Common use of Limitation on Senior Subordinated Indebtedness Clause in Contracts

Limitation on Senior Subordinated Indebtedness. The Company will not, and will not cause or permit any Guarantor to, directly or indirectly, incur any Indebtedness that purports by its terms (or by the terms of any agreement governing such Indebtedness) to rank senior in right of payment to the Notes and subordinated in right of payment to any other Indebtedness of the Company or of such Guarantor, as the case may be.

Limitation on Senior Subordinated Indebtedness. The Company will shall not, and will shall not cause or permit any Guarantor to, directly or indirectly, incur incur, or suffer to exist, any Indebtedness that purports by its terms (or by the terms of any agreement governing such Indebtedness) to would expressly rank senior in right of payment to the Notes Securities or the Guarantees of such Guarantor, as the case may be, and subordinated subordinate in right of payment to any other Indebtedness of the Company or of such Guarantor, as the case may be.

Limitation on Senior Subordinated Indebtedness. The Company will not, and will the Guarantors shall not cause or permit any Guarantor to, directly or indirectly, incur Incur any Indebtedness that purports by its terms (or by the terms of any agreement governing such Indebtedness) to rank senior in right of payment to the Notes and subordinated is subordinate in right of payment to any other Senior Indebtedness unless such Indebtedness is pari passu with, or subordinated in right of payment to, the Company Notes or the Note Guarantee of such Guarantor, as the case may be; provided that the foregoing limitation shall not apply to distinctions between categories of Senior Indebtedness that exist by reason of any Liens or Guarantees arising or created in respect of some but not all Senior Indebtedness.