Common use of Rights of Holders of Senior Debt Clause in Contracts

Rights of Holders of Senior Debt. The provisions of this Article X shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X shall be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this Article X or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, 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, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or be

Rights of Holders of Senior Debt. The provisions of this Article X paragraph 11G shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X paragraph 11G shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company Parent or by any act or failure to act by any such holder, or by any non-compliance by the Company Parent with the terms, provisions and covenants of this Agreement or the Notes. paragraph 11G. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this Article X paragraph 11G or the obligations hereunder DAL02:222894.12 002328 41 of the holders of the Notes to the holders of Senior Debt, do any one or more of the following, subject in all cases to the limitations contained in the definition of Senior Debt: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alteralter (including, without limitation, by increasing or decreasing the "Availability Limit" and the "Debt Limit," in each case as defined in the Credit Agreement pursuant to which Senior Debt is incurred), or waive defaults under under, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or pledged, mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company Parent and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or be.

Rights of Holders of Senior Debt. The provisions of this Article X paragraph 7 shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X paragraph 7 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this Article X paragraph 7 or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, do any one or more of the following, subject in all cases to the limitations contained in the definition of Senior Debt: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alteralter (including, without limitation, by increasing or decreasing the "Availability Limit" and the "Debt Limit," in each case as defined in the Credit Agreement pursuant to which Senior Debt is incurred), or waive defaults under under, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or pledged, mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or bePARAGRAPH EVENTS OF DEFAULT.

Rights of Holders of Senior Debt. The provisions of this Article X shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X shall be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes or the Subordinated Contingent Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes or of the Subordinated Contingent Notes, and without impairing or releasing the subordination provided in this Article X or the obligations hereunder of the holders of the Notes or of the Subordinated Contingent Notes to the holders of Senior Debt, 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, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or be reinstated as of the date immediately prior to payment in full of the Senior Debt, as the case may be, if at any time payment, or any part thereof, of any of Senior Debt is rescinded or must otherwise be restored or returned by the holders of Senior Debt upon occurrence of an event described in Section 10.01(a), or otherwise, all as though such payments had not been made.

Rights of Holders of Senior Debt. The provisions of this Article X shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive Without the benefits hereof) and may be enforced by such holders, and no right necessity of any present reservation of rights against or future holder any notice to or further assent by the Purchasers, (a) any demand for payment of any Senior Debt to enforce subordination as provided in this Article X shall be prejudiced or impaired made by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of may be rescinded in whole or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this Article X or the obligations hereunder of the holders of the Notes to part by the holders of Senior Debt, do Debt and 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, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt may be increased, continued, renewed or any instrument evidencing extended to the same or any agreement under which extent permitted by this Agreement, (b) the holders of Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) may exercise or refrain from exercising any rights and remedies against the Company and any other Personothers, including any guarantor or surety. The provisions of this Article X shall continue (c) subject to be effectiveSection 5.10(b), the Senior Debt, or beany collateral security therefor or right of offset with respect thereto, may be extended, modified, accelerated, compromised, waived, surrendered, released or left unperfected by the holders of Senior Debt, (d) subject to Section 5.10(b), any agreement or instrument evidencing, securing, guaranteeing or otherwise relating to the Senior Debt may be amended, modified, supplemented, renewed, replaced, refinanced or left unperfected, (e) the holders of the Senior Debt may waive any condition to advancing funds under the Senior Debt and (f) the holders of the Senior Debt and the Company may agree to actions or inaction which may constitute defaults under the Debentures or may take or refrain from taking any action whether or not it affects the subrogation rights of the holders of the Senior Debt and whether or not such action would otherwise constitute a defense or counterclaim to the Company or the holders of the Senior Debt’s obligations hereunder, all without impairing, abridging, releasing or affecting the subordination provided for herein or the Company or such Purchasers’ obligations hereunder.

Rights of Holders of Senior Debt. The subordination provisions of this Article X Note shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X Note shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the NotesNote. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the NotesHolder, and without impairing or releasing the subordination provided in this Article X Note or the obligations hereunder of the holders of the Notes Holder to the holders of Senior Debt, 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, or waive defaults under Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iii) sell, exchange, release or otherwise deal with all or any part of the property by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, Senior Debt; (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue ; and (v) apply any sums, by whomsoever paid or however realized, to be effective, or beSenior Debt.

Rights of Holders of Senior Debt. The provisions of this Article X paragraph 7 shall be deemed a continuing offer to all holders of Senior Debt to act in reliance on such provisions (but no such reliance shall be required to be proven to receive the benefits hereof) and may be enforced by such holders, holders and no right of any present or future holder of any Senior Debt to enforce subordination as provided in this Article X paragraph 7 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Agreement or the Notes. Without in any way limiting the generality of the foregoing, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the holders of the Notes, and without impairing or releasing the subordination provided in this Article X paragraph 7 or the obligations hereunder of the holders of the Notes to the holders of Senior Debt, do any one or more of the following, subject in all cases to the limitations contained in the definition of Senior Debt: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alteralter (including, without limitation, by increasing or decreasing the "Availability Limit" and the "Debt Limit," in each case as defined in the Credit Agreement pursuant to which Senior Debt is incurred), or waive defaults under under, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged or pledged, mortgaged to secure or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and any other Person, including any guarantor or surety. The provisions of this Article X shall continue to be effective, or be.