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

Reliance by Holders of Senior Indebtedness on Subordination Provisions. Each Holder by accepting a Debenture 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 Debentures, 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, and no amendment or modification of the provisions contained herein shall diminish the rights of such holders of Senior Indebtedness unless such holders shall have agreed in writing thereto.

Reliance by Holders of Senior Indebtedness on Subordination Provisions. (a) Each Holder by accepting a Debenture 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 DebenturesSecurities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness 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 continue to hold, such Senior Indebtedness. Each Holder of Securities, and no amendment or modification by its acceptance hereof, waives all notice of acceptance of the subordination provisions contained herein shall diminish the rights of such holders by each Holder of Senior Indebtedness unless of the Company, whether now outstanding or hereafter incurred, and waives reliance by each such holders shall have agreed in writing theretoholder upon said provisions.

Reliance by Holders of Senior Indebtedness on Subordination Provisions. Each Holder The holder of this Note by accepting a Debenture such holder's acceptance hereof, 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 IndebtednessIndebtedness of the Company, whether such Senior Indebtedness was created created, assumed or acquired before or after the issuance of the Debenturesdate hereof, 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, and no amendment or modification of the provisions contained herein shall diminish the rights of such holder or holders of Senior Indebtedness unless such holder or holders shall have agreed in writing thereto.