Ranking of the Notes. The Notes, when issued by the Company, will constitute senior indebtedness of the Company and will rank at least pari passu with all other existing and future secured Indebtedness of the Company (subject to any priority rights of such Indebtedness pursuant to applicable Laws) and senior in right of payment to all existing and future obligations of the Company expressly subordinated in right of payment to the Notes.
Ranking of the Notes. No Indebtedness of the Company, at the Closing, will be senior to, or pari passu with, the Notes in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise.
Ranking of the Notes. From the Original Issue Date until May 18, 2004, the Notes will be the Corporation’s direct, unsecured obligations and will rank without preference or priority among themselves and equally with all of the Corporation’s existing and future unsecured and subordinated indebtedness, subordinate and junior in right of payment to all of the Corporation’s Senior Indebtedness. On and after May 18, 2004, the Notes will become the Corporation’s direct, unsecured obligations and will rank without preference or priority among themselves and equally with all of the Corporation’s existing and future unsecured and unsubordinated indebtedness (including ranking equally with all prior unsubordinated Securities issued pursuant to the Original Indenture), senior in right of payment to all of the Corporation’s subordinated indebtedness.
Ranking of the Notes. (a) The Notes shall be subordinated to all Senior Indebtedness (as defined in this Eighteenth Supplemental Indenture) of the Company on the terms and subject to the conditions set forth in Article XII of the Base Indenture, and each Holder of Notes issued hereunder by such Holder’s acceptance thereof acknowledges and agrees that all Notes shall be issued subject to the provisions of this Article VI and such Article XII and that each Holder of Notes, whether upon original issuance or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. The Notes shall be “Subordinated Debt Securities” as such term is used in the Indenture, and, for purposes of the Notes only, and not for purposes of any other Debt Securities, all references in the Indenture to Senior Indebtedness of the Company shall mean Senior Indebtedness of the Company as defined in this Eighteenth Supplemental Indenture.
(b) The Notes shall be equal in rank and right of payment in all respects and are pari passu with the Subordinated Notes due 2066 and the Subordinated Notes due 2068.
Ranking of the Notes. The Notes shall be subordinated in right of payment and upon liquidation to all Senior Debt (as defined in this First Supplemental Indenture) of the Partnership on the terms and subject to the conditions set forth in Article XV of the Base Indenture, and each Holder of Notes issued hereunder by such Holder’s acceptance thereof acknowledges and agrees that all Notes shall be issued subject to the provisions of this Article VII and such Article XV and that each Holder of Notes, whether upon original issuance or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. For purposes of the Notes only, and not for purposes of any other Securities, all references in the Indenture to Senior Debt of the Partnership shall mean Senior Debt (as defined in this First Supplemental Indenture) of the Partnership.
Ranking of the Notes. The New Notes shall be expressly subordinated to and will rank junior to any funding provided by EnrichmentCo.
Ranking of the Notes. Other than Permitted Indebtedness, no Indebtedness of the Company is senior to the Notes in right of payment.
Ranking of the Notes. The Notes shall be subordinated in right of payment and upon liquidation to all Senior Debt (as defined in this First Supplemental Indenture) of the Company on the terms and subject to the conditions set forth in Article XIV of the Base Indenture (as amended and restated, for purposes of the Notes, in this First Supplemental Indenture), and each Holder of Notes issued hereunder by such Holder’s acceptance thereof acknowledges and agrees that all Notes shall be issued subject to the provisions of this Article VI and such Article XIV (as amended and restated, for purposes of the Notes, in this First Supplemental Indenture) and that each Holder of Notes, whether upon original issuance or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. For purposes of the Notes only, and not for purposes of any other Securities, all references in the Indenture to Senior Debt of the Company shall mean Senior Debt (as defined in this First Supplemental Indenture) of the Company.
Ranking of the Notes. The Notes shall constitute Senior Securities.
Ranking of the Notes. Notwithstanding:
(1) anything to the contrary contained in the Security Documents; (2) the time of incurrence of any Series of Secured Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Secured Debt; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Priority Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens, the Notes issued hereunder will be subject and subordinate to all Priority Liens securing Priority Lien Obligations. This Section 10.02 is intended for the benefit of, and will be enforceable as a third party beneficiary by, each present and future holder of Priority Lien Obligations, each present and future Priority Lien Representatives and the Priority Lien Collateral Agent as holder of the Priority Liens. No other Person will be entitled to rely on, have the benefit of or enforce those provisions. In addition, this Section 10.02 is intended solely to set forth the relative ranking, as Liens, of the Liens securing the Notes as against the Priority Liens. Neither the Notes nor the exercise or enforcement of any right or remedy for the payment or collection thereof are intended to be, or will ever be by reason of the foregoing provision, in any respect subordinated, deferred, postponed, restricted or prejudiced.
