Subordinated Security Interests. 43 8.5 Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. 44
Subordinated Security Interests. The security interests of the Second Lien Secured Parties in the Collateral are hereby, and shall continue to be, subject , junior and subordinated in all respects to the security interests of the First Lien Secured Parties in the Collateral in each case to the extent, and in the manner, set forth herein. The foregoing shall apply notwithstanding (i) the actual date and time of execution, delivery, recordation, filing or perfection of any security interests granted with respect to the First Lien Secured Obligations, or the lien (whether perfected or unperfected) thereof, and (ii) any instance wherein the First Lien Secured Obligations or any claim for the First Lien Secured Obligations is subordinated, avoided or disallowed, in whole or in part, under Title II of the United States Code or other applicable federal or state law. The Collateral Agent and the Second Lien Secured Parties shall have no rights to enforce or realize upon any Collateral except as expressly set forth herein and hereby waive any right of enforcement or realization they might otherwise have at law or otherwise..
Subordinated Security Interests. 40 8.5 Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. 42 8.6 Security is Not a Limit on Seller's Liability. 42 SECTION 9 METERING 42 9.1 Installation of Metering Equipment. 43
Subordinated Security Interests
