Limitation on Layered Indebtedness. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur any Indebtedness that is subordinate in right of payment to any other Indebtedness, unless such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Notes or, in the case of Restricted Subsidiaries that are Note Guarantors, such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Note Guarantees of such Note Guarantors. (b) The Note Guarantors will not, directly or indirectly, Guarantee any Indebtedness of the Company that is subordinate in right of payment to any other Indebtedness of the Company unless such Guarantee is subordinate in right of payment to, or ranks pari passu with, the Note Guarantees of such Note Guarantors.
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Samples: Indenture (Paragon Trade Brands Inc), Indenture (Paragon Trade Brands Inc)
Limitation on Layered Indebtedness. (a) The Company shall ---------------------------------- not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur any Indebtedness that is subordinate in right of payment to any other Indebtedness, unless such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Notes or, in the case of Restricted Subsidiaries that are Note Guarantors, such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Note Guarantees of such Note Guarantors.
(b) The . No Note Guarantors will notGuarantor will, directly or indirectly, Guarantee any Indebtedness of the Company Issuers that is subordinate in right of payment to any other Indebtedness of the Company Issuers unless such Guarantee is subordinate in right of payment to, or ranks pari passu with, the Note Guarantees Guarantee of such Note GuarantorsGuarantor.
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Limitation on Layered Indebtedness. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur any Indebtedness that is subordinate in right of payment to any other Indebtedness, unless such Indebtedness is subordinate in right of payment to, or ranks pari passu PARI PASSU with, the Notes or, in the case of Restricted Subsidiaries that are Note Guarantors, such Indebtedness is subordinate in right of payment to, or ranks pari passu PARI PASSU with, the Note Guarantees of such Note Guarantors.
(b) . The Note Guarantors will not, directly or indirectly, Guarantee any Indebtedness of the Company that is subordinate in right of payment to any other Indebtedness of the Company unless such Guarantee is subordinate in right of payment to, or ranks pari passu PARI PASSU with, the Note Guarantees of such Note Guarantors.
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Samples: Indenture (Galey & Lord Inc)
Limitation on Layered Indebtedness. (a) The Company shall ---------------------------------- not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur any Indebtedness that is subordinate in right of payment to any other Indebtedness, unless such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Notes or, in the case of Restricted Subsidiaries that are Note Guarantors, such Indebtedness is subordinate in right of payment to, or ranks pari pan passu with, the Note Guarantees of such Note Guarantors.
(b) The . No Note Guarantors will notGuarantor will, directly or indirectly, Guarantee guarantee any Indebtedness of the Company that is subordinate in right of payment to any other Indebtedness of the Company unless such Guarantee guarantee is subordinate in right of payment to, or ranks pari passu with, the Note Guarantees Guarantee of such Note GuarantorsGuarantor.
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Samples: Indenture (BGF Industries Inc)