Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 12 contracts
Samples: Subordinated Indenture (Achieve Life Sciences, Inc.), Subordinated Indenture (Biolife Solutions Inc), Subordinated Indenture (Oncogenex Pharmaceuticals, Inc.)
Obligation of the Company Unconditional. Nothing contained in this Article Twelve or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Twelve of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Twelve, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Twelve.
Appears in 9 contracts
Samples: Subordinated Indenture (Eex Corp), Subordinated Indenture (Ccci Capital Trust Iii), Junior Subordinated Indenture (Ccci Capital Trust Iii)
Obligation of the Company Unconditional. Nothing ------------------------------------------- contained in this Article Ten or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Debenture is intended to or shall impair, as between the Company, its creditors other than the holders Holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentures the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentures and creditors of the Company Company, other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Ten of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Ten, the Trustee Trustee, subject to the provisions of Sections 7.01 and 7.02, and the Holders of the Subordinated Securities Debentures shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated SecuritiesDebentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Ten. Nothing contained in this Article Ten or elsewhere in this Indenture or in any Debenture is intended to or shall affect the obligation of the Company to make or prevent the Company from making, at any time except during the pendency of any dissolution, winding-up, liquidation or reorganization proceeding, payments at any time of the principal of or interest on the Debentures.
Appears in 7 contracts
Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York)
Obligation of the Company Unconditional. Nothing contained --------------------------------------- in this Article Ten or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Debenture is intended to or shall impair, as between the Company, its creditors other than the holders Holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentures the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentures and creditors of the Company Company, other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Ten of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Ten, the Trustee Trustee, subject to the provisions of Sections 7.01 and 7.02, and the Holders of the Subordinated Securities Debentures shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated SecuritiesDebentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Ten. Nothing contained in this Article Ten or elsewhere in this Indenture or in any Debenture is intended to or shall affect the obligation of the Company to make or prevent the Company from making, at any time except during the pendency of any dissolution, winding-up, liquidation or reorganization proceeding, payments at any time of the principal of or interest on the Debentures.
Appears in 6 contracts
Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York), Indenture (Intervest Mortgage Corp)
Obligation of the Company Unconditional. Nothing contained in this Article Ten or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Debenture is intended to or shall impair, as between the Company, its creditors other than the holders Holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentures the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentures and creditors of the Company Company, other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Ten of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Ten, the Trustee Trustee, subject to the provisions of Sections 7.01 and 7.02, and the Holders of the Subordinated Securities Debentures shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated SecuritiesDebentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Ten. Nothing contained in this Article Ten or elsewhere in this Indenture or in any Debenture is intended to or shall affect the obligation of the Company to make or prevent the Company from making, at any time except during the pendency of any dissolution, winding-up, liquidation or reorganization proceeding, payments at any time of the principal of or interest on the Debentures.
Appears in 6 contracts
Samples: Indenture (Intervest Mortgage Corp), Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York)
Obligation of the Company Unconditional. Nothing contained in this Article 6 or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 6 of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 6, the Trustee Trustee, subject to the provisions of Sections 9.01 and 9.02, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person Person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 6. Nothing contained in this Article 6 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation or reorganization proceeding, and except during the continuance of any default specified in Section 6.02 (not cured or waived), payments at any time of the principal of or interest on the Securities.
Appears in 6 contracts
Samples: Indenture (Toll Corp), Indenture (Toll Brothers Inc), Indenture (Toll Brothers Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Fourteen or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Fourteen, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Fourteen.
Appears in 6 contracts
Samples: Indenture (Oge Energy Capital Trust Ii), Indenture (NSP Financing Ii), Indenture (Oge Energy Capital Trust Ii)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness of the Company and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a representative of such holder or a trustee under any indenture under which any instruments evidencing any such Senior Indebtedness of the Company may have been issued) to establish that such notice has been given by a holder of such Senior Indebtedness of the Company or such representative or trustee on behalf of such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Company to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Company held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the right of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment or distribution.
