Common use of Notes Subordinated to Senior Indebtedness Clause in Contracts

Notes Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder of Notes by its acceptance thereof likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article 8, and each Person holding any Note, whether upon original issue or upon transfer, assignment, or exchange thereof, accepts and agrees that all payments of the principal of and premium, if any, and interest on the Notes will, to the extent and in the manner set forth in this Article 8, be subordinated in right of payment to the prior payment in full in cash or Cash Equivalents of all Senior Indebtedness, whether outstanding on the date of the Note or thereafter incurred.

Appears in 4 contracts

Samples: Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Partners Investment Trust)

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Notes Subordinated to Senior Indebtedness. The Company Notwithstanding any other provision of this Indenture, the Issuer and the Trustee each covenants and agrees, and each Holder of Notes Holder, by its acceptance thereof of a Note, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article 8, Six; and each Person holding any Note, whether upon original issue or upon transfer, assignment, assignment or exchange thereof, accepts and agrees that all payments of the principal of and premium, if any, and interest on the Notes willSenior Subordinated Obligations shall, to the extent and in the manner set forth in this Article 8Six, be subordinated in right of payment to the prior payment in full full, in cash or Cash Equivalents cash equivalents, of all amounts that constitute Senior Indebtedness, whether outstanding on the date Indebtedness of the Note or thereafter incurredIssuer, including, without limitation, the Issuer's obligations under the Credit Agreement.

Appears in 1 contract

Samples: Supplemental Indenture (Protection One Alarm Monitoring Inc)

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Notes Subordinated to Senior Indebtedness. The Company covenants and agrees, and the Trustee and each Holder of the Notes by its his acceptance thereof likewise covenants covenant and agreesagree, that all Notes shall be issued subject to the provisions of this Article 8, Nine; and each Person person holding any Note, whether upon original issue or upon transfer, assignment, assignment or exchange thereof, accepts and agrees that all payments of the principal of and premium, if any, and interest on the Notes willby the Company shall, to the extent and in the manner set forth in this Article 8Nine, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents of all amounts payable under Senior IndebtednessIndebtedness of the Company, whether outstanding on the date of the Note Issue Date or thereafter incurred.

Appears in 1 contract

Samples: Senior Subordinated Indenture (Pasta Group L L C)

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