Limitation on Other Senior Subordinated Indebtedness. The Company shall not, and shall not permit any Guarantor to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) that is subordinate in right of payment to any Indebtedness of the Company or any Indebtedness of any such Guarantor, as the case may be, unless such Indebtedness is either:
(i) pari passu in right of payment with the Securities or such Guarantor’s Guarantee, as the case may be, or
(ii) subordinate in right of payment to the Securities or such Guarantor’s Guarantee, as the case may be.
Limitation on Other Senior Subordinated Indebtedness. The Company shall not incur, directly or indirectly, any Indebtedness which is expressly subordinate or junior in right of payment in any respect to Senior Indebtedness unless such Indebtedness ranks pari passu in right of payment with the Securities, or is expressly subordinated in right of payment to the Securities.
Limitation on Other Senior Subordinated Indebtedness. The Company will not, and will not permit any Guarantor to, directly or indirectly, incur any Indebtedness (including Acquired Indebtedness) that is subordinate in right of payment to any Indebtedness of the Company or any Indebtedness of any Guarantor, as the case may be, unless such Indebtedness is either (a) pari passu in right of payment with the Notes or such Guarantor's Guarantee, as the case may be or (b) subordinate in right of payment to the Notes, or such Guarantor's Guarantee, as the case may be, in the same manner and at least to the same extent as the Notes are subordinate to Senior Indebtedness or such Guarantor's Guarantee is subordinate to such Guarantor's Senior Indebtedness, as the case may be.
Limitation on Other Senior Subordinated Indebtedness. The Company shall not, and shall not permit any Guarantor to, directly or indirectly, incur, contingently or otherwise, any Indebtedness (other than the Notes and the Guarantees, as the case may be) that is both:
(1) subordinate in right of payment to all Senior Indebtedness of the Company or such Guarantor, as the case may be; and
(2) senior in right of payment to the Notes or the Guarantee of such Guarantor, as the case may be. For purposes of this Section 4.12, Indebtedness is deemed to be senior in right of payment to the Notes or a Guarantee, as the case may be, if it is not explicitly subordinated in right of payment to Senior Indebtedness of the Company or such Guarantor, as the case may be, at least to the same extent as the Notes and the Guarantee of such Guarantor, as the case may be, are subordinated to such Senior Indebtedness. This Indenture does not treat (i) unsecured Indebtedness as subordinated or junior to Senior Indebtedness merely because it is unsecured or (ii) Senior Indebtedness as subordinated or junior to any other Senior Indebtedness merely because it has a junior priority with respect to the same collateral.
Limitation on Other Senior Subordinated Indebtedness. The Company will not, and will not permit any Restricted Subsidiary to, incur, create, assume, guarantee or in any other manner become directly or indirectly liable with respect to or be responsible for, or permit to remain outstanding, any Indebtedness (other than the Securities) that is subordinate or junior in right of payment to any Senior Indebtedness of the Company, unless such Indebtedness is also pari passu with, or subordinate in right of payment to, the Securities pursuant to subordination provisions substantially similar to those set forth in Article 10.
Limitation on Other Senior Subordinated Indebtedness. The Company will not, and will not permit its Restricted Subsidiaries to, incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both:
(1) subordinate in right of payment to any Senior Indebtedness; and
(2) senior in right of payment to the Notes or any Subsidiary Guaranty. Neither the existence nor lack of a security interest nor the priority of any such security interest shall be deemed to affect the ranking or right of payment of any Indebtedness.
Limitation on Other Senior Subordinated Indebtedness. The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, incur, contingently or otherwise, any Indebtedness that is both (i) subordinate in right of payment to any Senior Indebtedness of the Company or its Restricted Subsidiaries, as the case may be, and (ii) senior in right of payment to the Notes and the Guarantees, as the case may be. For purposes of this covenant, Indebtedness is deemed to be senior in right of payment to the Notes and the Guarantees, as the case may be, if it is not explicitly subordinate in right of payment to Senior Indebtedness at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinate to Senior Indebtedness.
Limitation on Other Senior Subordinated Indebtedness. The Issuer shall not Incur any Indebtedness that is subordinate in right of payment to any Senior Debt of the Issuer unless it is pari passu or subordinate in right of payment to the Notes. No Guarantor shall Incur any Indebtedness that is subordinate or junior in right of payment to the Senior Debt of such Guarantor unless it is pari passu or subordinate in right of payment to such Guarantor’s Notes Guarantee. For purposes of the foregoing, no Indebtedness shall be deemed to be subordinated in right of payment to any other Indebtedness of the Issuer or any Guarantor, as applicable, solely by reason of any Liens or Guarantees arising or created in respect of such other Indebtedness of the Issuer or any Guarantor or by virtue of the fact that the holders of any secured Indebtedness have entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them.
Limitation on Other Senior Subordinated Indebtedness. The Company will not, directly or indirectly, incur any Debt (including Acquired Debt) that is subordinate in right of payment to any Debt of the Company unless such Debt is either (a) Pari Passu Indebtedness or (b) subordinate in right of payment to the Notes, in the same manner and at least to the same extent as the Notes are subordinate to Senior Indebtedness.
Limitation on Other Senior Subordinated Indebtedness. Permit the Borrower or any Guarantor to, directly or indirectly, incur any Indebtedness that is, or purports to be, contractually subordinated or junior in right of payment to any Senior Indebtedness (including Acquired Indebtedness), unless such Indebtedness is either (i) pari passu in right of payment with the Borrower's Obligations hereunder or such Guarantor's Guarantee of the Borrower's Obligations hereunder, as the case may be, or (ii) subordinate in right of payment to the Borrower's Obligations hereunder or such Guarantee, as the case may be.