Appears in 5 contracts
Samples: Subordinated Indenture (Pp&l Capital Funding Trust I), Subordinated Indenture (Aep Capital Trust Iii), Subordinated Indenture (Southwestern Electric Power Co)
Obligation of the Company Unconditional. Nothing contained in this Article 4 or elsewhere in this Subordinated Indenture or in the Subordinated Securities Note is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the Subordinated Securitiesthis Note, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities this Note the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities on this Note as and when the same shall become due and payable in accordance with their its terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities this Note and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Security this Note of this Note from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated IndentureNote, subject to the rights, if any, under this Article 4 of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy; provided, however, that the holder of this Note shall not exercise any remedies if the exercise of such remedies would result in an event of default under the terms of the Senior Indebtedness. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 4, the Trustee and the Holders holders of the Subordinated Securities this Note shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated Securities, this Note for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 4. In no event shall any provision of this Article 4 be interpreted as limiting or abrogating the right of the holder of this Note to convert principal and interest thereon pursuant to Article 3 of this Note.
Appears in 5 contracts
Samples: Convertible Subordinated Note (China Education Alliance Inc.), Convertible Note Agreement (China Education Alliance Inc.), Convertible Note Agreement (China Education Alliance Inc.)
Obligation of the Company Unconditional. Nothing contained in this Article One or elsewhere otherwise in this Subordinated Indenture or in the Subordinated Securities Note is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the this Subordinated SecuritiesNote, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the this Subordinated Securities Note the principal of (and premium, if any) and interest payable in the respect of the on this Subordinated Securities Note as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders holder of the this Subordinated Securities Note and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Security this Subordinated Note from exercising all remedies otherwise permitted by applicable law upon an event of default under this Subordinated IndentureNote, subject to the limitations, if any, under this Article One or the rights of Holders to exercise rights and remedies, and subject to the rights, if any, under this Article One of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle One, the Trustee and the Holders holder of the this Subordinated Securities Note shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the this Subordinated SecuritiesNote, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle One.
Appears in 5 contracts
Samples: Subordinated Note (Consolidated Delivery & Logistics Inc), Subordinated Note (Consolidated Delivery & Logistics Inc), 7% Subordinated Note (Consolidated Delivery & Logistics Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Fourteen or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in interest, if any, on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Fourteen, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such liquidation, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Fourteen.
Appears in 4 contracts
Samples: Indenture (Public Service Co of Colorado), Indenture (Public Service Co of Colorado), Indenture (Baltimore Gas & Electric Co)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities Debentures is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated SecuritiesDebentureholders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentureholders the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentureholders and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debentureholder from exercising all remedies otherwise permitted by applicable law upon default an Event of Default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities Debentureholders shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or and the Trustee, subject to the provisions of Section 7.1, and the Debentureholders shall be entitled to rely upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, Debentureholders for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 4 contracts
Samples: Indenture (Republic Bancshares Inc), Indenture (Republic Bancshares Inc), Indenture (Bankatlantic Bancorp Inc)
Obligation of the Company Unconditional. Nothing contained in this Article XIII or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in interest, if any, on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article XIII of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle XIII, the Trustee Trustee, subject to the provisions of Section 6.01, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such liquidation, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle XIII.
Appears in 4 contracts
Samples: Junior Subordinated Indenture (Nationwide Financial Services Inc/), Junior Subordinated Indenture (Nationwide Financial Services Inc/), Subordinated Indenture (Hartford Life Capital Iii)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable on and any Additional Amounts in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 4 contracts
Samples: Indenture (Worldcom Inc /Ga/), Indenture (Pep Boys Manny Moe & Jack), Indenture (Developers Diversified Realty Corp)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Debt Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such bankruptcy, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the receiver, trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any such payment or distribution, distribution delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 3 contracts
Samples: Indenture (North Carolina Natural Gas Corp), Indenture (Carolina Power & Light Co), Indenture (For Subordinated Debt Securities) (Florida Power Corp /)
Obligation of the Company Unconditional. Nothing contained in this Article 13 or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, Securities the obligation obligations of the Company, Company which is are absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor of the Company nor, except as expressly provided in this Article 13, shall anything herein or therein in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 13 of the holders of Senior Indebtedness of the Company, in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 13, the Trustee Trustee, subject to the provisions of Section 6.1, and the Holders of the Subordinated Securities endorsed thereon shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, Securities for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, Company the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 13. Nothing contained in this Article 13 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligations of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation (total or partial) or similar proceeding, and except during the continuance of any event specified in Section 13.2 (not cured or waived), payments at any time of the principal of (or premium, if any) or interest on the Securities.
Appears in 3 contracts
Samples: Indenture (At&t Wireless Services Inc), Indenture (Icos Corp / De), Indenture (Esterline Technologies Corp)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture the subordination provisions set forth herein or in the documents evidencing the Subordinated Securities Indebtedness is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the Subordinated SecuritiesIndebtedness, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities Indebtedness the principal of (and premium, if any) and interest payable in the respect of on the Subordinated Securities Indebtedness as and when the same shall become due and payable in accordance with their its terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities Indebtedness and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or holder of the Holder of any Security Subordinated Indebtedness from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenturelaw, subject to the rights, if any, under this Article the subordination provisions set forth herein of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Articleherein, the Trustee and the Holders holder of the Subordinated Securities Indebtedness shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated SecuritiesIndebtedness, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Articlehereto.
Appears in 3 contracts
Samples: Credit Agreement (Covanta Holding Corp), Credit and Guaranty Agreement (Covanta Holding Corp), Credit and Guaranty Agreement (Covanta Holding Corp)
Obligation of the Company Unconditional. Nothing contained in this Article 12 or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is are absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in interest, if any, on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor of the Company, nor, except as expressly provided in this Article 12, shall anything herein or therein in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 12 of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 12, the Trustee Trustee, subject to the provisions of Section 6.1, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securitiessecurities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 12. Nothing contained in this Article 12 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligations of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation (total or partial) or similar proceeding, and except during the continuance of any event specified in Section 12.2 (not cured or waived), payments at any time of the principal of (or premium, if any) or interest, if any, on the Securities.
Appears in 3 contracts
Samples: Indenture (Ual Corp /De/), Indenture (Ual Corp /De/), Indenture (Ual Corp Capital Trust I)
Obligation of the Company Unconditional. Nothing contained in this Article 13 or elsewhere in this Subordinated Indenture or in the any Subordinated Securities Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of on the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Subordinated Security from exercising all remedies otherwise permitted by applicable law upon default an Event of Default under this Subordinated Indenture, subject to the rights, if any, under this Article 13 of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 13, the Trustee Trustee, subject to the provisions of Sections 6.01 and 6.03, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 13.
Appears in 3 contracts
Samples: Indenture (Leucadia National Corp), Indenture (Leucadia National Corp), Indenture (Leucadia National Corp)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities Investment Notes is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and interest and premium, if any) and interest payable in , on the respect of the Subordinated Securities Investment Notes as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default an Event of Default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or and the Trustee, subject to the provisions of Section 6.1, and the Holders shall be entitled to rely upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 3 contracts
Samples: Indenture (Levitt Corp), Indenture (Levitt Corp), Indenture (Levitt Corp)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture Annex A or in the Subordinated Securities Note is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the Subordinated SecuritiesNote, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities Note the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Note as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities Note and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein (except to the extent set forth in this Annex A) prevent the Trustee or holder of the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law and this Annex A upon an event of default under this Subordinated Indenturethe Note, subject to the rights, if any, under this Article Annex A of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleAnnex A, the Trustee and the Holders holder of the Subordinated Securities Note shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated SecuritiesNote, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article.Annex A.
Appears in 3 contracts
Samples: Term Loan Agreement (Sky Chefs Argentine Inc), Credit Agreement (Sky Chefs Argentine Inc), Convertible Subordinated Note (Vitaminshoppecom Inc)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets assets, cash or property or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a representative of such holder or a trustee under any indenture under which any instruments evidencing any such Senior Indebtedness may have been issued) to establish that such notice has been given by a holder of such Senior Indebtedness or such representative or trustee on behalf of such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness, or its representative or representatives or trustee or trustees under any indenture under which any instruments evidencing any such Senior Indebtedness may have been issued, to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the right of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment or distribution.
Appears in 2 contracts
Samples: Indenture (FPL Group Trust II), Indenture (Florida Power & Light CO Trust II)
Obligation of the Company Unconditional. Nothing contained ---------------------------------------- in this Article Ten or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Debenture is intended to or shall impair, as between the Company, its creditors other than the holders Holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentures the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentures and creditors of the Company Company, other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Ten of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Ten, the Trustee Trustee, subject to the provisions of Sections 7.01 and 7.02, and the Holders of the Subordinated Securities Debentures shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated SecuritiesDebentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness Indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Ten. Nothing contained in this Article Ten or elsewhere in this Indenture or in any Debenture is intended to or shall affect the obligation of the Company to make or prevent the Company from making, at any time except during the pendency of any dissolution, winding-up, liquidation or reorganization proceeding, payments at any time of the principal of or interest on the Debentures.
Appears in 2 contracts
Samples: Indenture (Intervest Mortgage Corp), Indenture (Intervest Mortgage Corp)
Obligation of the Company Unconditional. Nothing contained in this Article Twelve or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, Indenture subject to the rights, if any, under this Article Twelve of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Twelve, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Twelve.
Appears in 2 contracts
Samples: Subordinated Indenture (Fund American Co Inc/New), Subordinated Indenture (Fund American Co Inc/New)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness of the Company and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets assets, cash or property or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a representative of such holder or a trustee under any indenture under which any instruments evidencing any such Senior Indebtedness of the Company may have been issued) to establish that such notice has been given by a holder of such Senior Indebtedness of the Company or such representative or trustee on behalf of such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness, or its representative or representatives or trustee or trustees under any indenture under which any instruments evidencing any such Senior Indebtedness of the Company may have been issued, to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Company held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the right of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment or distribution.
Appears in 2 contracts
Samples: Indenture (FPL Group Inc), Indenture (FPL Group Capital Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Fourteen or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred 50 58 to in this ArticleArticle Fourteen, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Fourteen.
Appears in 2 contracts
Samples: Indenture (American Heritage Life Investment Corp), Indenture (American Heritage Life Investment Corp)
Obligation of the Company Unconditional. Nothing contained in this Article 11 or elsewhere in this Subordinated Indenture or in the Subordinated Debt Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Debt Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Debt Securities the principal of (and of, premium, if any) , and interest payable in interest, if any, on the respect of the Subordinated Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Debt Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Debt Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 11, the Trustee Trustee, subject to the provisions of Section 7.01, and the Holders of the Subordinated Debt Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such liquidation, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Debt Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 11.
Appears in 2 contracts
Samples: Subordinated Indenture (CVS Caremark Corp), Subordinated Indenture (CVS Caremark Corp)
Obligation of the Company Unconditional. Nothing contained in this Article Section 11 or elsewhere in this Subordinated Indenture Note or any of the other Transaction Documents (as defined in the Subordinated Securities Agreement) is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the Subordinated Securitiesthis Note, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities this Note the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities and Payments on this Note as and when the same shall become due and payable in accordance with their its terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities this Note and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Security this Note from exercising all remedies otherwise permitted by applicable law upon an event of default under this Subordinated IndentureNote, subject to the rightsprovisions of this Section 11 and Section 6 of this Note, if any, under this Article including the rights of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities assets of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleSection 11, the Trustee and the Holders holder of the Subordinated Securities this Note shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated Securitiesthis Note, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleSection 11. Subject to Section 11(c)(iii), this Section 11 shall not impair the ability of a holder of a Note to declare an Event of Default.
Appears in 2 contracts
Samples: Note Purchase Agreement (Quokka Sports Inc), Note Purchase Agreement (Quokka Sports Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Thirteen or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Thirteen of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Thirteen, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Thirteen.
