Subordination of Note Guarantee. The Obligations of each Guarantor under its Note Guarantee pursuant to this Article 11 will be junior and subordinated to the Senior Debt of such Guarantor on the same basis as the Notes are junior and subordinated to Senior Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders will have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10 hereof.
Subordination of Note Guarantee. Payments under the Note Guarantee pursuant to this Supplemental Indenture shall be subordinated to the prior payment in full of all Senior Debt of such Guarantor, including Senior Debt incurred after the date of this Supplemental Indenture, on the same basis as the payments by the Company on the Notes are subordinated to the prior payment in full of Senior Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by the Guaranteeing Subsidiary only at such times as they may receive and/or retain payments in respect of the Notes pursuant to the Indenture, including Article Twelve thereof.
Subordination of Note Guarantee. The obligations of each Guarantor under its Note Guarantee pursuant to this Article Ten shall be junior and subordinated to the prior payment in full of the Guarantor Senior Debt of such Guarantor in cash, Cash Equivalents or other cash equivalents reasonably acceptable to the holders of such Guarantor Senior Debt of such Guarantor on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuers. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article Eleven.
Subordination of Note Guarantee. Payments under the Note Guarantees shall be subordinated to the prior payment in full of all Senior Indebtedness of such Guarantor, including Senior Indebtedness incurred after the date of this Indenture, on the same basis as the payments by the Company on the Notes are subordinated to the prior payment in full of Senior Indebtedness of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10.
Subordination of Note Guarantee. SECTION 12.01.
Subordination of Note Guarantee. 81 Section 12.1 Agreement to Subordinate................................81 Section 12.2
Subordination of Note Guarantee. The obligations of each Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full of the Guarantor Senior Debt of such Guarantor in cash or cash equivalents 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 and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article X hereof.
Subordination of Note Guarantee. Each Guaranteeing Subsidiary covenants and agrees that the obligations of such Guaranteeing Subsidiary under its Note Guarantee shall be junior and subordinate in right of payment to the prior payment in full in cash of all obligations under the Senior Guarantee of such Guaranteeing Subsidiary.
Subordination of Note Guarantee. Payments on the Note Guarantees are subordinated to the extent and manner provided for in Article 13 of the Indenture, to the prior payment in full in cash or Cash Equivalents of all Senior Debt of the Guarantors, including Senior Debt of the Guarantors incurred after the date of the Indenture.
Subordination of Note Guarantee. Prior to the Merger, the Guarantees will be senior obligations of the Guarantors, pari passu with all other unsubordinated Indebtedness of the Guarantors and senior to all subordinated Indebtedness of the Guarantors. From and after the effective time of the Merger, the Obligations of each Guarantor under its Note Guarantee pursuant to this Article 10 shall be junior and subordinated to the Senior Debt of such Guarantor on the same basis as the Notes are junior and subordinated to Senior Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10 hereof.
