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. The Company will not, and will not permit any Guarantor to, incur or suffer to exist Indebtedness that is senior in right of payment to the Securities or the Guarantee of such Guarantor 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. Section 4.10. Limitation on Preferred Stock of Subsidiaries
Prohibition on Incurrence of Senior Subordinated Debt. The Issuer will not, directly or indirectly, incur, create, issue, assume, guarantee or otherwise become liable for any Debt that is expressly subordinated or junior in right of payment to any Senior Debt of the Issuer and senior in any respect in right of payment to the Securities, and (b) the Issuer will not, directly or indirectly, permit any Guarantor to incur, create, issue, assume, guarantee or otherwise become liable for any Debt that is expressly subordinated or junior in right of payment to its Guarantor Senior Debt and senior in any respect in right of payment to its Guarantee.
