Common use of Subordination and Priority of Payments Clause in Contracts

Subordination and Priority of Payments. The subordination provisions contained in Section 3.08, Section 3.09 and Article X hereof may not be amended or modified without the consent of the Policy Provider (so long as a Policy Provider Non-Consent Event has not occurred and is not continuing), each provider of an Eligible Credit Facility, each Hedge Provider, each Holder of the subclass of Securities affected thereby and each Holder of any subclass of Securities ranking senior thereto. In no event shall the provisions set forth in Section 3.08 hereof relating to the priority of the Expenses, Hedge Payments and payments under all Eligible Credit Facilities be amended or modified.

Subordination and Priority of Payments. The subordination provisions contained in Section 3.08, Section 3.09 and Article X hereof may not be amended or modified without the consent of the Policy Provider (so long as a any subclass of Covered Class A Securities remain outstanding or any Policy Provider Non-Consent Event has not occurred Obligations remain due and is not continuingowing), each provider of an Eligible Credit Facility, each Hedge Provider, each Holder of the subclass of Securities affected thereby and each Holder of any subclass of Securities ranking senior thereto. In no event shall the provisions set forth in Section 3.08 hereof relating to the priority of the Expenses, Hedge Payments and payments under all Eligible Credit Facilities be amended or modified.