Common use of Securities Subordinate to Senior Indebtedness of the Company Clause in Contracts

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each holder of Securities issued hereunder and under any supplemental indenture or by any resolutions by the Board of Directors (“Additional Provisions”), by such holder’s acceptance thereof, whether upon original issue or upon transfer or assignment, likewise covenants and agrees, that, to the extent and in the manner set forth in this Article XIV, the payment of the principal of and premium, if any, and interest on each and all of the Securities is hereby expressly made subordinate and junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Indebtedness of the Company. Each holder of Securities, by its acceptance hereof, waives all notice of acceptance of the subordination provisions contained herein by each holder of Senior Indebtedness of the Company, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. No provision of this Article XIV shall prevent the occurrence of any Default or Event of Default hereunder.

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each holder of Securities issued hereunder and under any supplemental indenture or by any resolutions by the Board of Directors (“Additional Provisions”), by such holder’s acceptance thereof, whether upon original issue or upon transfer or assignment, likewise covenants and agrees, that, to the extent and in the manner set forth in this Article XIV, the payment of the principal of and premium, if any, and interest (including any Additional Interest) on each and all of the Securities is hereby expressly made subordinate and junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Indebtedness of the Company. Each holder of Securities, by its acceptance hereof, waives all notice of acceptance of the subordination provisions contained herein by each holder of Senior Indebtedness of the Company, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. No provision of this Article XIV shall prevent the occurrence of any Default or Event of Default hereunder.

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each holder Holder of Securities issued hereunder and under any supplemental indenture or by any resolutions by the Board of Directors (“Additional Provisions”)a Security, by such holder’s his acceptance thereof, whether upon original issue or upon transfer or assignment, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIVArticle, the Indebtedness represented by the Securities and the payment of the principal of (and premium, if any, ) and interest on each and all of the Securities is of such series are hereby expressly made subordinate and junior subject in right of payment as provided in this Article Twelve to the prior payment in full of all amounts then due and payable in respect of all Senior Indebtedness of the Company. Each holder of SecuritiesThis Article Twelve shall constitute a continuing offer to all Persons who, by its acceptance hereofin reliance upon such provisions, waives all notice of acceptance become holders of, or continue to hold Senior Indebtedness of the subordination Company; and such provisions contained herein by each holder are made for the benefit of the holders of Senior Indebtedness of the Company; and such holders are made obligees hereunder and they, whether now outstanding or hereafter incurredeach of them, and waives reliance by each may enforce such holder upon said provisions. No provision of this Article XIV shall prevent the occurrence of any Default or Event of Default hereunder.