Common use of Securities Subordinated to Senior Indebtedness Clause in Contracts

Securities Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his acceptance of Securities, agrees that the payment of the principal of and interest on the Securities is subordinated, to the extent and in the manner provided in this Article X, to the prior payment in full in cash or cash equivalents of all Senior Indebtedness, whether outstanding on the Issue Date or thereafter incurred, including any interest accruing subsequent to a bankruptcy or other similar proceeding whether or not such interest is an allowed claim enforceable against the Company in a bankruptcy case under Title 11 of the United States Code. This Article X shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.

Securities Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his acceptance of Securities, agrees that the payment of the principal of of, premium, if any, and interest on the Securities is subordinated, to the extent and in the manner provided in this Article X, to the prior payment in full in cash or cash equivalents of all Senior Indebtedness, Indebtedness whether outstanding on the Issue Date or thereafter incurred, including any interest accruing subsequent to a bankruptcy or other similar proceeding whether or not such interest is an allowed claim enforceable against the Company in a bankruptcy case under Title 11 of the United States Code. This Article X shall constitute a continuing offer to all Persons persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.

Securities Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his acceptance of Securities, agrees that the payment of the principal of of, premium, if any, and interest on the Securities is subordinated, to the extent and in the manner provided in this Article XTen, to the prior payment in full in cash or cash equivalents of all Senior Indebtedness, Indebtedness whether outstanding on the Issue Date or thereafter incurred, incurred including any interest accruing subsequent to a bankruptcy or other similar proceeding whether or not such interest is an allowed claim enforceable against the Company in a bankruptcy case under Title 11 of the United States Code. This Article X Ten shall constitute a continuing offer to all Persons persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.

Securities Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his its acceptance of Securities, agrees agrees, that the payment of the principal of and interest on the Securities is subordinatedsubordinated in right of payment, to the extent and in the manner provided in this Article XEleven, to the prior payment in full in cash or cash equivalents of all Senior Indebtedness, whether outstanding on the Issue Date or thereafter incurred, including any interest accruing subsequent after the filing of a petition initiating any proceeding pursuant to a bankruptcy or other similar proceeding any Bankruptcy Law, whether or not such interest is an allowed claim enforceable against the Company in a bankruptcy case under Title 11 of the United States Codeclaim. This Article X Eleven shall constitute a continuing offer to all Persons persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more they and/or each of them may enforce such provisions.

Securities Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his acceptance of Securities, agrees that the payment of the principal of and interest on the Securities is subordinatedsubordinated in right of payment, to the extent and in the manner provided in this Article XTwelve, to the prior payment in full full, in cash or cash, cash equivalents acceptable to the holders of such Senior Indebtedness or in any other form acceptable to the holders of such Senior Indebtedness, of all Senior Indebtedness, whether outstanding on Indebtedness and that these subordination provisions are for the Issue Date or thereafter incurred, including any interest accruing subsequent to a bankruptcy or other similar proceeding whether or not such interest is an allowed claim enforceable against the Company in a bankruptcy case under Title 11 benefit of the United States Codeholders of Senior Indebtedness. This Article X Twelve shall constitute a continuing offer to all Persons persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.