Common use of Limitation on Other Senior Subordinated Indebtedness Clause in Contracts

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.

Appears in 4 contracts

Samples: Indenture (Cross Timbers Oil Co), Indenture (Pogo Producing Co), Indenture (Pogo Producing Co)

AutoNDA by SimpleDocs

Limitation on Other Senior Subordinated Indebtedness. The Company shall not incurincur (as such term is defined in Section 10.12 hereof), directly or indirectlypermit to remain outstanding, any Indebtedness which is expressly subordinate or junior in right of payment in any respect to Senior (including Acquired Indebtedness unless such Indebtedness ranks pari passu in right of payment with and Permitted Indebtedness) other than the Securities, or that is expressly subordinated in right of payment to any Senior Indebtedness, unless such Indebtedness is also pari passu with, or subordinated in right of payment to, the SecuritiesSecurities pursuant to subordination provisions substantially similar to those contained in this Indenture.

Appears in 2 contracts

Samples: Indenture (Nuevo Energy Co), Indenture (Nuevo Energy Co)

Limitation on Other Senior Subordinated Indebtedness. The Company shall will not create, incur, directly assume, guarantee or indirectly, any Indebtedness which is expressly subordinate or junior in right of payment in any other manner become liable with respect to Senior Indebtedness unless such Indebtedness ranks pari passu in right of payment with any Indebtedness, other than the SecuritiesNotes, or that is expressly subordinated subordinate in right of payment to any Senior Indebtedness, unless such Indebtedness is also pari passu with, or subordinate in right of payment to, the SecuritiesNotes pursuant to subordination provisions substantially similar to those contained herein.

Appears in 2 contracts

Samples: Indenture (Genesis Health Ventures Inc /Pa), Indenture (Genesis Health Ventures Inc /Pa)

Limitation on Other Senior Subordinated Indebtedness. The Company shall will 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 (i) ranks pari passu in right of payment with the SecuritiesSecurities pursuant to subordination provisions substantially similar to those contained in Article XIV hereof, or (ii) is expressly subordinated in right of payment to the Securities.

Appears in 1 contract

Samples: Indenture (Ocean Energy Inc)

Limitation on Other Senior Subordinated Indebtedness. The Company shall will not create, incur, directly assume, guarantee or indirectly, any Indebtedness which is expressly subordinate or junior in right of payment in any other manner become liable with respect to Senior Indebtedness unless such Indebtedness ranks pari passu in right of payment with any Indebtedness, other than the Securities, or that is expressly subordinated subordinate in right of payment to any Senior Indebtedness, unless such Indebtedness is also pari passu with, or subordinate in right of ---- ----- payment to, the SecuritiesSecurities pursuant to subordination provisions substantially similar to those contained in this Indenture.

Appears in 1 contract

Samples: Indenture (Vencor Inc)

Limitation on Other Senior Subordinated Indebtedness. The Company shall not incurwill not, directly or indirectly, incur, contingently or otherwise, any Indebtedness which (other than the Securities) that is expressly both (i) subordinate or junior in right of payment in to any respect to Senior Indebtedness unless such Indebtedness ranks pari passu in right of payment with the Securities, or is expressly subordinated and (ii) senior in right of payment to the Securities. For purposes of this Section 4.17, Indebtedness is deemed to be senior in right of payment to the Securities if it is not explicitly subordinate in right of payment to Senior Indebtedness at least to the same extent as the Securities are subordinate to Senior Indebtedness.

Appears in 1 contract

Samples: Indenture (Capstar Broadcasting Partners Inc)

Limitation on Other Senior Subordinated Indebtedness. The Company shall not incur, issue, create, assume, guarantee or otherwise become directly or indirectly, indirectly liable for any Indebtedness which that 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 contractually subordinated in right of payment to any Senior Indebtedness and contractually senior in right of payment to the SecuritiesNotes.

Appears in 1 contract

Samples: Indenture (Nortek Inc)

AutoNDA by SimpleDocs

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.such

Appears in 1 contract

Samples: Indenture (Pogo Producing Co)

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; provided, however, that the foregoing limitations will not apply to distinctions between categories of Indebtedness that exist by reason of any Liens arising or created in respect of some but not all such Indebtedness.

Appears in 1 contract

Samples: Indenture (Petsec Energy Inc)

Limitation on Other Senior Subordinated Indebtedness. The Company shall will not incur, directly contingently or indirectlyotherwise, any Indebtedness which that is expressly both (i) subordinate or junior in right of payment in to any respect to Senior Indebtedness unless such Indebtedness ranks pari passu in right of payment with the Securities, or is expressly subordinated Company and (ii) senior in right of payment to the SecuritiesNotes. For purposes of this Section 4.14, Indebtedness is deemed to be senior in right of payment to the Notes if it is not explicitly subordinate in right of payment to Senior Indebtedness at least to the same extent as the Notes are subordinate to Senior Indebtedness.

Appears in 1 contract

Samples: Indenture (MMH Holdings Inc)

Limitation on Other Senior Subordinated Indebtedness. The Company shall not incurnot, directly or indirectly, incur any Indebtedness which that by its terms (or by the terms of the agreement governing such Indebtedness) is expressly subordinate or junior in right of payment in to any respect to Senior other Indebtedness of the Company unless such Indebtedness ranks is also by its terms (or the terms of the agreement governing such Indebtedness) made expressly either (a) pari passu in right of payment with the Securities, Securities or is expressly subordinated (b) subordinate in right of payment to the Securities.Securities in the same manner and at least to the same extent as the Securities are subordinate to Senior Indebtedness. 79 -71-

Appears in 1 contract

Samples: Indenture (Smiths Food & Drug Centers Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!