Senior Subordinated Indebtedness. Neither the Company nor any of the Guarantors shall, directly or indirectly, Incur any Indebtedness (other than the Notes, the Exchange Notes, the Permanent Securities and Indebtedness between the Company and its Wholly Owned Subsidiaries) that is by its terms (or by the terms of any agreement governing such Indebtedness) subordinated in right of payment to any other Indebtedness of the Company or of such Guarantor unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made expressly subordinate to the Loans and the Notes and the Guarantees to the same extent and in the same manner as such Loans and Notes and Guarantees are subordinated to the Senior Secured Credit Agreement.
Senior Subordinated Indebtedness. 27.1 This Note constitutes Senior Subordinated Indebtedness of the Company and is unsecured.
27.2 The Indebtedness evidenced by this Note and all of the Notes will be subordinated to the prior payment when due of the principal of, and premium, if any, and accrued and unpaid interest on, all existing Senior Indebtedness. This Note will be senior to, in right of payment of principal of, premium, if any, and accrued and unpaid interest on, any Subordinated Indebtedness of the Company.
27.3 Upon any distribution of assets of the Company in any dissolution, winding up, liquidation or reorganization of the Company, all holders of Senior Indebtedness of the Company must be paid in full before any payment or distribution is made with respect to this Note. The Company shall pay all principal or distribution to the holders of Subordinated Indebtedness.
Senior Subordinated Indebtedness. Neither the Company nor any Subsidiary Guarantor shall, directly or indirectly, incur any Indebtedness that is or purports to be by its terms (or by the terms of any agreement governing such Indebtedness) subordinated to any other Indebtedness of the Company or any Subsidiary Guarantor unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made expressly subordinate to the Obligations under the Loan or the Guarantee of such Subsidiary Guarantor, as the case may be, to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness.
Senior Subordinated Indebtedness. Prepay any of the Senior Subordinated Indebtedness or make any payment with respect to the Senior Subordinated Indebtedness that is prohibited by the Subordination Agreement.
Senior Subordinated Indebtedness. Buyer shall not create, incur, issue assume, guarantee or otherwise become directly or indirectly liable with respect to any indebtedness that is subordinate in right of payment to the Funded Debt, unless such indebtedness is specifically by its terms made pari passu with or subordinate in right of payment to this Extendable Subordinated Note.
Senior Subordinated Indebtedness. Neither Borrower nor any of the Guarantors shall, directly or indirectly, Incur any Indebtedness (other than the Notes, the Exchange Notes, the Required Refinancing Securities and the Guarantees, as the case may be) that by its terms (or by the terms of any agreement governing such Indebtedness) would expressly rank senior in right of payment to the Loans, Notes and Guarantees and expressly rank subordinate in right of payment to any Senior Indebtedness.
Senior Subordinated Indebtedness. The Obligations constitute senior subordinated indebtedness of the Borrower, junior to the “Obligations” under the Existing Senior Secured Credit Agreement, pari-passu with all subordinated Indebtedness of the Borrower under the Existing Subordinated Term Loan Agreement and senior to all other Indebtedness of the Borrower. The Obligations do not constitute “Designated Senior Indebtedness” (or any comparable term) with respect to any subordinated Indebtedness of the Borrower.
Senior Subordinated Indebtedness. Make payments of principal or interest in respect of Senior Subordinated Indebtedness, except that this Section 4.19 shall not apply to any such payments so long as (i) no Default shall have occurred and be continuing at the time of such payment and (ii) such payments of interest are made on the regularly-scheduled quarterly payment dates therefor or on the date of any repayment of Senior Subordinated Indebtedness in an amount not in excess of the amount accrued on the principal being repaid.
Senior Subordinated Indebtedness. So long as any Securities are outstanding, the Company will not Incur any Debt that is expressly made subordinated in right of payment to any Senior Indebtedness unless such Debt, by its terms and by the terms of any agreement or instrument pursuant to which such Debt is outstanding, is expressly made pari passu with, or subordinate in right of payment to, the Securities pursuant to provisions substantially similar to those contained in this Indenture; provided that the foregoing limitations shall not apply to distinctions between categories of Senior Indebtedness that exist by reason of any Liens or Guarantees arising or created in respect of some but not all Senior Indebtedness.
Senior Subordinated Indebtedness. If (a) any Event of Default (as defined in the Indenture), or any event or condition which with the lapse of time or giving of notice or both would constitute an Event of Default (as defined in the Indenture), shall exist under the Indenture, the Senior Subordinated Notes or any agreement executed by Borrower in connection therewith, (b) without the prior written consent of Agent and the Majority Banks, the Indenture or the Senior Subordinated Notes shall be amended or modified in any respect, (c) the Senior Subordinated Notes shall be accelerated for any reason, or (d) if the Indebtedness evidenced by the Senior Subordinated Notes, or any portion thereof, shall at any time fail or cease to be Subordinated to the Debt, or any portion of the Debt, including, but not limited to, the principal of each Note, all interest thereon and all commitment and other fees under this Credit Agreement.
