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 Subordinated Debt 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 Subordinated Debt Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed

Reliance by Holders of Senior Indebtedness on Subordination Provisions. Each Holder by accepting a Subordinated Debt Security 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 Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Subordinated Debt SecuritiesNote, to acquire and continue to hold, or to continue to hold, hold such Senior Indebtedness and such holder of Senior Indebtedness shall be deemeddeemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold such Senior Indebtedness.