Common use of Subordination of Indebtedness Clause in Contracts

Subordination of Indebtedness. Any indebtedness or other obligation of Company now or hereafter held by or owing to Guarantor is hereby subordinated in time and right of payment to all obligations of Company to the Holders, except as such indebtedness or other obligation is expressly permitted to be paid under the Shelf Agreement; and such indebtedness of Company to Guarantor is assigned to the Holders as security for this Guaranty, and if such Holders so request shall be collected, enforced and received by Guarantor in trust for the Holders and to be paid over to such holders on account of the Guaranteed Obligations of Company to such Holders, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing such indebtedness of Company to Guarantor shall be marked with a legend that the same are subject to this Guaranty and shall be delivered to the Holders. Nothing in this Section 11 shall prohibit the Company from making, or Guarantor from accepting, any scheduled payment of principal or interest on any subordinated indebtedness at a time when no Default or Event of Default has occurred and is continuing.

Subordination of Indebtedness. Any indebtedness or other obligation of Company Issuer, any Seller or Manager now or hereafter held by or owing to Guarantor is hereby subordinated in time and right of payment to all obligations of Company the Guaranteed Obligations to the Holders, except as Guaranteed Parties; and any such indebtedness or other obligation is expressly permitted to be paid under the Shelf Agreement; and such indebtedness of Company to Guarantor is assigned to the Holders Guaranteed Parties, as collateral security for this GuarantyGuaranty and the Guaranteed Obligations, and if such Holders any the Guaranteed Parties so request requests, shall be collected, enforced and received by Guarantor in trust for the Holders Guaranteed Parties, and to be paid over to such holders on account of the Guaranteed Obligations of Company to such HoldersParties, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing any such indebtedness of Company to Guarantor shall be marked with a legend that the same are subject to this Guaranty and shall be delivered to the HoldersAgent. Nothing Guarantor will, and the Agent is hereby authorized, in this Section 11 shall prohibit the Company from making, or name of Guarantor from acceptingtime to time, any scheduled payment to execute and file financing statements and continuation statements and execute such other documents and take such other action as the Agent deems necessary or appropriate to perfect, preserve and enforce the rights of principal or interest on any subordinated indebtedness at a time when no Default or Event of Default has occurred and is continuingthe Guaranteed Parties hereunder.

Subordination of Indebtedness. (a) Any indebtedness or other obligation Indebtedness of the Company now or hereafter held by or owing owed to any Guarantor is hereby subordinated in time and right of payment to all obligations the payment by the Company of the Obligations such that if a default in the payment of the Obligations shall have occurred and be continuing, any such Indebtedness of the Company owed to the Holderssuch Guarantor, except as if collected or received by such indebtedness or other obligation is expressly permitted to be paid under the Shelf Agreement; and such indebtedness of Company to Guarantor is assigned to the Holders as security for this GuarantyGuarantor, and if such Holders so request shall be collected, enforced and received by Guarantor held in trust by such Guarantor for the Holders holders of the Obligations and to be paid over to such holders the Banks and the Agent for application on account the Obligations. (b) Any Indebtedness of the Guaranteed Obligations of Company to such Holders, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing owed to the Company is hereby subordinated in right of payment to the payment by such indebtedness Guarantor of Company its Guaranty Obligations such that if a default in the payment of the Obligations shall have occurred and be continuing, any such Indebtedness of such Guarantor owed to Guarantor the Company, if collected or received by the Company, shall be marked with a legend that held in trust by the same are subject to this Guaranty Company for the holders of the Obligations and shall be delivered paid over to the Holders. Nothing in this Section 11 shall prohibit Banks and the Company from making, or Guarantor from accepting, any scheduled payment Agent for application of principal or interest on any subordinated indebtedness at a time when no Default or Event of Default has occurred and is continuingsuch Guarantor's Guaranty Obligations.

Subordination of Indebtedness. Any indebtedness or other obligation of Company now or hereafter held by or owing to Guarantor is hereby subordinated in time and right of payment to all obligations of Company to the Holders, except as such indebtedness or other obligation is expressly permitted to be paid under the Shelf Note Agreement; and such indebtedness of Company to Guarantor is assigned to the Holders as security for this Guaranty, and if such Holders so request shall be collected, enforced and received by Guarantor in trust for the Holders and to be paid over to such holders on account of the Guaranteed Obligations of Company to such Holders, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing such indebtedness of Company to Guarantor shall be marked with a legend that the same are subject to this Guaranty and shall be delivered to the Holders. Nothing in this Section 11 shall prohibit the Company from making, or Guarantor from accepting, any scheduled payment of principal or interest on any subordinated indebtedness at a time when no Default or Event of Default has occurred and is continuing.