No Senior Indebtedness. The Company shall not create, incur, issue, assume, guarantee or otherwise become liable for any Indebtedness senior in right of payment or otherwise to the Senior Secured Convertible Notes, and all outstanding current and any future obligations of the Company to its officers and/or managers and any additional debt instruments issued by the Company shall be subordinated to the Senior Secured Convertible Notes in all material respects.
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Samples: Subscription Agreement (SOS Hydration Inc.), Subscription Agreement (SOS Hydration Inc.)
No Senior Indebtedness. The Company shall not create, incur, issue, assume, guarantee or otherwise become liable for any Indebtedness senior in right of payment or otherwise to the Senior Secured Convertible Notes, and all outstanding current and any future obligations of the Company to its officers and/or managers directors and any additional debt instruments issued by the Company shall be subordinated to the Senior Secured Convertible Notes in all material respects, except for the Permitted Senior Liens (solely to the extent such Permitted Senior Liens remain outstanding).
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No Senior Indebtedness. The Company shall not create, incur, issue, assume, guarantee or otherwise become liable for any Indebtedness senior in right of payment or otherwise to the Senior Secured Convertible Notes, and all outstanding current and any future obligations of the Company to its officers and/or managers and any additional debt instruments issued by the Company shall be subordinated to the Senior Secured Convertible Notes in all material respects.
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