Common use of Notes Subordinated to Senior Indebtedness Clause in Contracts

Notes Subordinated to Senior Indebtedness. (a) The Notes are subordinated and junior in right of payment of the principal of and interest and all other obligations (all of the foregoing, a "Payment or Distribution") on such Notes to the prior payment in full of any Senior Indebtedness whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed, the Notes shall comply with the provisions of this Section 8, and each Holder by his acceptance thereof likewise agrees.

Notes Subordinated to Senior Indebtedness. (a) The Notes are subordinated and junior in right of payment of the principal of and accrued interest on the Notes is hereby expressly subordinated in right of payment, in the manner and all other obligations (all of to the foregoingextent hereinafter expressly set forth, a "Payment or Distribution") on such Notes to the prior payment in full of any all Senior Indebtedness (as hereinafter defined), whether outstanding on the date hereof or hereafter created, incurredincurred or assumed. The Holders, assumed or guaranteedby their acceptance of the Notes, the Notes agree to and shall comply with be bound by the provisions of this Section 8, and each Holder by his acceptance thereof likewise agreeshereof.