Limitation on Layering Debt. The Company will not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of the Company but senior in any respect in right of payment to the Notes.
Limitation on Layering Debt. Neither the Company nor any Guarantor will incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness or guarantee, as applicable, that is subordinate or junior in right of payment to any Senior Indebtedness and senior in any respect in right of payment to the Notes or such Guarantor's Guarantee, respectively.
Limitation on Layering Debt. The Company may not create, incur, assume or suffer to exist any Debt that is subordinate in right of payment to any other Debt of the Company, unless, by its terms or the terms of the instrument creating or evidencing it, such Debt is subordinate in right of payment to, or ranks PARI PASSU with, the Securities.
Limitation on Layering Debt. Neither the Company nor any Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of the Company and senior in any respect in right of payment to the Notes or the Subsidiary Guarantees, as applicable.
Limitation on Layering Debt. The Company shall not, incur, create, issue, assume, Guarantee or otherwise become liable for any Indebtedness that is by its terms subordinate or junior in right of payment to any Senior Debt and senior in any respect in right of payment to the Notes and the Guarantors shall not incur, create, issue, assume, Guarantee or otherwise become liable for any Indebtedness that is by its terms subordinate or junior in right of payment to any Senior Debt and senior in any respect in right of payment to the Subsidiary Guarantees.
Limitation on Layering Debt. Neither the Company, the Parent Guarantor, nor any Subsidiary Guarantor may create, incur, assume or suffer to exist any Indebtedness, except for Senior Subordinated Debt and Indebtedness evidenced by the Contingent Notes, that is subordinate in right of payment to any other Indebtedness of the Company or such Guarantor, as applicable, unless, by its terms or the terms of the instrument creating or evidencing it, such Indebtedness is subordinate in right of payment to (i) in the case of the Company, the Securities, (ii) in the case of the Subsidiary Guarantors, the Guaranty, and (iii) in the case of the Parent Guarantor, the Parent Guaranties.
Limitation on Layering Debt. Neither the Company nor the Guarantor may create, incur, assume or suffer to exist any Debt that is subordinate in right of payment to any other Debt of the Company or the Guarantor, as applicable, unless, by its terms or the terms of the instrument creating or evidencing it, such Debt is subordinate in right of payment to, or ranks pari passu with, the Securities or, in the case of Guarantor, the Guarantee.
Limitation on Layering Debt. The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that by its terms or the terms of any document or instrument relating thereto is subordinate or junior in right of payment to any Senior Indebtedness and senior in any respect in right of payment to the Notes. No Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that by its terms or the terms of any document or instrument relating thereto is subordinate or junior in right of payment to any Guarantor Senior Indebtedness and senior in any respect in right of payment to any Subsidiary Guarantees.
Limitation on Layering Debt. The Company shall not, directly or indirectly, incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is by its terms subordinate or junior in right of payment to any Senior Debt of the Company and senior in any respect in right of payment to the Notes. The Company shall not permit any Guarantor to, directly or indirectly, incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is by its terms subordinate or junior in right of payment to any Senior Debt of such Guarantor and senior in any respect in right of payment to the Subsidiary Guarantee of such Guarantor.
Limitation on Layering Debt. Neither the Company nor the Parent Guarantor may create, incur, assume or suffer to exist any Indebtedness, except for Senior Subordinated Debt, that is subordinate in right of payment to any other Indebtedness of the Company or the Parent Guarantor, as applicable, unless, by its terms or the terms of the instrument creating or evidencing it, such Indebtedness is subordinate in right of payment to the Securities or, in the case of the Parent Guarantor, the Guaranty.
