Common use of Subordination and Non-Petition Clause in Contracts

Subordination and Non-Petition. (a) Anything in this Indenture or the Class A Notes to the contrary notwithstanding, the Issuer agrees for the benefit of the Holders of the Class A Notes that the rights of the Equity Owner to distribution by the Issuer and in and to the Collateral, including any payment from Proceeds of Collateral, shall be subordinate and junior to the Class A Notes, to the extent and in the manner set forth in this Indenture including, as set forth in Section 11.1 and hereinafter provided. If any Event of Default has occurred and has not been cured or waived, and notwithstanding anything contained in Section 11.1 to the contrary, interest on and principal of the Class A Notes shall be paid in full in Cash (in order of priority) before any further payment or distribution is made on account of the Equity Owner.