Monies Held in Trust. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Sections 401 or 1604 of this Indenture by the Trustee for the payment of principal of, premium, if any, and interest on the Securities shall not be subordinated to the prior payment of any Senior Debt of any Subsidiary Guarantor or subject to the restrictions set forth in this Article Fourteen, and none of the Holders shall be obligated to pay over any such amount to such Subsidiary Guarantor or any holder of Senior Debt of such Subsidiary Guarantor or any other creditor of such Subsidiary Guarantor. SECTION 1501. Applicability of Article. Repayment of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the terms of such Securities and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article Fifteen.
Appears in 6 contracts
Samples: Subordinated Indenture (American Italian Pasta Co), Subordinated Indenture (Bay Valley Foods, LLC), Subordinated Indenture (Lear Corp)
