Limitation on Subordinated Indebtedness. The Company shall not incur any Indebtedness that is subordinate or junior in right of payment to any other Indebtedness of the Company unless it is made expressly subordinate in right of payment to the Notes to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness. No Subsidiary Guarantor shall incur any Indebtedness that is subordinate or junior in right of payment to any other Indebtedness of the Subsidiary Guarantor unless it is made expressly subordinate in right of payment to its Subsidiary Guarantee to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness. For purposes of the foregoing, no Indebtedness shall be deemed to be subordinated in right of payment to any other Indebtedness of the Company or any Subsidiary Guarantor solely by reason of any Liens or Guarantees arising or created in respect of such other Indebtedness 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 Subordinated Indebtedness. The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, incur Subordinated Indebtedness without the consent of the holders of the majority of the Notes (calculated subject to Section 6.04 (Requisite Aggregate Principal Amount; Company-Owned Notes Disregarded)).
Limitation on Subordinated Indebtedness. Neither the Company nor any Subsidiary Guarantor may, directly or indirectly, in any event incur any Indebtedness that by its terms (or by the terms of any agreement governing such Indebtedness) is subordinated to any other Indebtedness of the Company or such Subsidiary Guarantor, as the case may be, unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made expressly subordinate to the Securities or the Subsidiary Guarantee of such Subsidiary Guarantor, as the case may be, to the same extent and in the same manner as such Indebtedness is subordinated pursuant to subordination provisions that are most favorable to the holders of any other Indebtedness of the Company or such Subsidiary Guarantor, as the case may be.
Limitation on Subordinated Indebtedness. The Borrower shall not --------------------------------------- create or issue any subordinated bonds, debentures or other similar instruments except (a) any subordinated Indebtedness existing on the Closing Date; and (b) subordinated Indebtedness incurred in connection with the conversion of the Borrower's Series B preferred stock pursuant to conversion options existing on the Closing Date.
Limitation on Subordinated Indebtedness. Amend, modify or waive any provision of any Indebtedness permitted under Section 10.2(g).
Limitation on Subordinated Indebtedness. SECTION 4.22 is hereby deleted in its entirety and replaced with the phrase “SECTION 4.22 [NOT USED]”.
Limitation on Subordinated Indebtedness. The Company shall not incur any Indebtedness if such Indebtedness is subordinate or junior in ranking in any respect to any Secured Senior Indebtedness and senior in any ranking with respect to the Notes.
Limitation on Subordinated Indebtedness. The Company will not, nor will it permit any Subsidiary to, create, incur, assume, guarantee or be liable with respect to any Subordinated Indebtedness if immediately after giving effect to any such creation, incurrence, assumption or guarantee (including the retirement of any existing indebtedness from the proceeds of such Subordinated Indebtedness), the aggregate amount of Subordinated Indebtedness outstanding would exceed the Company's Consolidated Net Worth.
Limitation on Subordinated Indebtedness. (a) The Company will not, directly or indirectly, Incur any Indebtedness that is contractually subordinate or junior in right of payment to any other Indebtedness of the Company unless it is contractually subordinate in right of payment to the Notes to the same extent.
Limitation on Subordinated Indebtedness. The Company shall not issue, assume, guarantee, incur or otherwise become liable, directly or indirectly, for any indebtedness which is subordinate or junior in right of payment to any Senior Indebtedness unless such indebtedness constitutes Securities or is PARI PASSU or expressly subordinated in right of payment to any Securities. Ind-55 62
