Common use of Obligations Unimpaired Clause in Contracts

Obligations Unimpaired. Nothing contained in this Article 5, or elsewhere in this Agreement, or in the Convertible 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 Convertible Notes, the obligation of the Company, which shall be absolute and unconditional, to pay the holders of the Convertible Notes the principal of and interest on the Convertible Notes as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders of the Convertible Notes and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 of the holders of Senior Indebtedness in respect to cash, property or securities of the Company received upon the exercise of any such remedy. Nothing contained in this Article 5 or elsewhere in this Agreement, or in any of the Convertible Notes, shall prevent the Company from making payment of the principal of or interest on the Convertible Notes at any time except under the conditions described in Section 5.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Company.

Obligations Unimpaired. Nothing contained in this Article 5, or elsewhere in this Agreement, or in the Convertible 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 Convertible Notes, the obligation of the Company, which shall be absolute and unconditional, to pay the holders of the Convertible Notes the principal of and interest on the Convertible Notes as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders of the Convertible Notes and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 of the holders of Senior Indebtedness in respect to cash, property or securities of the Company received upon the exercise of any such remedy. Nothing contained in this Article 5 or elsewhere in this Agreement, or in any of the Convertible Notes5, shall prevent the Company from making payment of the principal of or interest interest, if applicable, on the Convertible Notes at any time except under the conditions described in Section 5.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Company.

Obligations Unimpaired. Nothing contained in this Article 5V, or elsewhere in this Agreement, or in the Convertible 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 Convertible Notes, the obligation of the Company, which shall be absolute and unconditional, to pay the holders of the Convertible Notes the principal of and interest on the Convertible Notes as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders of the Convertible Notes and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 V of the holders of Senior Indebtedness in respect to cash, property or securities of the Company received upon the exercise of any such remedy. Nothing contained in this Article 5 V or elsewhere in this Agreement, or in any of the Convertible Notes, shall prevent the Company from making payment of the principal of or interest on the Convertible Notes at any time except under the conditions described in Section 5.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Company.

Obligations Unimpaired. Nothing contained in this Article 5, or elsewhere in this Agreement, or in the Convertible NotesDebentures, is intended to or shall impair as between the Company, its creditors other than the holders of Senior Indebtedness, and the holders of the Convertible NotesDebentures, the obligation of the Company, which shall be absolute and unconditional, to pay the holders of the Convertible Notes Debentures the principal of and interest on the Convertible Notes Debentures as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders of the Convertible Notes Debentures and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes Debentures from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 of the holders of Senior Indebtedness in respect to cash, property or securities of the Company received upon the exercise of any such remedy. Nothing contained in this Article 5 or elsewhere in this Agreement, or in any of the Convertible NotesDebentures, shall prevent the Company from making payment of the principal of or interest on the Convertible Notes Debentures at any time except under the conditions described in Section 5.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Company.

Obligations Unimpaired. Nothing contained in this Article 5, or elsewhere in this Agreement, or in the Convertible Notes, Section 9 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 Convertible NotesNoteholders, the obligation of the Company, which shall be absolute and unconditional, to pay to the holders of the Convertible Notes Noteholders the principal of and interest on the Convertible Notes as and when the same shall become due and payable in accordance with the terms thereof, or is intended to or shall affect the relative rights against the Company of the holders of the Convertible Notes Noteholders and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes Noteholder from exercising all remedies otherwise permitted by applicable law upon default under this Agreementdefault, subject to the rights, if any, under this Article 5 Section 9 of the holders of Senior Indebtedness in respect to of any required notice of the exercise of any such remedy or cash, property property, or securities of the Company received upon otherwise payable or deliverable to such holder. Each Noteholder by his acceptance thereof shall be deemed to acknowledge and agree that the exercise subordination provisions of this Section 9 are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness, whether such remedy. Nothing contained Senior Indebtedness, was created or acquired before or after the issuance of the Notes, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and each holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in this Article 5 or elsewhere in this Agreementacquiring and continuing to hold, or in any of the Convertible Notescontinuing to hold, shall prevent the Company from making payment of the principal of or interest on the Convertible Notes at any time except under the conditions described in Section 5.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Companysuch Senior Indebtedness.

Obligations Unimpaired. Nothing contained in this Article 5Section 6, or elsewhere in this Agreement, or in the Convertible NotesNote, is intended to or shall impair as between the Company, its creditors other than the holders of Senior Indebtedness, and the holders Holder of the Convertible NotesNote, the obligation of the Company, which shall be absolute and unconditional, to pay the holders Holder of the Convertible Notes Note the principal Principal Amount of and interest on the Convertible Notes Note as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders Holder of the Convertible Notes Note and other creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder Holder of any Convertible Notes the Note from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 Section 6 of the holders of Senior Indebtedness in respect to cash, property or securities of the Company received upon the exercise of any such remedy. Nothing contained in this Article 5 Section 6 or elsewhere in this Agreement, or in any of the Convertible NotesNote, shall prevent the Company from making payment of the principal Principal Amount of or interest on the Convertible Notes Note at any time except under the conditions described in Section 5.2 6.2 or 5.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the Company6.3.

Obligations Unimpaired. Nothing contained in this Article 5VI, or elsewhere in this Agreement, or in the Convertible Notes, is intended to or shall impair as between the CompanySeller, its creditors other than the holders of Senior Indebtedness, and the holders of the Convertible Notes, the obligation of the CompanySeller, which shall be absolute and unconditional, to pay the holders of the Convertible Notes the principal of and interest on the Convertible Notes as and when the same shall become due and payable in accordance with the terms thereof, or affect the relative rights of the holders of the Convertible Notes and other creditors of the Company Seller other than the holders of Senior Indebtedness, nor shall anything herein or therein prevent the holder of any Convertible Notes from exercising all remedies otherwise permitted by applicable law upon default under this Agreement, subject to the rights, if any, under this Article 5 VI of the holders of Senior Indebtedness in respect to cash, property or securities of the Company Seller received upon the exercise of any such remedy. Nothing contained in this Article 5 VI or elsewhere in this Agreement, or in any of the Convertible Notes, shall prevent the Company Seller from making payment of the principal of or interest on the Convertible Notes at any time except under the conditions described in Section 5.2 6.2 or 5.3 6.3 or during the pendency of any dissolution, winding up, liquidation or reorganization of the CompanySeller.