Common use of Reliance on Subordination Provisions; Amendments Clause in Contracts

Reliance on Subordination Provisions; Amendments. (a) Each Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions in Section 10.01(d) and this Article Eleven are intended to be an inducement and a consideration to any and all holders of existing and future Senior Debt of a Subsidiary Guarantor to acquire and continue to hold, or to continue to hold such Senior Debt and such holders of 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 and no amendment or modification of the provisions contained herein shall diminish the rights of any such holder of Senior Debt unless such holder shall have agreed in writing thereto. (b) The Parent Guarantor and each Subsidiary Guarantor agree, for the benefit of each existing and future holder of Senior Debt that, as long as any Existing Ardagh Bonds or any amounts under the indentures governing the Existing Ardagh Bonds remain outstanding, no amendment or modification of the provisions of such indentures shall diminish the rights of any such holder of Senior Debt unless such holder shall have agreed in writing thereto.