SUBORDINATION OF GUARANTEE OBLIGATIONS. SECTION 12.01. Subsidiary Guarantee Obligations Subordinated to Senior Indebtedness of Subsidiary Guarantors ..............90 SECTION 12.02. No Payment on Notes in Certain Circumstances...............91 SECTION 12.03. Payment Over of Proceeds upon Dissolution, Etc...........
SUBORDINATION OF GUARANTEE OBLIGATIONS. 11.1 Guarantee Obligations Subordinated to Guarantor Senior ------------------------------------------------------ Indebtedness ------------ Each Guarantor covenants and agrees, and the Arranger and each Lender by its acceptance thereof likewise covenant and agree, that the Guarantee shall be issued subject to the provisions of this Section 11; and each Person holding any Loan or Note, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that all payments of the principal of and interest on the Loans or Notes pursuant to the Guarantee made by or on behalf of any Guarantor shall, to the extent and in the manner set forth in this Section 11, be subordinated and junior in right of payment to the prior payment in full in cash of all amounts payable under Guarantor Senior Indebtedness of such Guarantor.
SUBORDINATION OF GUARANTEE OBLIGATIONS. SECTION 12.1 Guarantee Obligations Subordinated to Guarantor Senior Debt.
SUBORDINATION OF GUARANTEE OBLIGATIONS. 86 SECTION 12.1. Guarantee Obligations Subordinated to Senior Indebtedness of Subsidiary Guarantors.....................................86 SECTION 12.2. No Payment on Notes in Certain Circumstances.................86 SECTION 12.3. Payment Over of Proceeds upon Dissolution, Etc...............88 SECTION 12.4. Payments May Be Paid Prior to Dissolution.....................90 SECTION 12.5. Subrogation...................................................90 SECTION 12.6. Obligations of Subsidiary Guarantor Unconditional.............91 SECTION 12.7. Notice to Trustee.............................................91 SECTION 12.8. Reliance on Judicial Order or Certificate of Liquidating Agent ........................................................91 SECTION 12.9. Trustee's Relation to Subsidiary Guarantor's Senior Indebtedness.................................................92 SECTION 12.10. Subordination Rights Not Impaired by Acts or Omissions of Subsidiary Guarantors or Holders of Subsidiary Guarantors' Senior Indebtedness..........................................92 SECTION 12.11. Noteholders Authorize Trustee To Effectuate Subordination of Notes.....................................................93 SECTION 12.12. This Article Twelve Not To Prevent Events of Default.........94
SUBORDINATION OF GUARANTEE OBLIGATIONS. 82 Section 12.1. Guarantee Obligations Subordinated to Guarantor Senior Indebtedness................................................ 82 Section 12.2. Suspension of Guarantee Obligations When Guarantor Senior Indebtedness in Default..................................... 82 Section 12.3. Guarantee Obligations Subordinated to Prior Payment of All Guarantor Senior Indebtedness on Dissolution, Liquidation or Reorganization of Such Subsidiary Guarantor............
SUBORDINATION OF GUARANTEE OBLIGATIONS. 93 11.1 Guarantee Obligations Subordinated to Guarantor Senior Debt 93 11.2 Priority and Payment Over of Proceeds in Certain Events 93 11.3 Payments May Be Paid Prior to Dissolution 96
SUBORDINATION OF GUARANTEE OBLIGATIONS. Guarantee Obligations Subordinated to Guarantor Senior Debt of Holdings.......................................................... 94 SECTION 12.02. No Payment on Notes in Certain Circumstances.............................. 95 SECTION 12.03. Payment Over of Proceeds upon Dissolution, Etc............................ 96 SECTION 12.04. Payments May Be Paid Prior to Dissolution................................. 97 SECTION 12.05. Subrogation............................................................... 97 SECTION 12.06. Obligations of Holdings Unconditional..................................... 98 SECTION 12.07. Notice to Trustee and Paying Agents....................................... 98 SECTION 12.08. Reliance on Judicial Order or Certificate of Liquidating Agent..................................................................... 99 SECTION 12.09. Trustee's Relation to Guarantor Senior Debt of Holdings................... 99
SUBORDINATION OF GUARANTEE OBLIGATIONS. 98 11.1 Guarantee Obligations Subordinated to Guarantor Senior Indebtedness........................ 98 11.2 No Payment on Guarantees in Certain Circumstances; Payments Held in Trusts................. 99 A. No Payments in Certain Circumstances.............................................. 99 B. Payments Held in Trust............................................................ 99 11.3 Payment Over of Proceeds upon Dissolution, Etc.............................................
SUBORDINATION OF GUARANTEE OBLIGATIONS. Guarantee Obligations Subordinated to Guarantor Senior Debt of Holdings. Holdings covenants and agrees, and each Holder of the Notes, by its acceptance thereof, likewise covenants and agrees, that any payment of obligations by Holdings in respect of its Guarantee (its "Guarantee Obligations") shall be made subject to the provisions of this Article Twelve, and each Person holding any Note, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Guarantee Obligations by Holdings shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on the Guarantor Senior Debt of Holdings, that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Guarantor Senior Debt of Holdings, and that each holder of Guarantor Senior Debt of Holdings whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Guarantor Senior Debt of Holdings in reliance upon the covenants and provisions contained in this Indenture and the Notes.
SUBORDINATION OF GUARANTEE OBLIGATIONS. 87 11.1 Guarantee Obligations Subordinated to Guarantor Senior Indebtedness.............................. 87 11.2 Priority and Payment Over of Proceeds in Certain Events.......................................... 87 11.3 Payments May Be Paid Prior to Dissolution........................................................ 89 11.4 Rights of Holders of Guarantor Senior Indebtedness Not To Be Impaired............................ 90 11.5 Subrogation...................................................................................... 90 11.6 Obligations of the Guarantors Unconditional...................................................... 91 11.7 Lenders Authorize Agent to Effectuate Subordination.............................................. 91 SECTION 12 MISCELLANEOUS........................................................................................ 92 12.1 Representation of the Lenders.................................................................... 92 12.2 Participations in and Assignments of Bridge Loan................................................. 92 12.3 Expenses......................................................................................... 94 12.4 Indemnitee....................................................................................... 94 12.5 Setoff........................................................................................... 95 12.6
