Common use of Limitation on Layering Debt Clause in Contracts

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, the Parent Guarantor, 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 NotesDebt, 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, 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, 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 NotesDebt, 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, the Parent Guarantor, 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 8% 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, Securities (ii) in the case of the Subsidiary Guarantors, the Guaranty, and (iii) in the case of the Parent Guarantor, the Parent Guaranties.