Rights of Holders of Senior Indebtedness. Not To Be Impaired, etc. (a) No right of any present or future holder of any Senior Indebtedness to enforce the subordination and other terms and conditions provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act by any such holder, or by any noncompliance by the Corporation, with the terms and provisions and covenants herein regardless of any knowledge thereof that any such holder may have or otherwise be charged with. (b) Article 3 and this Article 5 may not be amended without the written consent of each holder of the Senior Indebtedness and of the Holder, and any purported amendment without such consent shall be void. No holder of Senior Indebtedness shall be prejudiced in such holder's right to enforce the subordination and other terms and conditions of this Note by any act or failure to act by the Corporation or anyone in custody of its assets or property.
Appears in 2 contracts
Samples: Non Negotiable Subordinated Note (Jordan Industries Inc), Non Negotiable Subordinated Note (Jordan Industries Inc)
Rights of Holders of Senior Indebtedness. Not To Be -------------------------------------------------- Impaired, etc.. -------------
(a) No right of any present or future holder of any Senior Indebtedness to enforce the subordination and other terms and conditions provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act by any such holder, or by any noncompliance by the Corporation, with the terms and provisions and covenants herein regardless of any knowledge thereof that any such holder may have or otherwise be charged with.
(b) Article 3 and this Article 5 This Section 6 may not be amended without the written consent of each holder of the Senior Indebtedness and of the Holder, and any purported amendment without such consent shall be void. No holder of Senior Indebtedness shall be prejudiced in such holder's right to enforce the subordination and other terms and conditions of this Note by any act or failure to act by the Corporation or anyone in custody of its assets or property.
Appears in 1 contract
Samples: Non Negotiable Subordinated Note (Motors & Gears Inc)
Rights of Holders of Senior Indebtedness. Not To Be Impaired, etc.
(a) No right of any present or future holder of any Senior Indebtedness to enforce the subordination and other terms and conditions provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act by any such holder, or by any noncompliance by the Corporation, with the terms and provisions and covenants herein regardless of any knowledge thereof that any such holder may have or otherwise be charged with.
(b) Article 3 and this This Article 5 may not be amended without the written consent of each holder of the Senior Indebtedness and of the Holder, and any purported amendment without such consent shall be void. No holder of Senior Indebtedness shall be prejudiced in such holder's right to enforce the subordination and other terms and conditions of this Note by any act or failure to act by the Corporation or anyone in custody of its assets or property.
Appears in 1 contract
Samples: Non Negotiable Junior Subordinated Note (Jordan Industries Inc)
Rights of Holders of Senior Indebtedness. Not To Be Impaired, etc.
(a) No right of any present or future holder of any Senior Indebtedness to enforce the subordination and other terms and conditions provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act by any such holder, or by any noncompliance by the Corporation, with the terms and provisions and covenants herein regardless of any knowledge thereof that any such holder may have or otherwise be charged with.
(b) Article 3 III and this Article 5 V may not be amended without the written consent of each holder of the Senior Indebtedness and of the Holder, and any purported amendment without such consent shall be void. No holder of Senior Indebtedness shall be prejudiced in such holder's right to enforce the subordination and other terms and conditions of this Note by any act or failure to act by the Corporation or anyone in custody of its assets or property.
Appears in 1 contract