Common use of Obligations of the Issuers Unconditional Clause in Contracts

Obligations of the Issuers Unconditional. Nothing contained in this Article Ten or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors other than the holders of Senior Debt, and the Holders, the obligations of the Issuers, which are absolute and unconditional, to pay to the Holders the principal of, premium, if any, and any interest on the 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 and creditors of the Issuers other than the holders of the Senior Debt, nor shall anything herein or therein prevent the Holder of any Security or the Trustee on its behalf from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, in respect of cash, property or securities of the Issuers received upon the exercise of any such remedy.

Appears in 2 contracts

Samples: Indenture (Quality Distribution Inc), Indenture (Quality Distribution Inc)

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Obligations of the Issuers Unconditional. Nothing contained in this Article Ten or elsewhere in this Indenture or in the Securities Notes is intended to or shall impair, as among the CompanyIssuers, its their creditors other than the holders of Senior Debt, and the Holders, the obligations obligation of the Issuers, which are is absolute and unconditional, to pay to the Holders the principal of, premium, if any, of and any interest on the 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 the Holders and creditors of the Issuers other than the holders of the Senior Debt, nor shall anything herein or therein prevent the Holder of any Security Note or the Trustee on its behalf from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, of the holders of Senior Debt in respect of cash, property assets or securities of the Issuers Issuer or Co-Issuer received upon the exercise of any such remedy.

Appears in 1 contract

Samples: Indenture (Norcraft Companies Lp)

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Obligations of the Issuers Unconditional. Nothing contained in this Article Ten or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the CompanyIssuers, its their creditors other than the holders of Senior Debt, and the Holders, the obligations obligation of the Issuers, which are is absolute and unconditional, to pay to the Holders the principal of, premium, if any, and any interest on the 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 and creditors of the Issuers other than the holders of the Senior Debt, nor shall anything herein or therein prevent the Holder of any Security or the Trustee on its behalf from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, in respect of cash, property or securities of the Issuers received upon the exercise of any such remedy.

Appears in 1 contract

Samples: Indenture (RPP Capital Corp)

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