Subordinated. It is a debt that ranks below other bonds with regard to claims on assets or earnings. In the case of default, holders with subordinated bonds would not get paid out until the senior bondholders are paid in full. Subordinated debts have a lower priority of claims in the event of liquidation of the issuer. Investors can only get back the principal after other senior creditors are paid.
Subordinated. Debt, Senior Notes and Equity Notices To Agent and Lenders, as soon as practicable, copies of all material written notices given or received by any Credit Party with respect to any Subordinated Debt (including the Senior Subordinated Notes), the Senior Notes or Stock of such Credit Party, and, within two (2) Business Days after such Credit Party obtains knowledge of any matured or unmatured event of default with respect to any Subordinated Debt (including the Senior Subordinated Notes), or the Senior Notes, notice of such event of default.
Subordinated. Refers to a promise to pay or a security with a promise to pay which cannot legally be fulfilled until payments on certain other obligations have been made and any other conditions (defined in the indenture) have been met. These other obligations are said to be senior to the subordinated obligation. The amount by which revenues exceed expenditures.
Subordinated. The Company shall have issued the 1998 Subordinated Notes on terms and conditions satisfactory to the Agent for gross proceeds of not less than ,
Subordinated. The Securities are subordinated to Senior Indebtedness of the Company and the Subsidiary Guarantors on the terms and subject to the conditions set forth in the Indenture. To the extent provided in the Indenture, Senior Indebtedness must be paid before the Securities may be paid. Each Securityholder by accepting a Security agrees to the subordination provisions contained in the Indenture and authorizes the Trustee to give it effect and appoints the Trustee as attorney-in-fact for such purpose.
Subordinated unsecured, prepetition claims related to dividends on account of Old Preferred Stock (as defined in the Debtors' Plan) in the approximate amount of $10,747,952.13 (the "Prepetition Dividend Claims");
