Common use of Limitation on Layering Indebtedness Clause in Contracts

Limitation on Layering Indebtedness. The Issuers and the Guarantors will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor unless, by its terms, such Indebtedness is subordinated in right of payment to, or ranks pari passu with, the Securities or the Guarantee, as applicable.

Limitation on Layering Indebtedness. The Issuers and the Guarantors Guarantors, if any, will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor Guarantor, if any, unless, by its terms, such Indebtedness is subordinated subordinate in right of payment to, or ranks pari passu with, the Securities or the Guarantee, if any, as applicable.

Limitation on Layering Indebtedness. The Issuers Issuer and the Guarantors will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is is, or by its terms may become, subordinate in right of payment to any other Indebtedness of either the Issuer or any Guarantor unlessunless such Indebtedness, by its terms, such Indebtedness is subordinated in right of payment to, or ranks pari passu with, the Securities or the GuaranteeGuarantees, as applicable.

Limitation on Layering Indebtedness. The Issuers and the Guarantors Guarantors, if any, will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor unless, by its terms, such Indebtedness is subordinated subordinate in right of payment to, or ranks pari passu PARI PASSU with, the Securities or the Guarantee, if any, as applicable.

Limitation on Layering Indebtedness. The Issuers and the Guarantors will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor unless, by its terms, such Indebtedness is subordinated subordinate in right of payment to, or ranks pari passu with, the Securities Notes or the Guarantee, as applicable.

Limitation on Layering Indebtedness. The Issuers and the Guarantors Guarantors, if any, will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor unless, by its terms, such Indebtedness is subordinated in right of payment to, or ranks pari passu with, the Securities or the Guarantee, if any, as applicable.

Limitation on Layering Indebtedness. The Issuers and the Guarantors Guarantors, if any, will not, individually or collectively, directly or indirectly, incur, or suffer to exist any Indebtedness that is subordinate in right of payment to any other Indebtedness of either Issuer or any Guarantor unless, by its terms, such Indebtedness is subordinated subordinate in right of payment to, or ranks pari passu with, the Securities or the Guarantee, if any, as applicable.