PRIORITY OF SENIOR INDEBTEDNESS OF THE COMPANY UPON MATURITY. Upon the maturity of the principal of any Senior Indebtedness of the Company by lapse of time, acceleration or otherwise, all matured principal of Senior Indebtedness of the Company and interest and premium, if any, thereon shall first be paid in full before any payment of principal or premium, if any, or interest, if any, is made upon the Securities or before any Securities can be acquired by the Company or any sinking fund payment is made with respect to the Securities (except that required sinking fund payments may be reduced by Securities acquired before such maturity of such Senior Indebtedness of the Company).
Appears in 7 contracts
Samples: Junior Subordinated Indenture (Infinity Capital Trust I), Subordinated Indenture (Pp&l Capital Funding Trust I), Subordinated Indenture (Southwestern Electric Power Co)
PRIORITY OF SENIOR INDEBTEDNESS OF THE COMPANY UPON MATURITY. Upon the maturity of the principal of any Senior Indebtedness of the Company by lapse of time, acceleration or otherwise, all matured principal of Senior Indebtedness of the Company and interest interest, premium and premiumother payment obligation, if any, thereon shall first be paid in full before any payment of principal or premium, if any, or interest, if any, is made upon the Securities or before any Securities can be acquired by the Company or any sinking fund payment is made with respect to the Securities (except that required sinking fund payments may be reduced by Securities acquired before such maturity of such Senior Indebtedness of the Company).
Appears in 2 contracts
Samples: Indenture (FPL Group Capital Inc), Indenture (FPL Group Inc)
