Reliance by Holders of Senior Indebtedness of the ------------------------------------------------- Company on Subordination Provisions. Each Securityholder by accepting a Security ----------------------------------- 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 Indebtedness of the Company, whether such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of such Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.
Reliance by Holders of Senior Indebtedness on Subordination Provisions 72 Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. PIONEER ENERGY SERVICES CORP. Certain Sections of the this Subordinated Indenture relating to Sections 310 - 318, inclusive, of the Trust Indenture Act of 1939, as amended Trust Indenture Act Section Indenture Section 310(a)(1) 6.09 (a)(2) 6.09 (a)(3) N.A. (a)(4) N.A. (a)(5) 6.09 (b) 6.08, 6.10 (c) N.A. 311(a) 6.13 (b) 6.13 (c) N.A. 312(a) 7.01, 7.02 (b) 7.02 (c) 7.02 313(a) 7.03 (b)(1) N.A. (b)(2) 7.03 (c) 7.03 (d) 7.03 314(a) 7.04 (a)(4) 1.04,10.04 (b) N.A. (c)(1) 1.02 (c)(2) 1.02 (c)(3) N.A. (d) N.A. (e) 1.02 (f) N.A. 315(a) 6.01 (b) 6.02 (c) 6.01 (d) 6.01 (e) 5.14 316(a)(last sentence) 1.01 (a)(1)(A) 5.02, 5.12 (a)(1)(B) 5.13 (a)(2) N.A. (b) 5.08 (c) 1.04 317(a)(1) 5.03 (a)(2) 5.04 (b) 10.03 318(a) 1.07 (b) N.A. (c) 1.07 * N.A. means inapplicable.
Reliance by Holders of Senior Indebtedness. Each holder of this Note acknowledges and agrees that each holder of Senior Indebtedness, whether outstanding at the date of this Note or incurred hereafter, shall have extended credit to the Company, or shall have purchased or accepted or will purchase or accept such Senior Indebtedness, in reliance upon the subordination and standstill provisions contained in this Note.
Reliance by Holders of Senior Indebtedness. The Company 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 Indebtedness, whether such Senior Indebtedness was created or acquired before or after the date of this Agreement, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness. The Company hereby acknowledges and agrees that the Agent and Administrative Agent are each an intended third party beneficiary of each of the provisions of this Section 14 and no amendment or modification to this Note that adversely affects the rights of any holder of Senior Indebtedness or changes this provision may be made unless (i) if any Senior Indebtedness is outstanding under the Loan Agreement or Lenders have any obligation to make advances under the Loan Agreement, the Agent and (ii) if any Senior Indebtedness is outstanding under the Note Purchase Agreement or the Notes, the Administrative Agent, as the case may be, consent in writing to such amendment. At any time and from time to time, without consent of or notice to Holder, solely in its capacity as Holder, and not in any other capacity, and without impairing or affecting the obligations of Holder hereunder: (i) the time for the Company’s performance of, or compliance with any agreement relating to Senior Indebtedness may be modified or extended or such performance may be waived; (ii) a holder of Senior Indebtedness may exercise or refrain from exercising any rights under any agreement relating to the Senior Indebtedness; (iii) any agreement relating to the Senior Indebtedness may be revised, amended or otherwise modified for the purpose of adding or changing any provision thereof or changing in any manner the rights of the Company, any holder of Senior Indebtedness or any guarantor thereunder; (iv) payment of Senior Indebtedness or any portion thereof may be accelerated or extended or refunded or any instruments evidencing the Senior Indebtedness may be renewed in whole or in part; (v) any Person liable in any manner for payment of the Senior Indebtedness may be released by a holder of Senior Indebtedness; (vi) a holder of Senior Indebtedness may make loans or otherwise extend credit to the Company whether or not any default or ...
Reliance by Holders of Senior Indebtedness. Each Holder, by the Holder’s acceptance thereof, acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration to each holder of Senior Indebtedness of any Guarantor, regardless of whether such Senior Indebtedness was acquired before or after the issuance of the Notes or any relevant Note Guarantee, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.
Reliance by Holders of Senior Indebtedness. This Amendment may be relied upon by holders of any Senior Indebtedness (as defined in the Note Purchase Agreement). Dresdner hereby agrees not to challenge or contest the validity, legality, binding effect or enforceability of the provisions set forth in paragraph 6P of the Note Purchase Agreement or the priority, validity, legality, binding effect or enforceability of the terms and provisions of the Senior Debt Documents (as defined in the Note Purchase Agreement) or the rights of the holders of the Senior Indebtedness in the property and assets of the Company.
Reliance by Holders of Senior Indebtedness. Each Senior Subordinated Lender acknowledges and agrees that the foregoing provisions of this Article X and Section 12.01(h) are, and are intended to be, an inducement and a consideration to each holder of Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the Borrowing, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.
Reliance by Holders of Senior Indebtedness on --------------------------------------------- Subordination Provisions. Each Securityholder by accepting a Security ------------------------- 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 Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness; provided, however, that no such holder of Senior -------- ------- Indebtedness shall be so deemed to have relied upon the foregoing subordination provisions in acquiring or in continuing to hold such Senior Indebtedness on or after the Subordination Termination Date.
Reliance by Holders of Senior Indebtedness. DIMAC Operating Noteholders and the Lenders on Subordination Provisions. Each Securityholder by accepting a Security 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 Indebtedness of the Company, each DIMAC Operating Noteholder and each Lender, whether the Senior Obligation was created or acquired before or after the issuance of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness or DIMAC Operating Note, and such holder of such Senior Indebtedness of the Company, DIMAC Operating Noteholder or Lender, as the case may be, shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness or DIMAC Operating Note, as the case may be.
Reliance by Holders of Senior Indebtedness. Each Holder of any Series K Note, by his purchase or acceptance thereof, agrees that the subordination provisions of this Article are, and are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Series K Notes, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.
