Common use of Scope of Section Clause in Contracts

Scope of Section. The provisions of this Section 1.06 are intended solely for the purpose of defining the relative rights of the holder of the Note, on the one hand, and the holders of the Senior Debt on the other hand. Nothing contained in this Section 1.06 or elsewhere in this Agreement or the Note is intended to or shall impair, as between the Company and its creditors, other than the holders of Senior Debt, and the holder of the Note, the obligation of the Company, which is unconditional and absolute, to pay to the holder of the Note the principal of and interest on the Note as and when the same shall become due and payable in accordance with the terms thereof, or to affect the relative rights of the holders of the Senior Debt, nor shall anything herein or therein prevent the holder of the Note from accepting any payment, with respect to such Note or exercising all remedies otherwise permitted by applicable law upon default under such Note, subject to the rights, if any, under this Section 1.06 of the holders of Senior Debt in respect of cash, property or notes of the Company received by the holders of the Notes.

Scope of Section. The provisions of this Section 1.06 1.6 are intended ----------------- solely for the purpose of defining the relative rights of the holder holders of the NoteNotes, on the one hand, and the holders of the Senior Debt Debt, on the other hand. Nothing contained in this Section 1.06 or elsewhere in this Agreement or the Note Notes is intended to or shall impair, as between the Company and its creditors, other than the holders of Senior Debt, and the holder holders of the NoteNotes, the obligation of the Company, which is unconditional and absolute, to pay to the holder holders of the Note Notes the principal of and interest on the Note Notes as and when the same shall become due and payable in accordance with the terms thereof, or to affect the relative rights of the holders of the Senior Debt, nor shall anything herein or therein prevent the holder of the any Note from accepting any payment, payment with respect to such Note or exercising all remedies otherwise permitted by applicable law upon default under such Note, subject to the rights, if any, under this Section 1.06 of the holders of Senior Debt in respect of cash, property or notes of the Company received by the holders of the Notes.

Scope of Section. The provisions of this Section 1.06 are ----------------- intended solely for the purpose of defining the relative rights of the holder holders of the NoteNotes, on the one hand, and the holders of the Senior Debt Debt, on the other hand. Nothing contained in this Section 1.06 or elsewhere in this Agreement or the Note Notes is intended to or shall impair, as between the Company and its creditors, other than the holders of Senior Debt, and the holder holders of the NoteNotes, the obligation of the Company, which is unconditional and absolute, to pay to the holder holders of the Note Notes the principal of and interest on the Note Notes as and when the same shall become due and payable in accordance with the terms thereof, or to affect the relative rights of the holders of the Senior Debt, nor shall anything herein or therein prevent the holder of the any Note from accepting any payment, payment with respect to such Note or exercising all remedies otherwise permitted by applicable law upon default under such Note, subject to the rights, if any, under this Section 1.06 of the holders of Senior Debt in respect of cash, property or notes of the Company received by the holders of the NotesNotes .

Scope of Section. The provisions of this Section 1.06 are ---------------- intended solely for the purpose of defining the relative rights of the holder of the Note, on the one hand, and the holders of the Senior Debt on the other hand. Nothing contained in this Section 1.06 or elsewhere in this Agreement or the Note is intended to or shall impair, as between the Company and its creditors, other than the holders of Senior Debt, and the holder of the Note, the obligation of the Company, which is unconditional and absolute, to pay to the holder of the Note the principal of and interest on the Note as and when the same shall become due and payable in accordance with the terms thereof, or to affect the relative rights of the holders of the Senior Debt, nor shall anything herein or therein prevent the holder of the Note from accepting any payment, with respect to such Note or exercising all remedies otherwise permitted by applicable law upon default under such Note, subject to the rights, if any, under this Section 1.06 of the holders of Senior Debt in respect of cash, property or notes of the Company received by the holders of the NotesNote.