Common use of Limitation on Senior Subordinated Debt Clause in Contracts

Limitation on Senior Subordinated Debt. The Company shall not incur any Indebtedness that is contractually subordinate in right of payment to any Senior Debt of the Company unless it is pari passu or subordinate in right of payment to the Notes. No Guarantor will incur any Indebtedness that is contractually subordinate 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 Note Guarantee. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or guarantees arising or created in respect of such other Indebtedness of the Company 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 Senior Subordinated Debt. The Company shall not incur any Indebtedness that is contractually subordinate or junior in right of payment to any Senior Debt of the Company unless it is pari passu PARI PASSU or contractually subordinate in right of payment to the NotesNotes to the same extent. No Guarantor will shall incur any Indebtedness that is contractually subordinate or junior in right of payment to the Senior Debt of such Guarantor unless it is pari passu PARI PASSU or contractually subordinate in right of payment to such Guarantor’s 's Note Guarantee. For purposes Guarantee to the same extent; PROVIDED that no Indebtedness of the foregoing, no Indebtedness will Company or any Guarantor shall be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Guarantor, as applicable, of its Subsidiaries solely by reason virtue of any Liens or guarantees arising or created in respect of such other Indebtedness of the Company or any Guarantor being unsecured or by virtue of the fact that the holders of any secured such Indebtedness have entered into intercreditor agreements or other arrangements giving one or more of such holders priority over the other holders in the collateral held by them.

Limitation on Senior Subordinated Debt. The Company shall not incur Incur any Indebtedness that is contractually subordinate in right of payment to any Senior Debt of the Company unless it is pari passu or subordinate in right of payment to the Notes. No Guarantor will incur Incur any Indebtedness that is contractually 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 Note Guarantee. For purposes of the foregoing, no Indebtedness will shall be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or guarantees Guarantees arising or created in respect of such other Indebtedness of the Company 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 Senior Subordinated Debt. The Company shall will not incur any Indebtedness that is contractually subordinate in right of payment to any Senior Debt of the Company unless it is pari passu or subordinate in right of payment to the Notes. No Note Guarantor will incur any Indebtedness that is contractually subordinate or junior in right of payment to the Senior Debt of such Note Guarantor unless it is pari passu or subordinate in right of payment to such Note Guarantor’s Note Guarantee. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Note Guarantor, as applicable, solely by reason of any Liens or guarantees Guarantees arising or created in respect of such other Indebtedness of the Company or any Note 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 Senior Subordinated Debt. The Company shall not incur any Indebtedness that is contractually subordinate or junior in right of payment to any Senior Debt of the Company unless it is pari passu or contractually subordinate in right of payment to the Notes. No Subsidiary Guarantor will shall incur any Indebtedness that is contractually subordinate or junior in right of payment to the Senior Debt of such Subsidiary Guarantor unless it is pari passu or contractually subordinate in right of payment to such Subsidiary Guarantor’s 's Note Guarantee. For purposes of the foregoing, no Indebtedness will shall be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Subsidiary Guarantor, as applicable, solely by reason virtue of any Liens or guarantees arising or created in respect of such other Indebtedness of the Company or any Guarantor being unsecured 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 Senior Subordinated Debt. The Company shall not incur any Indebtedness that is contractually subordinate or junior in right of payment to any Senior Debt of the Company unless it is pari passu or subordinate in right of payment to the NotesNotes to the same extent. No Guarantor will shall incur any Indebtedness that is contractually 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 's Note GuaranteeGuarantee to the same extent. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated subordinate or junior in right of payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or guarantees Guarantees arising or created in respect of such other Indebtedness of the Company or any Guarantor thereof 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 Senior Subordinated Debt. The Company shall not incur Incur any Indebtedness that is contractually subordinate in right of payment to any Senior Debt of the Company unless it is ranks pari passu or subordinate in right of payment to the Notes. No Guarantor will incur shall Incur any Indebtedness that is contractually subordinate in right of payment to the Senior Debt of such Guarantor unless it is ranks pari passu or subordinate in right of payment to such Guarantor’s Note Guarantee. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Guarantor, as applicable, solely by reason of any Liens or guarantees Guarantees arising or created in respect of such other Indebtedness of the Company 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.