Common use of Limitation on Layering Indebtedness Clause in Contracts

Limitation on Layering Indebtedness. The Company shall not, and shall not permit any Guarantor to, directly or indirectly, incur or suffer to exist any Indebtedness that is or purports to be by its terms (or by the terms of any agreement governing such Indebtedness) senior to the Notes or the Note Guarantee of such Guarantor, as the case may be, and subordinated to any other Indebtedness of the Company or of such Guarantor, as the case may be.

Limitation on Layering Indebtedness. The Company shall will not, and shall will not permit any Guarantor of the Guarantors to, directly incur, create, issue, assume, guarantee or indirectly, incur or suffer to exist otherwise become liable for any Indebtedness that is subordinate or purports junior in right of payment to be by its terms (any Senior Indebtedness of the Company or by the terms of any agreement governing such Indebtedness) senior to the Notes or the Note Guarantee of such Guarantor, as the case may be, and subordinated senior in any respect in right of payment to any other Indebtedness of the Company Notes or of such Guarantor's Note Guarantee, as the case may be.

Limitation on Layering Indebtedness. The Company shall notnot incur, and shall not permit any Guarantor tocreate, directly issue, assume, guarantee or indirectly, incur or suffer to exist otherwise become liable for any Indebtedness that is subordinate or purports junior in right of payment to be by its terms (or by the terms any Senior Indebtedness and senior in any respect in right of any agreement governing such Indebtedness) senior payment to the Notes or the Note Guarantee of such Guarantor, as the case may be, and subordinated to any other Indebtedness of the Company or of such Guarantor, as the case may beSecurities.

Limitation on Layering Indebtedness. The Notwithstanding anything to the contrary, the Company shall not, and shall not permit any Note Guarantor to, directly or indirectly, incur or suffer to exist any Indebtedness (including Permitted Indebtedness) that is subordinate in right of payment to any Senior Indebtedness of the Company or purports to be by its terms (or by the terms of any agreement governing such Indebtedness) senior to the Notes or the Note Guarantee of such Guarantor, as the case may be, and subordinated to any other unless such Indebtedness of the Company or of such Guarantor, as the case may be.is either: