Common use of Subordination of Guarantee Clause in Contracts

Subordination of Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article Eleven shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of the applicable Guarantor Senior Debt on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or retain payments by any of the Guarantors only at such times as they may receive or retain payments in respect of the Notes pursuant to this Indenture, including Article Ten hereof.

Subordination of Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article Eleven shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of the applicable Guarantor Senior Debt on the same basis as the Notes Securities are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments by any of the Guarantors only at such times as they may receive or and/or retain payments in respect of the Notes Securities pursuant to this Indenture, including Article Ten hereof.

Subordination of Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article Eleven shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of the applicable Guarantor Senior Debt on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments by any of the Guarantors only at such times as they may receive or and/or retain payments in respect of the Notes pursuant to this Indenture, including Article Ten hereof.

Subordination of Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article Eleven shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of the applicable Senior Indebtedness of such Guarantor Senior Debt on the same basis as the Notes are junior and subordinated to Senior Debt Indebtedness of the IssuerCompany. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments by any of the Guarantors only at such times as they may receive or and/or retain payments in respect of the Notes pursuant to this Indenture, including Article Ten 12 hereof.

Subordination of Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article Eleven shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of the applicable Guarantor Senior Debt on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuerany Co-Issuers. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments by any of the Guarantors only at such times as they may receive or and/or retain payments in respect of the Notes pursuant to this Indenture, including Article Ten hereof.

Subordination of Guarantee. The obligations Obligations of each Guarantor under its Guarantee pursuant to this Article Eleven 11 shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents Senior Guarantee of the applicable such Guarantor Senior Debt on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee (on behalf of the Holders) and the Holders shall have the right to receive or and/or retain payments by any of the Guarantors only at such times as they may receive or and/or retain payments in respect of the Notes pursuant to this Indenture, including Article Ten 10 hereof.