Liquidation, Dissolution or Bankruptcy. (i) Upon any distribution of assets of the Obligor to creditors or upon a liquidation or dissolution or winding-up of the Obligor or in a bankruptcy, arrangement, liquidation, reorganization, insolvency, receivership or similar case or proceeding relating to the Obligor or its property or other marshalling of assets of the Obligor:
(A) the holders of Senior Indebtedness shall be entitled to receive payment in full of all Senior Indebtedness before the Holder shall be entitled to receive any payment of any amount owing in respect of the Subordinated Security (including, without limitation, principal, interest, premium, redemption or retraction amount, or dividend);
(B) until payment in full of all Senior Indebtedness, any distribution of assets of the Obligor of any kind or character to which the Holder would be entitled but for this Section 3 is hereby assigned absolutely to the holders of Senior Indebtedness (equally and ratably among the holders of Senior Indebtedness) and shall be paid by the Obligor or by any receiver, trustee in bankruptcy, liquidating trustee, agents or other Persons making such payment or distribution to the Trustee and/or other Representative on behalf of the holders of Senior Indebtedness, as their interests may appear; and
(C) in the event that, notwithstanding the foregoing, any payment or distribution of assets of the Obligor of any kind or character, whether in Cash, Property or Securities, shall be received by the Holder before all Senior Indebtedness is paid in full, such payment or distribution shall be held in trust for the benefit of and shall be paid over to the Trustee and/or other Representative on behalf of the holders of Senior Indebtedness (equally and ratably among the holders of Senior Indebtedness), as their interests may appear, for application to the payment of all Senior Indebtedness until all Senior Indebtedness shall have been paid in full after giving effect to any concurrent payment or distribution to the holders of Senior Indebtedness in respect of such Senior Indebtedness.
(ii) If (A) a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Obligor or its property (a “Reorganization Proceeding”) is commenced and is continuing and (B) the Holder does not file proper claims or proofs of claim in the form required in a Reorganization Proceeding prior to 45 days before the expiration of the time to file such claims, then (1) upon the request of the Trustee, the Holder shal...
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of a Subsidiary Guarantor upon a total or partial liquidation or dissolution or reorganization of or similar proceeding relating to such Subsidiary Guarantor or its property, or in a bankruptcy, insolvency, receivership or similar proceeding relating to such Subsidiary Guarantor or its property,
(i) the holders of Senior Indebtedness of such Subsidiary Guarantor will be entitled to receive payment in full in cash or Cash Equivalents of such Senior Indebtedness before the Noteholders are entitled to receive any payment from such Subsidiary Guarantor; and
(ii) until the Senior Indebtedness of such Subsidiary Guarantor is paid in full in cash or Cash Equivalents, any payment or distribution from such Subsidiary Guarantor to which Noteholders would be entitled but for this Article XV will be made to holders of such Senior Indebtedness as their interests may appear except that Noteholders may receive shares of stock and any debt securities that are subordinated to such Senior Indebtedness to at least the same extent as the Subsidiary Guarantee of such Subsidiary Guarantor.
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution to creditors of the Company in a liquidation or dissolution of the Company, in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property, in an assignment for the benefit of the Company’s creditors, or in any marshaling of the Company’s assets and liabilities:
(a) holders of Senior Debt will be entitled to receive payment in full in cash or cash equivalents of all Senior Debt before the Holders of the Notes are entitled directly or indirectly to receive any payment of principal of or interest on the Notes, except the Holders of the Notes may receive and retain (i) debt securities that are subordinated to the Senior Debt to at least the same extent as the Notes or (ii) equity interests; and
(b) until payment in full in cash or cash equivalents of all Senior Debt, any payment to which the Holders of the Notes would be entitled but for the foregoing clause (a) will be made to holders of Senior Debt as their interests may appear.
