Subordination of Guaranty. The Guaranty issued by any Guarantor will be unsecured senior subordinated obligations of such Guarantor, ranking pari passu with all other existing and future senior subordinated indebtedness of such Guarantor, if any. The Indebtedness evidenced by such Subsidiary Guarantee will be subordinated on the same basis as the guaranty of any Senior Indebtedness of such Guarantor as the Notes are subordinated to Senior Indebtedness.
Appears in 4 contracts
Samples: Unit Purchase Agreement (21st Century Holding Co), Unit Purchase Agreement (21st Century Holding Co), Unit Purchase Agreement (21st Century Holding Co)