Appears in 2 contracts
Samples: Subordinated Indenture (Plains Exploration & Production Co), Subordinated Indenture (Plains E&p Co)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Debt Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in (including Additional Interest) on the respect of the Subordinated Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or any Holder [(or to the Holder extent expressly provided herein, the holder of any Security from Trust Preferred Security)]from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such bankruptcy, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the receiver, trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any such payment or distribution, distribution delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 2 contracts
Samples: Indenture (Cp&l Energy Inc), Indenture (Progress Energy Inc)
Obligation of the Company Unconditional. Nothing contained --------------------------------------- in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained --------------------------------------- in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable on and any additional amounts owing in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Indenture (Homestead Village Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Fourteen or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Fourteen, the Trustee Trustee, subject to the provisions of Section 601, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Fourteen.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture the subordination provisions set forth herein or in the documents evidencing the Subordinated Securities Indebtedness is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders holder of the Subordinated SecuritiesIndebtedness, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities Indebtedness the principal of (of, interest on and premium, if any) and interest payable all other amounts in the respect of the Subordinated Securities Indebtedness as and when the same shall become due and payable in accordance with their its terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities Indebtedness and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or holder of the Holder of any Security Subordinated Indebtedness from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenturelaw, subject to the rights, if any, under this Article the subordination provisions set forth herein of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Articleherein, the Trustee and the Holders holder of the Subordinated Securities Indebtedness shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated SecuritiesIndebtedness, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Articlehereto.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing --------------------------------------- contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable on and any Additional Amounts in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect 110 the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article 13 or elsewhere in this Subordinated Indenture or in the any Subordinated Securities Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of on the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Subordinated Security from exercising all remedies otherwise permitted by applicable law upon default an Event of Default under this Subordinated Indenture, subject to the rights, if any, under this Article 13 of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 13, the Trustee Trustee, subject to the provisions of Sections 6.01 and 6.03, and the Holders of the Subordinated Securities shall be entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction in which any such insolvency, bankruptcy, dissolution, winding up, liquidation liquidation, reorganization or reorganization proceeding affecting the affairs of the Company is pending similar proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiverliquidating trustee, assignee for the benefit of creditorscustodian, liquidating trustee receiver or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 13.
Appears in 1 contract
Samples: Indenture (Epicept Corp)
Obligation of the Company Unconditional. Nothing contained in this Article 4 or elsewhere in this Subordinated Indenture or in the Subordinated Securities Note is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated SecuritiesHolder, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holder of the Subordinated Securities this Note the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities on this Note as and when the same shall become due and payable in accordance with their its terms, or is intended to or shall affect the relative rights of the Holders holder of the Subordinated Securities this Note and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Security this Note of this Note from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated IndentureNote, subject to the rights, if any, under this Article 4 of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy; provided, however, that the Holder shall not exercise any remedies if the exercise of such remedies would result in an event of default under the terms of the Senior Indebtedness. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 4, the Trustee and the Holders of the Subordinated Securities Holder shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders holder of the Subordinated Securities, this Note for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 4. In no event shall any provision of this Article 4 be interpreted as limiting or abrogating the right of the Holder to convert principal and interest thereon pursuant to Article 3 of this Note.
Appears in 1 contract
Samples: Convertible Note Agreement (On Point Technology Systems Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Nine or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness In- debtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default Default under this Subordinated Indenture, subject to the rights, if any, under this Article Nine of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Nine, the Trustee Trustee, subject to the provisions of Sections 6.01 and 6.02, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Nine.
Appears in 1 contract
Samples: Indenture (Leucadia National Corp)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness of the Company and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a representative of such holder or a trustee under any indenture under which any instruments evidencing any such Senior Indebtedness of the Company may have been issued) to establish that such notice has been given by a holder of such Senior Indebtedness of the Company or such representative or trustee on behalf of such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Company to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Company held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the right of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment or distribution.
Appears in 1 contract
Samples: Junior Subordinated Indenture (Infinity Capital Trust I)
Obligation of the Company Unconditional. Nothing contained in --------------------------------------- this Article or elsewhere in this Subordinated Indenture Debenture Agreement or in the Subordinated Securities Debentures is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Debentures the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Debentures and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated IndentureDebenture Agreement, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities Debentures shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated SecuritiesDebentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture Agreement or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of amounts payable on the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated IndentureAgreement, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such bankruptcy, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the receiver, trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any such payment or distribution, distribution delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Contingent Value Obligation Agreement (Carolina Power & Light Co)
Obligation of the Company Unconditional. Nothing contained in this Article XIII or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in interest, if any, on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article XIII of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle XIII, the Trustee Trustee, subject to the provisions of Section 6.01, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such liquidation, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or -61- 68 other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle XIII.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness of the Company and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Subordinated Indenture (Pp&l Capital Funding Trust I)
Obligation of the Company Unconditional. Nothing contained in this Article 2 or elsewhere in this Subordinated Indenture or in the Subordinated Securities Note is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated SecuritiesRegistered Holder, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Registered Holder the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities on this Note as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Registered Holder and creditors of the Company other than the holders of the Senior Indebtedness Debt, nor shall anything herein or therein prevent the Trustee or the Registered Holder of any Security this Note from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated IndentureNote, subject to the rights, if any, under this Article 2 of the holders of Senior Indebtedness Debt in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy, it being understood that the Registered Holder shall not commence an action against the Company for failure to make payments if such payments may not be made to the Registered Holder pursuant to ths Article 2. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 2, the Trustee and the Holders holders of the Subordinated Securities this Note shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, Registered Holder for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 2.
