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

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 (other than the Notes and the Guarantees, as the case may be) that is both (i) subordinated in right of payment to any Senior Debt of the Company or any of 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 Section 4.12, Indebtedness is deemed to be senior in right of payment to the Notes or the Guarantees, as the case may be, if it is not explicitly subordinated in right of payment to Senior Debt at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinated to such Senior Debt.

Appears in 1 contract

Samples: Supplemental Indenture (Ifco Systems Nv)

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Limitation on Other Senior Subordinated Indebtedness. The Company will shall not, and will shall not cause or permit any of its Restricted Subsidiaries Subsidiary 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 (i) subordinated in right of payment to any Senior Debt Indebtedness of the Company or any of 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 Section 4.124.07, Indebtedness is deemed to be senior in right of payment to the Notes or the Guarantees, as the case may be, if it is not explicitly subordinated in right of payment to Senior Debt Indebtedness at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinated to such Senior DebtIndebtedness.

Appears in 1 contract

Samples: Indenture (Oglebay Norton Co /New/)

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 (other than the Notes and the Guarantees, as the case may be) that is both (i) subordinated subordinate in right of payment to any Senior Debt Indebtedness of the Company or any of 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 Section 4.12covenant, Indebtedness is deemed to be senior in right of payment to the Notes or and the Guarantees, as the case may be, if it is not explicitly subordinated subordinate in right of payment to Senior Debt Indebtedness at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinated subordinate to such Senior DebtIndebtedness.

Appears in 1 contract

Samples: Indenture (Carpenter W R North America Inc)

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Limitation on Other Senior Subordinated Indebtedness. The Company will shall not, and will shall not permit any of its Restricted Subsidiaries 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 (i) subordinated subordinate in right of payment to any Senior Debt Indebtedness of the Company or any of 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 Section 4.124.21, Indebtedness is deemed to be senior in right of payment to the Notes or the Guarantees, as the case may be, if it is not explicitly subordinated subordinate in right of payment to Senior Debt Indebtedness at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinated to such Senior DebtIndebtedness.

Appears in 1 contract

Samples: Indenture (Sandhills Inc)

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