Common use of Other Rights of Holders of Senior Indebtedness Clause in Contracts

Other Rights of Holders of Senior Indebtedness. All rights and interests under this Indenture of the holders of Senior Indebtedness, and all agreements and obligations of the Trustee, the Holders and the Issuer under this Article shall remain in full force and effect irrespective of (i) any lack of validity or enforceability of the Credit Facility, and promissory notes evidencing the Credit Facility or any other agreement or instrument relating thereto or to any other Senior Indebtedness or (ii) any other circumstance that might constitute a defense available to, or a discharge of, a guarantor or surety (other than as a result of any payments indefeasibly made on the Credit Facility or any other Senior Indebtedness). The holders of Senior Indebtedness are hereby authorized to demand specific performance of this Article, whether or not the Issuer shall have complied with any provisions of this Article applicable to it, at any time when the Trustee or any Holder shall have failed to comply with any of these provisions. The provisions of this Article shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness upon the insolvency, bankruptcy or reorganization of the Issuer or otherwise, all as though such payment had not been made.

Appears in 2 contracts

Samples: Indenture (Multicare Companies Inc), Genesis Eldercare Acquisition Corp

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Other Rights of Holders of Senior Indebtedness. All rights and interests under this Indenture of the holders of Senior Indebtedness, and all agreements and obligations of the Trustee, the Holders of the Notes and the Issuer Company under this Article shall remain in full force and effect irrespective of (i) any lack of validity or enforceability of the Credit Facility, and promissory notes evidencing the Credit Facility or any other agreement or instrument relating thereto or to any other Senior Indebtedness or (ii) any other circumstance that might constitute a defense available to, or a discharge of, a guarantor or surety (other than as a result of any payments indefeasibly made on the Credit Facility or any other Senior Indebtedness). The holders of Senior Indebtedness are hereby authorized to demand specific performance of this Article, whether or not the Issuer Company shall have complied with any provisions of this Article applicable to it, at any time when the Trustee or any Holder of the Notes shall have failed to comply with any of these provisions. The provisions of this Article shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness upon the insolvency, bankruptcy or reorganization of the Issuer Company or otherwise, all as though such payment had not been made.

Appears in 2 contracts

Samples: Indenture (Genesis Health Ventures Inc /Pa), Indenture (Genesis Health Ventures Inc /Pa)

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Other Rights of Holders of Senior Indebtedness. All rights and interests under this Indenture of the holders of Senior Indebtedness, and all agreements and obligations of the Trustee, the Holders of the Securities and the Issuer Company under this Article shall remain in full force and effect irrespective of (ia) any lack of validity or enforceability of the New Bank Credit FacilityAgreement, and promissory notes evidencing the New Bank Credit Facility Agreement or any other agreement or instrument relating thereto or to any other Senior Indebtedness or (iib) any other circumstance that might constitute a defense available to, or a discharge of, a guarantor or surety (other than as a result of any payments indefeasibly made on the New bank Credit Facility Agreement or any other Senior Indebtedness). The holders of Senior Indebtedness are hereby authorized to demand specific performance of this Article, whether or not the Issuer Company shall have complied with any provisions of this Article applicable to it, at any time when the Trustee or any Holder of the Securities shall have failed to comply with any of these provisions. 103 The provisions of this Article shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Senior Indebtedness is rescinded or must otherwise be returned by any holder of Senior Indebtedness upon the insolvency, bankruptcy or reorganization of the Issuer Company or otherwise, all as though such payment had not been made.

Appears in 1 contract

Samples: Intercompany Agreement (Vencor Inc)

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