Common use of Limitations on Layering Indebtedness Clause in Contracts

Limitations on Layering Indebtedness. The Company and the Guarantors shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, incur, or suffer to exist any Indebtedness (other than the Securities) that is subordinate in right of payment to any other Indebtedness of the Company or a Guarantor unless, by its terms, such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Securities or the Guarantees, as applicable.

Limitations on Layering Indebtedness. The Company and the Guarantors shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, incur, or suffer to exist any Indebtedness (other than the Securities) that is subordinate in right of payment to any other Indebtedness of the Company or a Guarantor unless, by its terms, such Indebtedness is subordinate in right of payment to, or ranks pari passu PARI PASSU with, the Securities or the Guarantees, as applicable.

Limitations on Layering Indebtedness. The Company and the Guarantors shall not, and neither the Company nor the Guarantors shall not permit any of their respective Subsidiaries to, directly or indirectly, incur, or suffer to exist incur any Indebtedness (other than the Securities) that is contractually subordinate in right of payment to any of the Company's other Indebtedness or the other Indebtedness of the Company or a any Guarantor unless, by its terms, such Indebtedness is made at least as contractually subordinate in right of payment to, or ranks pari passu with, to the Securities Notes or the Guarantees, as applicable.

Limitations on Layering Indebtedness. The Company and the Guarantors shall not, and shall not permit any of their Subsidiaries the Guarantors to, directly or indirectly, incur, or suffer to exist incur any Indebtedness (other than the Securities) that is subordinate in right of payment contractually subordinated to any other Indebtedness of the Company or a any Guarantor unless, by its terms, unless the Indebtedness being incurred is contractually subordinated to the Notes at least to the same extent as it is to such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Securities or the Guarantees, as applicableother Indebtedness.

Limitations on Layering Indebtedness. The Company and the Guarantors shall not, and shall not permit any of their respective Subsidiaries to, directly or indirectly, incur, or suffer to exist any Indebtedness (other than the Securities) that is subordinate in right of payment to any other Indebtedness of the Company or a Guarantor unless, by its terms, such Indebtedness is subordinate in right of payment to, or ranks pari passu with, the Securities Notes or the Guarantees, as applicable.