Liquidation, Dissolution or Bankruptcy. Upon any distribution of assets of the Obligor to creditors or upon a liquidation or dissolution or winding-up of the Obligor or in a bankruptcy, arrangement, liquidation, reorganization, insolvency, receivership or similar case or proceeding relating to the Obligor or its property or other marshalling of assets of the Obligor:
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of the Company upon a total or partial liquidation or dissolution or reorganization of or similar proceeding relating to the Company or its property, or in a bankruptcy, insolvency, receivership or similar proceeding relating to the Company or its property,
(i) the holders of Senior Indebtedness of the Company will be entitled to receive payment in full in cash or Cash Equivalents of such Senior Indebtedness before the Noteholders are entitled to receive any payment from the Company, and
(ii) until the Senior Indebtedness of the Company is paid in full in cash or Cash Equivalents, any payment or distribution from the Company to which Noteholders would be entitled but for this Article XIV will be made to holders of such Senior Indebtedness as their interests may appear except that Noteholders may receive shares of stock and any debt securities that are subordinated to such Senior Indebtedness to at least the same extent as the Notes.
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of the Company upon a total or partial liquidation or dissolution, bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property, or an assignment for the benefit of its creditors or any marshalling of the Company’s assets or liabilities, the holders of Senior Indebtedness shall be entitled to receive payment in full in cash of all the Senior Indebtedness before Holders are entitled to receive any payment, and until the Senior Indebtedness of the Company is paid in full in cash, any payment or distribution to which Holders would be entitled but for this Article 10 shall be made to holders of the Senior Indebtedness as their interests may appear.
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of a Guarantor upon a total or partial liquidation or dissolution, bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to such Guarantor or its property, or an assignment for the benefit of its creditors or any marshalling of the Guarantor’s assets or liabilities, the holders of Senior Indebtedness of such Guarantor shall be entitled to receive payment in full in cash of all such Senior Indebtedness of such Guarantor before Holders are entitled to receive any payment under any Guarantee, and until the Senior Indebtedness of such Guarantor is paid in full in cash, any payment or distribution to which Holders would be entitled but for this Article 12 shall be made to holders of such Senior Indebtedness of such Guarantor as their interests may appear.
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of the Borrower to creditors upon a total or partial liquidation or a total or partial dissolution of the Borrower or in a reorganization, bankruptcy, insolvency, receivership of or similar proceeding relating to the Borrower or its property:
(i) the holders of Senior Indebtedness of the Borrower shall be entitled to receive payment in full of such Senior Indebtedness in cash or Permitted Investments before Lenders shall be entitled to receive any payment; and
(ii) until the Senior Indebtedness of the Borrower is paid in full in cash or Permitted Investments, any payment or distribution to which Lenders would be entitled but for this Section 14 shall be made to holders of such Senior Indebtedness as their interests may appear, except that Lenders may receive Permitted Junior Securities.
Liquidation, Dissolution or Bankruptcy. Upon any payment or distribution of the assets of any Guarantor upon a total or partial liquidation or dissolution or a reorganization of or similar proceeding relating to such Guarantor or its property:
(i) the holders of Designated Senior Indebtedness of such Guarantor shall be entitled to receive payment in full of such Designated Senior Indebtedness in cash before Holders of the Notes shall be entitled to receive any payment or distribution of any kind or character with respect to any Obligations on, or relating to, the Guarantees of the Notes; and
(ii) until the Designated Senior Indebtedness of such Guarantor is paid in full in cash, any payment or distribution to which holders of the Guarantees of the Notes would be entitled but for this Article XI of this Indenture shall be made to holders of such Designated Senior Indebtedness as their interests may appear, except that holders of the Guarantees of the Notes may receive Permitted Junior Securities.
Liquidation, Dissolution or Bankruptcy. Commencement of any liquidation, dissolution or voluntary bankruptcy, administration, insolvency proceeding, recapitalization or reorganization of the Company or its Subsidiaries in any form of transaction, any arrangement with creditors, or the consent to entry of an order for relief in an involuntary case, or the conversion of an involuntary case to a voluntary case, or the consent to any plan of reorganization in any involuntary or voluntary case, or the consent to the appointment or taking possession by a receiver, trustee or other custodian for all or any portion of its property, or otherwise seek the protection of any applicable bankruptcy or insolvency law; Schedule A
