Senior Obligations and Subordinated Obligations Unimpaired. Nothing in this Agreement shall impair (a) as between the Issuer and any Secured Party, the obligations of the Issuer to such Secured Party, including the Senior Obligations and the Subordinated Obligations or (b) as between the Senior Creditors and the Subordinated Creditors, the provisions relating to the priority of payments in the Indenture; provided that it is understood that the enforcement of rights and remedies against the Collateral shall be subject to the terms of this Agreement.
Appears in 4 contracts
Samples: Security Trust Agreement (Babcock & Brown Air LTD), Security Trust Agreement (Genesis Lease LTD), Security Trust Agreement (Lease Investment Flight Trust)
Senior Obligations and Subordinated Obligations Unimpaired. Nothing in this Agreement shall impair (ai) as between the Issuer and any Secured Partyparty hereto, the obligations of the Issuer to such Secured Partyparty, including without limitation the Senior Obligations and the Subordinated Obligations Obligations, or (bii) as between the Senior Creditors and the Subordinated Creditors, the provisions relating to the priority of payments in the Indenture; provided that it is understood that the enforcement of rights and remedies against the Collateral shall be subject to the terms of this Agreement.
Appears in 2 contracts
Samples: Security Trust Agreement (Aerco LTD), Security Trust Agreement (Morgan Stanley Aircraft Finance)
