Common use of Obligation to Pay Not Impaired Clause in Contracts

Obligation to Pay Not Impaired. Nothing contained in this Article or elsewhere in this Indenture, or in the Securities, is intended to or shall alter or impair, as among the Company, its creditors other than the holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities at the time and place and at the rate and in the currency therein prescribed, or to affect the relative rights of the Holders of the 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 Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness to receive cash, property or securities otherwise payable or deliverable to the Holders of the Securities.

Obligation to Pay Not Impaired. Nothing contained in this Article Four or elsewhere in this Indenture, or in the Securities, is intended to or shall alter or impair, as among between the Company, its creditors other than the holders of Senior Indebtedness Indebtedness, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities at the time and place and at the rate and in the currency therein prescribed, or to affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders 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 Indenture, subject to the rightsright, if any, under this Article Four of the holders of the Senior Indebtedness to receive in respect of cash, property or securities otherwise payable or deliverable to the Holders of the SecuritiesCompany received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article Four or elsewhere in this Indenture, or in the Securities, is intended to or shall alter or impair, as among between the Company, its creditors other than the holders of Senior Indebtedness Indebtedness, and the Holders holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holders of the Securities the principal of (and premium, if any) and interest on the Securities at the time and place and at the rate and in the currency therein prescribed, or to affect the relative rights of the Holders holders of the 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 holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rightsright, if any, under this Article Four of the holders of the Senior Indebtedness to receive in respect of cash, property or securities otherwise payable or deliverable to the Holders of the SecuritiesCompany received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article Fourteen or elsewhere in this Indenture, or in the Securities, is intended to or shall alter or impair, as among between the Company, its creditors other than the holders of Senior Indebtedness Indebtedness, and the Holders holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holders of the Securities the principal of (and premium, if any) and interest on the Securities at the time and place and at the rate and in the currency therein prescribed, or to affect the relative rights of the Holders holders of the 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 holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rightsright, if any, under this Article Fourteen of the holders of the Senior Indebtedness to receive in respect of cash, property or securities otherwise payable or deliverable to the Holders of the SecuritiesCompany received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article Four or elsewhere in this Indenture, or in the SecuritiesDebentures, is intended to or shall alter or impair, as among between the Company, its creditors other than the holders of Senior Indebtedness Indebtedness, and the Holders holders of the SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders holders of the Securities Debentures the principal of (and premium, if any) and interest on the Securities Debentures at the time and place and at the rate and in the currency therein prescribed, or to affect the relative rights of the Holders holders of the Securities Debentures and creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rightsright, if any, under this Article Four of the holders of the Senior Indebtedness to receive in respect of cash, property or securities otherwise payable or deliverable to the Holders of the SecuritiesCompany received upon the exercise of any such remedy.