Prohibition on Incurrence of Senior Subordinated Debt. The Company shall not, and shall not permit any Restricted Subsidiary that is a Guarantor to, incur or suffer to exist Indebtedness that is senior in right of payment to the Securities or such Guarantor's Guarantee, as the case may be, and subordinate in right of payment to any other Indebtedness of the Company or such Guarantor, as the case may be.
Prohibition on Incurrence of Senior Subordinated Debt. The Company will not incur or suffer to exist Indebtedness that by its terms is senior in right of payment to the Notes and subordinate in right of payment to any other Indebtedness of the Company.
Prohibition on Incurrence of Senior Subordinated Debt. Neither the Company nor any Guarantor shall incur Indebtedness that is senior in right of payment to the Notes or such Guarantor’s Guarantee and subordinate in right of payment to any other Indebtedness of the Company or such Guarantor, as the case may be.
Prohibition on Incurrence of Senior Subordinated Debt. The Company shall not incur or suffer to exist Indebtedness that is senior in right of payment to the Notes and subordinate in right of payment to any other Indebtedness of the Company.
Prohibition on Incurrence of Senior Subordinated Debt. The Company will not incur or suffer to exist Indebtedness that is senior in right of payment to the Notes and subordinate in right of payment to any other Indebtedness of the Company. For purposes of the foregoing the phrase “subordinate in right of payment” means debt subordination only and not lien subordination, and accordingly, (i) unsecured indebtedness shall not be deemed to be subordinated in right of payment to secured indebtedness merely by virtue of the fact that it is unsecured and (ii) junior liens, second liens and other contractual arrangements that provide for priorities among holders of the same or different issues of indebtedness with respect to any collateral or the proceeds of collateral shall not constitute subordination in right of payment.
Prohibition on Incurrence of Senior Subordinated Debt. Xxxxxx Publishing will not, and will not permit any Restricted Subsidiary that is a Guarantor to, incur or suffer to exist Indebtedness that is senior in right of payment to the Notes or such Guarantor’s Guarantee, as the case may be, and subordinate in right of payment to any other Indebtedness of Xxxxxx Publishing or such Guarantor, as the case may be.
Prohibition on Incurrence of Senior Subordinated Debt. The Issuers and the Guarantors shall not incur or suffer to exist Indebtedness that is senior in right of payment by its terms to the Securities or any Guarantee and subordinate in right of payment by its terms to any other Indebtedness of such Issuers or such Guarantor, as the case may be.
Prohibition on Incurrence of Senior Subordinated Debt. Neither the Company nor any Subsidiary Guarantor will incur or suffer to exist Indebtedness that is senior in right of payment to the Notes or such Subsidiary Guarantor's Subsidiary Guarantee and subordinate in right of payment to any other Indebtedness of the Company or such Subsidiary Guarantor, as the case may be.
Prohibition on Incurrence of Senior Subordinated Debt. The Company shall not incur or permit to exist Indebtedness that is senior in right of payment to the Notes and subordinate or junior in right of payment to any other Senior Debt of the Company. No Guarantor will incur or permit to exist Indebtedness that is subordinate or junior in right of payment to Guarantor Senior Debt of such Guarantor and senior in right of payment to such Guarantor's Guarantee.
Prohibition on Incurrence of Senior Subordinated Debt. Section 4.10. Limitation on Preferred Stock of Subsidiaries
