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.
Appears in 2 contracts
Samples: Indenture (Mandalay Resort Group), Indenture (Mandalay Resort Group)
Limitation on Layering Debt. The Company may not create, incur, assume or suffer to exist any Debt Indebtedness that is subordinate in right of payment to any other Debt debt of the Company, unless, by its terms or the terms of the instrument creating or evidencing it, such Debt Indebtedness is subordinate in right of payment to, or ranks PARI PASSU pari pasu with, the Securities.
Appears in 2 contracts
Samples: Indenture (Circus Circus Enterprises Inc), Indenture (Circus Circus Enterprises Inc)
Limitation on Layering Debt. The Company may not create, incur, assume or suffer to exist any Debt Indebtedness that is subordinate in right of payment to any other Debt debt of the Company, unless, by its terms or the terms of the instrument creating or evidencing it, such Debt Indebtedness is subordinate in right of payment to, or ranks PARI PASSU pari passu with, the Securities.
Appears in 1 contract
Samples: Indenture (Circus Finance Ii)
