Common use of Limitation on Layering Debt Clause in Contracts

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. The Company shall not, not incur, create, issue, assume, Guarantee 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 Notes. In addition, the Subsidiary Guarantors shall not incur, create, issue, assume, Guarantee 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 Subsidiary Guarantor and senior in any respect in right of payment to the Subsidiary Guarantees.

Limitation on Layering Debt. The Company shall not, not incur, create, issue, assume, Guarantee 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 and the Guarantors shall not Notes. No Guarantor will incur, create, issue, assume, Guarantee guarantee or otherwise become liable for any Indebtedness that is by its terms subordinate or junior in right of payment to any the Senior Debt of such Guarantor and senior in any respect in right of payment to the such Guarantor's Subsidiary GuaranteesGuarantee.