Common use of Limitation on Senior Subordinated Indebtedness Clause in Contracts

Limitation on Senior Subordinated Indebtedness. The Company and the Guarantors shall not Incur any Indebtedness that is subordinate in right of payment to any Senior Indebtedness unless such Indebtedness is pari passu with, or subordinated in right of payment to, the 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.

Limitation on Senior Subordinated Indebtedness. The Company will not, and the Guarantors shall will not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness that is by its terms would expressly rank senior in right of payment to the Notes or the Guarantees, as the case may be, and expressly rank subordinate in right of payment to any Senior other Indebtedness unless of the Company or such Indebtedness is pari passu with, or subordinated in right of payment to, the 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 IndebtednessRestricted Subsidiary.

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

Limitation on Senior Subordinated Indebtedness. The Company and the Guarantors shall not (i) directly or indirectly Incur any Indebtedness that is by its terms would expressly rank senior in right of payment to the Securities and expressly rank subordinate in right of payment to any Senior Indebtedness unless such Indebtedness is pari passu with, of the Company or subordinated in right of payment (ii) permit any Guarantor to, the Notes and no Guarantor will, di- rectly 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 indirectly Incur any Indebtedness that exist by reason of any Liens or Guarantees arising or created in respect of some but not all Senior Indebtedness.its terms would expressly rank senior 58