Common use of Notes Subordinate to Senior Indebtedness Clause in Contracts

Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 6, the indebtedness represented by the Notes and the payment of the principal of, premium, if any, and interest on each and all of the Notes are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

Appears in 2 contracts

Samples: Noteholders Agreement (Hybridon Inc), Noteholders Agreement (Hybridon Inc)

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Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 6(subject to the provisions of Article 4), the indebtedness represented by the Notes and the payment of the principal of, of (and premium, if any, ) and interest on each and all of the Notes (including any repurchases or payments pursuant to Article 14) are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

Appears in 2 contracts

Samples: Prime Hospitality Corp, Buffets Inc

Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder holder of a Note, by his or her acceptance thereof, likewise covenants and agrees, that, anything contained in this Indenture to the extent and in the manner hereinafter set forth in this Article 6contrary notwithstanding, the indebtedness represented by the Notes and the payment of the principal of, premium, if any, and interest on on, each and all of the Notes are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all Senior Indebtedness, to the extent hereinafter set forth.

Appears in 1 contract

Samples: Aurora Electronics Inc

Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 610, the indebtedness Indebtedness represented by the Notes and the payment of the principal of, premium, if any, of and interest on each and all of the Notes are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior IndebtednessIndebtedness and senior, in right of payment to all Subordinated Obligations.

Appears in 1 contract

Samples: Exhibit T3c (Envirosource Inc)

Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 6XII, the indebtedness represented by the Notes and the payment of the principal of, of (and premium, if any, ) and interest on each and all of the Notes and all obligations of the Company under this Indenture are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

Appears in 1 contract

Samples: Indenture (Kranzco Realty Trust)

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Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his such Holder's acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 6, Fifteen of the Base Indenture the indebtedness represented by the Notes and the payment of the principal of, premium, if any, and interest on each and all of the Notes are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

Appears in 1 contract

Samples: Sci Systems Inc

Notes Subordinate to Senior Indebtedness. The Company covenants and agrees, and each Holder of a Note, by his its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 6Article, the indebtedness represented by the Notes and the payment of the principal of, premium, if any, of and interest on each and all of the Notes are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

Appears in 1 contract

Samples: GBC Bancorp

Notes Subordinate to Senior Indebtedness. The Company ----------------------------------------- covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 610, the indebtedness Indebtedness represented by the Notes and the payment of the principal of, premium, if any, of and interest on each and all of the Notes are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior IndebtednessIndebtedness and senior, in right of payment to all Subordinated Obligations.

Appears in 1 contract

Samples: Envirosource Inc

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