Common use of Reliance by Holders of Senior Debt on Subordination Provisions Clause in Contracts

Reliance by Holders of Senior Debt on Subordination Provisions. Each Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Debt of the Issuers, whether such Senior Debt was created or acquired before or after the issuance of the Notes, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt of the Issuers may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Trustee or the Holders and without impairing or releasing the subordination provided in this Article 10 or the obligations hereunder of the Holders to the holders of the Senior Debt of the Issuers, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt of the Issuers, or otherwise amend or supplement in any manner Senior Debt of the Issuers, or any instrument evidencing the same or any agreement under which Senior Debt of the Issuers is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt of the Issuers; (iii) release any Person liable in any manner for the payment or collection of Senior Debt of the Issuers; and (iv) exercise or refrain from exercising any rights against the Issuers and any other Person.

Reliance by Holders of Senior Debt on Subordination Provisions. (a) Each Holder by accepting a New Subordinated Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Debt of the IssuersDebt, whether such Senior Debt was created or acquired before or after the issuance of the New Subordinated Notes, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. Without in any way limiting . (b) This Article IX, the generality subordination effected hereby, and the rights of the foregoing paragraph, the holders of Senior Debt the obligations of each Holder arising hereunder, shall not be affected, modified or impaired in any manner or to any extent by (i) any amendment, modification or termination of or supplement to the Credit Agreements or any agreement, instrument or document executed or delivered pursuant thereto or any other document relating to or creating Senior Debt, (ii) the validity or enforceability of any such documents, or (iii) the release, sale, exchange or surrender in whole or in part of any collateral security, now or hereafter existing, for any of the Issuers maySenior Debt, at now or hereafter arising, or (iv) any time and from time to timeexercise or non-exercise of any right, without the consent of power or notice to the Trustee remedy under or the Holders, without incurring responsibility to the Trustee or the Holders and without impairing or releasing the subordination provided in this Article 10 or the obligations hereunder of the Holders to the holders respect of the Senior Debt or any of the Issuers, do any one or more of the following: instruments and documents referred to in clause (i) change the mannerabove, place now or terms of payment or extend the time of payment ofhereafter arising, or renew arising at law, or alter(v) any waiver, consent, release, indulgence, extension, increase, renewal, modification, delay or other action, inaction, or omissions in respect to the Senior Debt or any of the Issuers, instruments and documents referred to in clause (i) above now or otherwise amend or supplement in any manner Senior Debt of the Issuershereafter arising, or any instrument evidencing the same collateral security relating thereto, in each case whether or nor any agreement under which Senior Debt Holder shall have had notice or knowledge of any of the Issuers is outstanding; (ii) sellforegoing and whether or not it shall have consented thereto, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt and none of the Issuers; (iii) release foregoing shall give rise to any Person liable right or claim of any kind in any manner for favor of the payment or collection Holders against the holders of Senior Debt in respect of the Issuers; and (iv) exercise or refrain from exercising any rights against the Issuers and any other Personright of subrogation arising hereunder.

Reliance by Holders of Senior Debt on Subordination Provisions. Each Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each No right of any present or future holder of any Senior Debt to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the IssuersCompany or by any act or failure to act, whether in good faith, by any such Senior Debt was created or acquired before or after the issuance of the Notes, to acquire and continue to holdholder, or to continue to holdby any noncompliance by the Company with the terms, such Senior Debt provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder of such Senior Debt shall may have or otherwise be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debtcharged with. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt of the Issuers may, at any time and from time to time, without the consent of or notice to the Trustee or the HoldersSecurityholders, without incurring responsibility to the Trustee or the Holders Securityholders and without impairing or releasing the subordination provided in this Article 10 14 or the obligations hereunder of the Holders holders of the Securities to the holders of the such Senior Debt of the IssuersDebt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such Senior Debt of the IssuersDebt, or otherwise amend or supplement in any manner such Senior Debt of the Issuers, or any instrument evidencing the same or any agreement under which such Senior Debt of the Issuers is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior Debt of the IssuersDebt; (iii) release any Person liable in any manner for the payment or collection of such Senior Debt of the IssuersDebt; and (iv) exercise or refrain from exercising any rights against the Issuers Company, as the case may be, and any other Person.

Reliance by Holders of Senior Debt on Subordination Provisions. (a) Each Holder holder by accepting a Senior Subordinated Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Debt of the Issuers, whether such Senior Debt was created or acquired before or after the issuance of the Senior Subordinated Notes, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. . (b) Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt of the Issuers may, at any time and from time to time, without the consent of or notice to the Trustee or the Holdersholders, without incurring responsibility to the Trustee or the Holders holders and without impairing or releasing the subordination provided in this Article 10 or the obligations hereunder of the Holders holders to the holders of the Senior Debt of the Issuers, do any one or more of the following: : (i1) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt of the Issuers, or otherwise amend or supplement in any manner Senior Debt of the Issuers, or any instrument evidencing the same or any agreement under which Senior Debt of the Issuers is outstanding; ; (ii2) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt of the Issuers; ; (iii3) release any Person liable in any manner for the payment or collection of Senior Debt of the Issuers; and and (iv4) exercise or refrain from exercising any rights against the Issuers and any other Person.

Reliance by Holders of Senior Debt on Subordination Provisions. (a) Each Holder holder by accepting a Senior Subordinated Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Debt of the Issuersa Guarantor, whether such Senior Debt was created or acquired before or after the issuance of the Senior Subordinated Notes, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. . (b) Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt of the Issuers a Guarantor may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Trustee or the Holders holders and without impairing or releasing the subordination provided in this Article 10 11 or the obligations hereunder of the Holders to the holders of the Senior Debt of the Issuersa Guarantor, do any one or more of the following: : (i1) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt of the Issuersa Guarantor, or otherwise amend or supplement in any manner Senior Debt of the Issuersa Guarantor, or any instrument evidencing the same or any agreement under which Senior Debt of the Issuers a Guarantor is outstanding; ; (ii2) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt of the Issuers; a Guarantor; (iii3) release any Person liable in any manner for the payment or collection of Senior Debt of the Issuersa Guarantor; and and (iv4) exercise or refrain from exercising any rights against the Issuers Guarantors and any other Person.

Reliance by Holders of Senior Debt on Subordination Provisions. Each The Holder by accepting a this Note acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of any Senior Debt of the Issuers, whether such Senior Debt was created or acquired before or after the issuance of the Notesthis Note, to acquire and continue to hold, or to continue to hold, such Senior Debt and such holder of such Senior Debt shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Debt. Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt of the Issuers may, at any time and from time to time, without the consent of or notice to the Trustee or the HoldersHolder, without incurring responsibility to the Trustee or the Holders Holder and without impairing or releasing the subordination provided in this Article 10 Section 7 or the obligations hereunder of the Holders Holder to the holders of the Senior Debt of the Issuers, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt of the Issuers, or otherwise amend or supplement in any manner Senior Debt of the Issuers, or any instrument evidencing the same or any agreement under which Senior Debt of the Issuers is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt of the Issuers; (iii) release any Person liable in any manner for the payment or collection of Senior Debt of the Issuers; and (iv) exercise or refrain from exercising any rights against the Issuers and any other Person.