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 173 contracts
Samples: Indenture (Paragon Commercial CORP), Junior Subordinated Indenture (Entegra Financial Corp.), Junior Subordinated Indenture (American Realty Capital Properties, 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 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: Declaration of Trust (First Security Capital V), Declaration of Trust (Provident Capital Trust Iii), Guarantee Agreement (Comerica Capital Trust Ii)
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: Subordinated Indenture (Great Wolf Resorts, Inc.), Junior Subordinated Indenture (Mercantile Bancorp, Inc.), Great Wolf Resorts, 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), Anthracite Capital Inc, 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: Boston Properties LTD Partnership, Boston Properties LTD Partnership, TPG Nv
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 (including any amounts payable upon a purchase 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: Monsanto Co, Unova Inc, Eg&g 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 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 5 contracts
Samples: Indenture (Bancorpsouth Inc), Securities Indenture (National City Capital Trust I), Execution Copy (Bancorp Hawaii 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: Guaranty Capital Trust I, Highlands Capital Trust I, Resource Capital Trust I
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: Vornado Realty Lp, Vornado Realty Lp, Vornado Realty Trust
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: Temecula Valley Bancorp Inc, Temecula Valley Bancorp Inc, First Chester County 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 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: Scana Corp, South Carolina Electric & Gas Co, Scana Corp
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 (Forest City Enterprises Inc), Scholastic Corp, Scholastic 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 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 Debt.
Appears in 3 contracts
Samples: Indenture (Seacoast Financial Services Corp), M&t Bank Corp, Seacoast Financial Services 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), Resource Capital 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 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 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
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: Silicon Valley Bancshares, 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 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: Commonwealth Bankshares Inc, Commonwealth Bankshares 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
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: Indenture (Validus Holdings LTD), 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: Simmons First National Corp, Simmons First 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. SECTION 12.2.
Appears in 1 contract
Samples: Simmons First National Corp
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 Section 1008), 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 (including any amounts payable upon a purchase 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 (Solutia 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 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
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: Granite Broadcasting Corp
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: 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 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: 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 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 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: 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
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: North Fork 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.
Appears in 1 contract
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
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: Sce&g 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 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: 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 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. SECTION 13.2.
Appears in 1 contract
Samples: Republic New York Capital Iv
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
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 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: MRM Capital Trust Iii
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: Indenture (First Banks, 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 1 contract
Samples: Chittenden 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 5093320 04310929 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: Bimini Capital Management, 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 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: Nextlink Communications LLC
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. Notwithstanding anything herein to the contrary, the Securities shall be senior to the trade debt of the Company incurred in the ordinary course of business.
Appears in 1 contract
Samples: Morgans Hotel Group Co.
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: 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 of the Company (which for purposes of this Article XII only, shall be defined as “Senior Debt”) .
Appears in 1 contract
Samples: Flagstone Reinsurance Holdings LTD