Appears in 1 contract
Samples: Agreement and Accord and Satisfaction (Porta Systems Corp)
Obligation of the Company Unconditional. Nothing contained in this Article Eleven or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article Eleven of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Eleven, the Trustee Trustee, subject to the provisions of Section 7.01 and 7.02, and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Eleven. Nothing contained in this Article Eleven or elsewhere in this Indenture or in any Security is intended to or shall affect the obligation of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation or reorganization proceeding, and except during the continuance of any default specified in Section 11.02 (not cured or waived), payments at any time of the principal of or interest on the Securities.
Appears in 1 contract
Obligation of the Company Unconditional. (a) Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities or any Coupons is intended to or shall impair, as between the Company, its creditors other than the holders of Citigroup Funding Senior Indebtedness, Indebtedness and the Holders of the Subordinated Securitiesholders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities holders the principal of (and premium, if any) , and interest payable in on the respect of Securities and the Subordinated Securities amounts owed pursuant to any Coupons as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Citigroup Funding Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security holder from exercising all remedies otherwise permitted by applicable law upon default Default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Citigroup Funding Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. .
(b) Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities holders shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securitiesholders, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Citigroup Funding Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Indenture (Citigroup Funding Inc.)
Obligation of the Company Unconditional. Nothing contained in this Article 12 or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is Company that are absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor of the Company nor, except as expressly provided in this Article 12, shall anything herein or therein in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 12 of the holders of Senior Indebtedness of the Company, in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 12, the Trustee Trustee, subject to the provisions of Section 6.1, and the Holders of the Subordinated Securities endorsed thereon shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person Person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, Securities for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount amounts thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 12. Nothing contained in this Article 12 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligations of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation (total or partial) or similar proceeding, and except during the continuance of any event specified in Section 12.2 (not cured or waived), payments at any time of the principal of, or premium, if any, or interest on the Securities.
Appears in 1 contract
Samples: Indenture (Robbins & Myers Inc)
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Debt Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Debt Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Debt Securities the principal of (and premium, if any) and interest payable on and any additional amounts owing in the respect of the Subordinated Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Debt Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Debt Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Debt Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person Person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Debt Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Indenture (Perma-Pipe International Holdings, Inc.)
Obligation of the Company Unconditional. Nothing contained in this Article II or elsewhere in this Subordinated Indenture or in the Subordinated Debt Securities is intended to or shall impair, impair as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Debt Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Debt Securities the principal of (and of, premium, if any) , and interest payable in interest, if any, on the respect of the Subordinated Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Debt Securities and creditors of the Company other than the holders of the Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Debt Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 11, the Trustee Trustee, subject to the provisions of Section 7.01, and the Holders of the Subordinated Debt Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such liquidation, dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Debt Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 11.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article 14 or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable on and any additional amounts owing in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 14 of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 14, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 14.
Appears in 1 contract
Samples: Indenture (Fluor Corp)
Obligation of the Company Unconditional. Nothing contained in --------------------------------------- this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable on and any additional amounts owing in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Indenture (McLeodusa Inc)
Obligation of the Company Unconditional. Nothing contained in this Article --------------------------------------- Subordination Section or elsewhere otherwise in this Subordinated Indenture or in the Subordinated Securities Note is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated SecuritiesXxxxxx, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities Xxxxxx the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities on this Note as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities Xxxxxx and creditors of the Company other than the holders of the Senior Indebtedness Debt, nor shall anything herein or therein prevent the Trustee or the Holder of any Security Xxxxxx from exercising all remedies otherwise permitted by applicable law upon an event of default under this Subordinated IndentureNote, subject to the limitations, if any, under this Subordination Section or the rights of payees of Senior Debt to exercise rights and remedies, and subject to the rights, if any, under this Article Subordination Section of the holders of Senior Indebtedness Debt in respect of cash, property property, or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleSubordination Section, the Trustee and the Holders of the Subordinated Securities Xxxxxx shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated SecuritiesXxxxxx, for the purpose of ascertaining the persons entitled to participate in such payment or distributiondistribution to Xxxxxx, the holders of the Senior Indebtedness Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleSubordination Section. The Company agrees to notify Xxxxxx of any event of default under the Senior Debt documents.
