Common use of Prior Payment of Senior Indebtedness in Bankruptcy, etc Clause in Contracts

Prior Payment of Senior Indebtedness in Bankruptcy, etc. In the event of any insolvency or bankruptcy proceedings relative to the Issuer or its property, or any receivership, liquidation, reorganization or other similar proceedings in connection therewith or, in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Issuer or distribution or marshaling of its assets or any composition with creditors of the Issuer, whether or not involving insolvency or bankruptcy, or if the Issuer shall cease its operations, call a meeting of its creditors or no longer do business as a going concern (each individually or collectively, an "Event"), then all Senior Indebtedness shall be indefeasibly paid in full and satisfied in cash before any Distribution shall be made on account of the Securities. Any such Distribution which would, but for the provisions hereof, be payable or deliverable in respect of the Securities shall be paid or delivered directly to the Agent for the ratable benefit of the Senior Lenders, until all amounts owing upon the Senior Indebtedness shall have been indefeasibly paid in full in cash.

Prior Payment of Senior Indebtedness in Bankruptcy, etc. In the event of any insolvency or bankruptcy proceedings relative to the Issuer any Company or its property, or any receivership, liquidation, reorganization or other similar proceedings in connection therewith therewith, or, in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Issuer any Company or distribution or marshaling marshalling of its assets or any composition with creditors of the Issuerany Company, whether or not involving insolvency or bankruptcy, or if the Issuer any Company shall cease its operations, call a meeting of its creditors or no longer do business as a going concern (each individually or collectively, an "Event"), then all Senior Indebtedness shall be indefeasibly paid in full and satisfied in cash and the Security Agreement irrevocably terminated before any Distribution shall be made on account of the Securitiesany Subordinated Indebtedness. Any such Distribution which would, but for the provisions hereof, be payable or deliverable in respect of the Securities Subordinated Indebtedness, shall be paid or delivered directly to Senior Lender or its representatives, in the Agent for proportions in which they hold the ratable benefit of the Senior Lenderssame, until all amounts owing upon the Senior Indebtedness shall have been indefeasibly paid in full in cashcash and the Security Agreement irrevocably terminated.

Prior Payment of Senior Indebtedness in Bankruptcy, etc. In the event of any insolvency or bankruptcy proceedings relative to the Issuer Company or its property, or any receivership, liquidation, reorganization or other similar proceedings in connection therewith or, in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Issuer Company or distribution or marshaling of its assets or any composition with creditors of the IssuerCompany, whether or not involving insolvency or bankruptcy, or if the Issuer Company shall cease its operations, call a meeting of its creditors or no longer do business as a going concern (each individually or collectively, an "Event"), then all Senior Indebtedness shall be indefeasibly paid in full and satisfied in cash before any Distribution shall be made on account of the SecuritiesNotes. Any such Distribution which would, but for the provisions hereof, be payable or deliverable in respect of the Securities Notes shall be paid or delivered directly to the Agent for the ratable benefit of the Senior Lenders, until all amounts owing upon the Senior Indebtedness shall have been indefeasibly paid in full in cash.

Prior Payment of Senior Indebtedness in Bankruptcy, etc. In the event of any insolvency or bankruptcy proceedings relative to the Issuer Company or its property, or any receivership, liquidation, reorganization or other similar proceedings in connection therewith therewith, or, in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Issuer Company or distribution or marshaling marshalling of its assets or any composition with creditors of the IssuerCompany, whether or not involving insolvency or bankruptcy, or if the Issuer Company shall cease its operations, call a meeting of its creditors or no longer do business as a going concern (each individually or collectively, an "Event"), then all Senior Indebtedness shall be indefeasibly paid in full and satisfied in cash and the Loan Agreement irrevocably terminated before any Distribution shall be made on account of the Securitiesany Subordinated Indebtedness. Any such Distribution which would, but for the provisions hereof, be payable or deliverable in respect of the Securities Subordinated Indebtedness, shall be paid or delivered directly to Senior Lender or its representatives, in the Agent for proportions in which they hold the ratable benefit of the Senior Lenderssame, until all amounts owing upon the Senior Indebtedness shall have been indefeasibly paid in full in cashcash and the Loan Agreement irrevocably terminated.

Prior Payment of Senior Indebtedness in Bankruptcy, etc. In the event of any insolvency or bankruptcy proceedings relative to the Issuer Company, Guarantor or its their respective property, or any receivership, liquidation, reorganization or other similar proceedings in connection therewith therewith, or, in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Issuer Company, Guarantor or distribution or marshaling marshalling of its assets or any composition with creditors of the IssuerCompany or Guarantor, whether or not involving insolvency or bankruptcy, or if the Issuer Company or Guarantor shall cease its operations, call a meeting of its creditors or no longer do business as a going concern (each individually or collectively, an "Event"), ) then all Senior Indebtedness shall be indefeasibly paid in full and satisfied in cash and any commitments to provide advances under the Senior Lending Agreements and the Senior Subordinated Lending Agreements terminated before any Distribution shall be made on account of the Securitiesany Subordinated Indebtedness. Any such Distribution which would, but for the provisions hereof, be payable or deliverable in respect of the Securities Subordinated Indebtedness, shall be paid or delivered directly first, to the Agent for Senior Lender or its representatives, in the ratable benefit of proportions in which they hold the Senior Lenderssame, until all amounts owing upon the Senior Indebtedness shall have been indefeasibly paid in full in cash.owing