Co), Indenture (Collins & Aikman Products Co)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article Twelve; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of of, premium, if any, and interest on the Securities pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 1 contract

Samples: Indenture (Carrols Corp)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article Twelve; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Securities pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 1 contract

Samples: Indenture (St John Knits Inc)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor Guarantees shall be issued subject to the provisions of this Article TwelveArticle; and each person holding any Security, whether upon original issue or upon transfer, assignment as- signment or exchange thereof, accepts and agrees that all payments of the principal of and interest and Additional Interest on the Securities pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article TwelveArticle, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 1 contract

Samples: Indenture (Newport News Shipbuilding Inc)

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Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each The Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by its or his acceptance thereof likewise covenant covenants and agreeagrees, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article Twelve; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and premium, if any, interest and Liquidated Damages, if any, on the Securities pursuant to the Guarantee made by or on behalf of any the Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such the Guarantor.

Appears in 1 contract

Samples: Indenture (Fedders North America Inc)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder holder of the Securities by its or his acceptance thereof likewise covenant covenants and agreeagrees, that the Guarantee of such Guarantor Guarantees shall be issued subject to the provisions of this Article Twelve; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and premium, if any, interest and Liquidated Damages, if any, on the Securities pursuant to the Guarantee Guarantees made by or on behalf of any each Guarantor shall, to the extent and in the manner set forth in this Article Twelve, be subordinated and junior in right of payment to the prior payment in full in cash or Marketable Securities of all amounts payable under Guarantor Senior Indebtedness of such each Guarantor.

Appears in 1 contract

Samples: Indenture (Carson Products Co)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each The Guarantor covenants and agrees, and the Trustee and each Holder of the Securities by his acceptance thereof likewise covenant and agree, that (except as otherwise specified as contemplated by Section 2.01) the Guarantee of such the Guarantor shall be issued subject to the provisions of this Article TwelveThirteen; and each person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments the payment of the principal of and of, interest on and all other amounts owing in respect of the Securities pursuant to the Guarantor's Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article Twelve, will be subordinated and junior Subordinated in right of payment to the prior payment in full in cash of principal of, interest on and all other amounts payable under owing in respect of all of the Guarantor's Guarantor Senior Indebtedness of such Guarantorto the extent set forth in this Article Thirteen.

Appears in 1 contract

Samples: Indenture (Collins & Aikman Products Co)

Guarantee Obligations Subordinated to Guarantor Senior Indebtedness. Each Guarantor covenants and agrees, and the Trustee and each Holder of the Securities Notes by his acceptance thereof likewise covenant and agree, that the Guarantee of such Guarantor shall be issued subject to the provisions of this Article TwelveEight; and each person holding any SecurityNote, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Securities Notes pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Article TwelveEight, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.

Appears in 1 contract

Samples: Supplemental Indenture (Canandaigua LTD)

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