Appears in 1 contract
Samples: Promissory Note (Video Update Inc)
Obligation of the Company Unconditional. Nothing contained in this Article 13 or elsewhere in this Subordinated Indenture or in the Subordinated Securities any Security is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, Company and the Holders of the Subordinated Securities, the obligation obligations of the Company, which is Company that are absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and of, premium, if any) , and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor of the Company nor, except as expressly provided in this Article 13, shall anything herein or therein in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article 13 of the holders of Senior Indebtedness of the Company, in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle 13, the Trustee Trustee, subject to the provisions of Section 6.1, and the Holders of the Subordinated Securities endorsed thereon shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending proceedings are pending, or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person Person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, Securities for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount amounts thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle 13. Nothing contained in this Article 13 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligations of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution, winding up, liquidation (total or partial) or similar proceeding, and except during the continuance of any event specified in Section 13.2 (not cured or waived), payments at any time of the principal of, or premium, if any, or interest on the Securities.
Appears in 1 contract
Samples: Indenture (Robbins & Myers Inc)
Obligation of the Company Unconditional. Nothing contained in this Article Three or elsewhere in this Subordinated Supplemental Indenture No. 4 or in the Subordinated Securities Notes is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness and the Holders of the Subordinated SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the such Holders of the Subordinated Securities the principal of (and premium, if any) any premium and interest payable in on the respect of the Subordinated Securities Notes as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of such Holders and the Holders of the Subordinated Securities and creditors of the Company other than the holders of such Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security the Notes from exercising all remedies otherwise permitted by this Indenture or applicable law upon default under this Subordinated IndentureSupplemental Indenture No. 4, subject to the rights, if any, under this Article Three of the holders of such Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received by the Trustee or the holders of the Notes upon the exercise of any such remedyremedy and the rights of the holders of such Senior Indebtedness to enforce the provisions of subparagraph (3) of the second paragraph of Section 3.01 against the Trustee and the Holders of the Notes. Upon any payment or distribution of assets of the Company referred to in this ArticleArticle Three, the Trustee and the Holders of the Subordinated Securities Notes shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding winding-up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated SecuritiesNotes, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ArticleArticle Three. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing itself to be a holder of Senior Indebtedness (or a trustee or representative on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness or a trustee or representative on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article Three, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article Three, and, if such evidence is not furnished, the Trustee may defer payment to such Person pending judicial determination as to the right of such Person to receive such payment.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between among the Company, its creditors other than the holders of Senior Indebtedness, Indebtedness of the Company and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets or securities of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any of a court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is proceedings are pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness of the Company and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article. The Trustee shall be entitled to conclusively rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a representative of such holder or a trustee under any indenture under which any instruments evidencing any such Senior Indebtedness of the Company may have been issued) to establish that such notice has been given by a holder of such Senior Indebtedness of the Company or such representative or trustee on behalf of such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Company to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Company held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the right of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment or distribution.
Appears in 1 contract
Samples: Subordinated Indenture (Southwestern Electric Power Co)
Obligation of the Company Unconditional. Nothing contained --------------------------------------- in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest payable in the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Obligation of the Company Unconditional. Nothing contained in this Article or elsewhere in this Subordinated Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Subordinated Securities the principal of (and interest and premium, if any) and interest payable in , on the respect of the Subordinated Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness Indebtedness, nor shall anything herein or therein prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default an Event of Default under this Subordinated Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash, property or Subordinated Securities securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders of the Subordinated Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or and the Trustee, subject to the provisions of Section 6.1, and the Holders shall be entitled to rely upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered distribution to the Trustee or to the Holders of the Subordinated Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon thereon, and all other facts pertinent thereto or to this Article.
Appears in 1 contract
Samples: Indenture (Levitt Corp)
