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 a Security, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, 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 of such series are hereby expressly made subordinate and subject in right of payment as provided in this Article Twelve to the prior payment in full of all Senior Indebtedness of the Company. This Article Twelve shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of, or continue to hold Senior Indebtedness of the Company; and such provisions are made for the benefit of the holders of Senior Indebtedness of the Company; and such holders are made obligees hereunder and they, or each of them, may enforce such provisions.

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the Indebtedness 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 of such series and all other amounts payable with respect thereto (collectively the "Subordinated Obligations") are hereby expressly made subordinate and postponed to and subject in right of payment as provided in this Article Twelve to the prior payment in full of all Senior Indebtedness of the Company. All provisions of this Article Twelve shall be subject to Section 1215. This Article Twelve 12 shall constitute a continuing offer to all Persons who, in reliance upon such provisionsArticle, become holders of, or continue to hold hold, Senior Indebtedness of the Company; Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness of the Company; Indebtedness, and such holders are made obligees hereunder and they, they or each of them, them may enforce such provisions.

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each Holder of a Security, by his its acceptance thereof, likewise covenants and agrees, agrees that, to the extent and in the manner hereinafter set forth in this Article, the Indebtedness 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 of such series and all other amounts payable with respect thereto (collectively, the “Subordinated Obligations”) are hereby expressly made subordinate and postponed to and subject in right of payment as provided in this Article Twelve to the prior payment in full of all Senior Indebtedness of the Company. All provisions of this Article 2 shall be subject to Section 2.14. This Article Twelve Agreement shall constitute a continuing offer to all Persons who, in reliance upon such provisionsAgreement, become holders of, or continue to hold hold, Senior Indebtedness of the Company; Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness of the Company; Indebtedness, and such holders are made obligees hereunder and they, they or each of them, them may enforce such provisions.

Securities Subordinate to Senior Indebtedness of the Company. The Company covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the Indebtedness 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 of such series and all other amounts payable with respect thereto (collectively the “Subordinated Obligations”) are hereby expressly made subordinate and postponed to and subject in right of payment as provided in this Article Twelve to the prior payment in full of all Senior Indebtedness of the Company. All provisions of this Article Twelve shall be subject to Section 1215. This Article Twelve 12 shall constitute a continuing offer to all Persons who, in reliance upon such provisionsArticle, become holders of, or continue to hold hold, Senior Indebtedness of the Company; Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness of the Company; Indebtedness, and such holders are made obligees hereunder and they, they or each of them, them may enforce such provisions.