Common use of Securities Subordinate to Senior Debt Clause in Contracts

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 175 contracts

Samples: Junior Subordinated Indenture (Paragon Commercial CORP), Junior Subordinated Indenture (Entegra Financial Corp.), Junior Subordinated Indenture (Wilshire Bancorp Inc)

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Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 16 contracts

Samples: Indenture (Comerica Capital Trust Ii), Indenture (Provident Capital Trust Iv), Junior Subordinated Indenture (Hl&p Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt, except as otherwise provided in Section 4.2.

Appears in 10 contracts

Samples: Junior Subordinated Indenture (Novastar Financial Inc), Junior Subordinated Indenture (Novastar Financial Inc), Junior Subordinated Indenture (Novastar Financial Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 9 contracts

Samples: Junior Subordinated Indenture (Great Wolf Resorts, Inc.), Junior Subordinated Indenture (Deerfield Triarc Capital Corp), Junior Subordinated Indenture (Comstock Homebuilding Companies, Inc.)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made (i) subordinate and subject in right of payment to the prior payment in full of all Senior Debt and (ii) senior and shall have a right of payment in full prior to the right of payment of the Junior Debt.

Appears in 6 contracts

Samples: Junior Subordinated Indenture (Anthracite Capital Inc), Junior Subordinated Indenture (Anthracite Capital Inc), Junior Subordinated Indenture (Anthracite Capital Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 6 contracts

Samples: Indenture (Boston Properties LTD Partnership), Indenture (Boston Properties LTD Partnership), Indenture (TPG Nv)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 6 contracts

Samples: Junior Subordinated Indenture (Bancorpsouth Inc), Junior Subordinated Indenture (Usb Holding Co Inc), Indenture (National City Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter hereafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 4 contracts

Samples: Junior Subordinated Indenture (Resource Capital Trust I), Junior Subordinated Indenture (Highlands Capital Trust I), Junior Subordinated Indenture (Guaranty Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Increased Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Temecula Valley Bancorp Inc), Junior Subordinated Indenture (Temecula Valley Bancorp Inc), Junior Subordinated Indenture (First Chester County Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt, except as otherwise provided in section 4.2.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Resource Capital Corp.), Junior Subordinated Indenture (Novastar Financial Inc), Junior Subordinated Indenture (Resource Capital Corp.)

Securities Subordinate to Senior Debt. The Company Operating Partnership covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Indenture (Vornado Realty Lp), Indenture (Vornado Realty Lp), Indenture (Vornado Realty Trust)

Securities Subordinate to Senior Debt. The Company Company, for itself, its successors and assigns, covenants and agrees, and each Holder of a Security, likewise covenants and agrees by its his acceptance thereof, likewise covenants and agrees, that, that the obligations of the Company to the extent and in the manner hereinafter set forth in this Article XII, the make any payment on account of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made shall be subordinate and subject junior, to the extent and in the manner hereinafter set forth, in right of payment and upon liquidation to the prior payment in full Company’s obligations to the holders of all Senior DebtDebt of the Company.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Evans Capital Trust III), Junior Subordinated Indenture (Bridge Statutory Capital Trust I), Trust Agreement (Privatebancorp Capital Trust Iv)

Securities Subordinate to Senior Debt. The Company Company, for itself, its successors and assigns, covenants and agrees, and each Holder of a Security, likewise covenants and agrees by its his acceptance thereof, likewise covenants that the obligations of the Company to make any payment on account of the principal of and agrees, thatinterest on each and all of the Securities shall be subordinate and junior, to the extent and in the manner hereinafter set forth in this Article XIIforth, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment and upon liquidation to the prior payment in full Company’s obligations to the holders of all Senior DebtDebt of the Company.

Appears in 3 contracts

Samples: Subordinated Notes Indenture (Bok Financial Corp Et Al), Subordinated Notes Indenture (Bok Financial Corp Et Al), Subordinated Notes Indenture (First Niagara Financial Group Inc)

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt of the Corporation.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Scana Corp), Junior Subordinated Indenture (Scana Corp), Junior Subordinated Indenture (South Carolina Electric & Gas Co)

Securities Subordinate to Senior Debt. The Except as otherwise provided in a supplemental indenture or pursuant to Section 301 the Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Indenture (Scholastic Corp), Indenture (Scholastic Corp), Indenture (Forest City Enterprises Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Silicon Valley Bancshares), Junior Subordinated Indenture (Silicon Valley Bancshares)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed).

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Validus Holdings LTD), Junior Subordinated Indenture (Validus Holdings LTD)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.. 60

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Simmons First National Corp), Junior Subordinated Indenture (Simmons First National Corp)

Securities Subordinate to Senior Debt. The Each of the Guarantor and the Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Thornburg Mortgage Inc), Junior Subordinated Indenture (Thornburg Mortgage Inc)

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Riggs Capital Ii), Junior Subordinated Indenture (Riggs National Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.. EXHIBIT D

Appears in 2 contracts

Samples: Trust Agreement (Hanmi Financial Corp), Trust Agreement (Hanmi Financial Corp)

Securities Subordinate to Senior Debt. The Company covenants ------------------------------------- and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter hereafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Commonwealth Bankshares Inc), Junior Subordinated Indenture (Commonwealth Bankshares Inc)

Securities Subordinate to Senior Debt. The Each of the Company and the Guarantor covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Subordinated Debt Indenture (Allianz Finance III B.V.), Subordinated Debt Indenture (Allianz Finance III B.V.)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Twelve), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Nextlink Communications LLC)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article VIII), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Transtexas Gas Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the ------------ principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Indenture (First Banks, Inc)

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Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article VIII), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Transtexas Gas Corp)

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtIndebtedness of the Corporation.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Sea Pines Associates Inc)

Securities Subordinate to Senior Debt. The Company Issuer covenants and agrees, and each Holder of a Debt Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter herein after set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Debt Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Subordinated Indenture (Financial Security Assurance Holdings LTD/Ny/)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment 108 117 of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Indenture (North Fork Capital Trust I)

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtIndebtedness of the Corporation.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Sce&g Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter herein after set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Granite Broadcasting Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Supplemental Indenture (BRT Realty Trust)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Xxxxxxxx), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (OM Asset Management PLC)

Securities Subordinate to Senior Debt. The Company ------------- ------------------------------------- covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Chittenden Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness repre sented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Granite Broadcasting Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt of the Company (which for purposes of this Article XII only, shall be defined as “Senior Debt”) .

Appears in 1 contract

Samples: Junior Subordinated Indenture (Flagstone Reinsurance Holdings LTD)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of and of, any premium and interest (including any Additional Interest) on and any Additional Amounts with respect to each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Indenture (MRM Capital Trust Iii)

Securities Subordinate to Senior Debt. The Company Issuer covenants and agrees, and each Holder of a Debt Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Debt Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Subordinated Indenture (Financial Security Assurance Holdings LTD/Ny/)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any . Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Trust Agreement (Centennial Bank Holdings, Inc.)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt of the Company.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Capitalsource Inc)

Securities Subordinate to Senior Debt. The Company -------------------------------------- covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Central Fidelity Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Fifteen), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Pathology Building Partnership)

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