Common use of Obligation of the Issuer Unconditional Clause in Contracts

Obligation of the Issuer Unconditional. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair as between the Issuer and the Holders of the Securities, the obligation of the Issuer, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Issuer under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) on the Securities as and when the same shall become due and payable in accordance with the terms of the Securities, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Issuer other than the holders of the Issuer Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Securities from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Issuer Senior Indebtedness in respect of cash, property or securities of the Issuer received by the exercise of any such remedy.

Obligation of the Issuer Unconditional. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair as between the Issuer and the Holders holders of the SecuritiesSecurities and Coupons, the obligation of the Issuer, which is absolute and unconditional, to pay to the Holders holders of the Securities or Coupons the principal of (and premium, if any) and interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Issuer under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) on the Securities as and when the same shall become due and payable in accordance with the terms of the Securitiesthereof, or is intended to or shall affect the relative rights of the Holders holders of the he Securities and Coupons and creditors of the Issuer other than the holders of the Issuer Senior IndebtednessIndebtedness of the Issuer, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Securities Security or Coupon from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Issuer Senior Indebtedness of the Issuer in respect of cash, property or securities of the Issuer received by upon the exercise of any such remedy.

Obligation of the Issuer Unconditional. Nothing -------------------------------------- contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair as between the Issuer and the Holders of the Securities, the obligation of the Issuer, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Issuer under any applicable bankruptcy, insolvency or similar law now or hereafter in effect) on the Securities as and when the same shall become due and payable in accordance with the terms of the Securities, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Issuer other than the holders of the Issuer Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Securities from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Issuer Senior Indebtedness in respect of cash, property or securities of the Issuer received by the exercise of any such remedy.