Common use of Securities Subordinated to Senior Indebtedness Clause in Contracts

Securities Subordinated to Senior Indebtedness. 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 11; 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 of all Obligations on Senior Indebtedness, including, without limitation, the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their Representative, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securities.

Securities Subordinated to Senior Indebtedness. The Company covenants and agrees, and the Trustee and each Holder of the Securitiesa Security, by its his acceptance thereof, likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article 11; and each Person holding any a Security, whether upon original issue issuance or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Securities by the Company shallthat, to the extent and in the manner herein hereinafter set forthforth in this Article, be subordinated the indebtedness represented by the Securities and junior the payment of all Obligations on each and all of the Securities, and the amount, if any, of the Repurchase Price payable in respect of Securities pursuant to Article XIV, are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash or Cash Equivalents Equivalents, or such payment duly provided for to the satisfaction of the holders of the Senior Indebtedness of all Obligations on all Senior Indebtedness, including, without limitation, the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their RepresentativeIndebtedness, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the SecuritiesArticle XII.

Securities Subordinated to Senior Indebtedness. 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 11Ten; 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 Indebtedness) of all Obligations on the Senior Indebtedness, including, without limitation, the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their RepresentativeIndebtedness, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securities.guaranteed

Securities Subordinated to Senior Indebtedness. 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 11; 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 of all Obligations on Senior Indebtedness, including, without limitation, the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their RepresentativeIndebtedness, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securities.

Securities Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder holder of the Securities, Securities issued hereunder by its his or her acceptance thereof, thereof likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article 115; and each Person person holding any Security, whether upon original issue or upon transfer, transfer or assignment or exchange thereof, accepts and agrees that the to be bound by such provisions. The payment of the principal of and interest, and premiums, if any, on all Obligations on Securities issued hereunder (including, without limitation, in connection with any redemption of Securities) and all other amounts payable in respect thereof now or hereafter existing under the Securities by and this Indenture (collectively, the Company "Subordinated Indebtedness") shall, to the extent and in the manner herein hereinafter set forth, be subordinated and junior subject in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on Senior Indebtedness, including, without limitation, whether outstanding at the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders date of Senior Indebtedness this Indenture or their Representative, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter thereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securitiesguaranteed.

Securities Subordinated to Senior Indebtedness. The Company covenants and 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 11Eleven; 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 or with respect to 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 when due, whether at stated maturity, by acceleration or otherwise, in cash or Cash Equivalents of all Obligations on or with respect to the Senior Indebtedness, including, without limitation, the Company's Obligations under the Credit Agreement; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their RepresentativeIndebtedness, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securities.

Securities Subordinated to Senior Indebtedness. 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 11Four; 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 of all Obligations on Senior Indebtedness, including, without limitation, the Company's Obligations obligations under the Credit AgreementBank Facility; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness or their RepresentativeIndebtedness, and that each holder of Senior Indebtedness or their Representative whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Securities.