Common use of Limitation on Liens Securing Indebtedness Clause in Contracts

Limitation on Liens Securing Indebtedness. The Company shall not, and shall not permit any Subsidiary to, create, incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of the Indenture or upon any income or profits therefrom securing any Indebtedness of the Company other than Senior Debt of the Company, unless the Company provides, and causes its Subsidiaries to provide, concurrently or immediately thereafter, that the Securities are equally and ratably so secured so long as such Lien exists, PROVIDED that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such Subordinated Indebtedness shall be subordinate and junior to the Lien securing the Securities with the same relative priority as such Subordinated Indebtedness shall have with respect to the Securities.

Limitation on Liens Securing Indebtedness. The Company shall will not, and shall will not permit any Restricted Subsidiary to, create, incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, kind upon any of their respective assets or properties now owned or acquired on or after the date of the Indenture this Indenture, or upon any income or profits therefrom therefrom, securing any Indebtedness of the Company or any Restricted Subsidiary (other than Senior Debt Permitted Liens) without making provision for all of the CompanySecurities to be equally and ratably secured with (or prior to) such Indebtedness, unless provided, however that if such Lien securing such Indebtedness ceases to exist, such equal and ratable (or prior) Lien for the Company providesbenefit of the holders of the Securities shall cease to exist; provided, and causes its Subsidiaries to provide, concurrently or immediately thereafterfurther, that the Securities are equally and ratably so secured so long as such Lien exists, PROVIDED that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such any Subordinated Indebtedness shall be subordinate and junior subordinated to the Lien securing the Securities with to at least the same relative priority as extent that such Subordinated Indebtedness shall have with respect is subordinated to the Securities.