Common use of Securities Subordinated to Senior Debt Clause in Contracts

Securities Subordinated to Senior Debt. The Company covenants and agrees, and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this Indenture.

Securities Subordinated to Senior Debt. The Company Company, for itself, its successors and assigns, covenants and agrees, and each Holder of the any Securities, by his or its acceptance thereof, likewise covenants and agrees, that the indebtedness evidenced by the Securities (and any renewals or extensions thereof), including all Securities Contingent Payments, any Make-Whole Amount and any interest payable on Contingent Payments and any Make-Whole Amount, and requirements that the Company make repurchases or redemptions shall be issued subordinate and subject to the provisions in right of this ARTICLE 13; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shallpayment, to the extent and in the manner herein hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the in respect of Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company Issuer and each Subsidiary Guarantor covenants and agrees, and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE Article 13; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that that, notwithstanding the existence of, or the time, order or method of attachment, perfection, filing or recording of, any lien or security interest (a) the right of each Holder to payment of all the Obligations on the Securities by the Company from Proceeds of Collateral shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash of all Obligations on or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders in respect of the Senior Debt; (b) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, including their Representative, and that (c) each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company Issuer covenants and agrees, agrees and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13Article Ten; and the Trustee and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company Issuer shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt Debt, whether now outstanding or hereafter created, incurred, assumed or guaranteed guaranteed, shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company Issuer, for itself and its successors, covenants and agrees, agrees and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13Article Ten; and the Trustee and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company Issuer shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment and satisfaction in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt Debt, whether now outstanding or hereafter created, incurred, assumed or guaranteed guaranteed, shall be deemed to have acquired such Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company covenants and agrees, and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13Article 5; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt Debt, whether now outstanding or hereafter created, incurred, assumed or guaranteed guaranteed, shall be deemed to have acquired Senior Debt Debt, in reliance upon the covenants and provisions contained in this Indenture.

Securities Subordinated to Senior Debt. The Company covenants and agrees, and the Trustee and each Holder of the SecuritiesSecurities by his acceptance thereof likewise covenant and agree, by its acceptance thereof, likewise covenants and agrees, (i) that all Securities shall be issued subject to the provisions of this ARTICLE 13Article Eight; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment all payments of all Obligations principal, premium, if any, and interest on the Securities by the Company shall, to the extent and in the manner herein set forthforth in this Article Eight, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of all amounts payable under Senior Debt of the holders of the Senior Debt) of all Obligations Company, whether outstanding on the Senior Debt; Issue Date or thereafter incurred, and (ii) that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company Company, for --------------------------------------- itself, its successors and assigns, covenants and agrees, and each Holder of the any Securities, by his or its acceptance thereof, likewise covenants and agrees, that all the indebtedness evidenced by the Securities (and any renewals or extensions thereof), including the principal of, premium, if any, and interest (including Contingent Payments and any Make-Whole Amount) thereon and any interest payable on such interest (including Contingent Payments and any Make-Whole Amount), and requirements that the Company make repurchases or redemptions shall be issued subordinate and subject to the provisions in right of this ARTICLE 13; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shallpayment, to the extent and in the manner herein hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the in respect of Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company covenants and agrees, agrees and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13Article 10; and the Trustee and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities (except for the payment of fees and expenses of the Trustee and any indemnity under Section 7.07) by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company covenants and agrees, agrees and the Trustee and each Holder of the Securities, by its acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13Article Ten; and the Trustee and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities (except for the payment of fees and expenses of the Trustee under Section 7.07 hereof) by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company Company, for itself, its successors and assigns, covenants and agrees, and each Holder of the any Securities, by his or its acceptance thereof, likewise covenants and agrees, that all the indebtedness evidenced by the Securities (and any renewals or extensions thereof), including the principal of, premium, if any, and interest (including Contingent Payments and any Make-Whole Amount) thereon and any interest payable on such interest (including Contingent Payments and any Make-Whole Amount), and requirements that the Company make repurchases or redemptions shall be issued subordinate and subject to the provisions in right of this ARTICLE 13; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shallpayment, to the extent and in the manner herein hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on the in respect of Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.

Securities Subordinated to Senior Debt. The Company covenants and agrees, and the Trustee and each Holder of the Securities, Securities by its acceptance thereofthereof likewise covenant and agree, likewise covenants and agrees, (i) that all Securities shall be issued subject to the provisions of this ARTICLE 13Article Eight; and the Trustee and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment payments of all Obligations on the Securities or under this Indenture by the Company shall, to the extent and in the manner herein set forthforth in this Article Eight, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents (or such payment shall be duly provided for to the satisfaction of the holders of the Senior Debt) of all Obligations on Senior Debt of the Senior Debt; Company, whether outstanding on the Issue Date or thereafter incurred, including, without limitation, the Company's Obligations under the Credit Facility, and (ii) that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this IndentureIndenture and the Securities.