Common use of Obligation to Pay Not Impaired Clause in Contracts

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the Trust, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the Trust, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or affect the relative rights of the holders of the Debentures and creditors of the Trust other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 of the holders of Senior Indebtedness.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the TrustCompany, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the TrustCompany, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or affect the relative rights of the holders of the Debentures and creditors of the Trust Company other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the Intercreditor Agreement, any Intercreditor Arrangement and the rights, if any, under this Article 5 of the holders of Senior Secured Indebtedness.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the TrustCorporation, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the TrustCorporation, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or affect the relative rights of the holders of the Debentures and creditors of the Trust Corporation other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Indenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 of the holders of Senior IndebtednessIndebtedness in respect of cash, property or securities of the Corporation received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the TrustCorporation, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the TrustCorporation, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or affect the relative rights of the holders of the Debentures and creditors of the Trust Corporation other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 of the holders of Senior IndebtednessIndebtedness in respect of cash, property or securities of the Corporation received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the Trust, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the Trust, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the holders of the Debentures and creditors of the Trust other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 of the holders of Senior Indebtedness.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 4 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the TrustCorporation, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the TrustCorporation, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become due and payable in accordance with their terms, or affect the relative rights of the holders of the Debentures and creditors of the Trust Corporation other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Debenture Indenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 4 of the holders of Senior IndebtednessIndebtedness in respect of cash, property or securities of the Corporation received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the TrustREIT, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the TrustREIT, which is absolute and unconditional, to pay to the holders of the Debentures the principal of and interest on the Debentures, as and when the same shall become becomes due and payable in accordance with their terms, ; or affect the relative rights of the holders of the Debentures and creditors of the Trust REIT other than the holders of the Senior Indebtedness, nor shall ; or will anything herein or therein prevent the Debenture Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 5 of the holders of Senior IndebtednessIndebtedness in respect of cash, property or securities of the REIT received upon the exercise of any such remedy.