Common use of Subordination of Note Guarantees Clause in Contracts

Subordination of Note Guarantees. The obligations of each Note Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of Guarantor Senior Indebtedness on the same basis as the Securities are junior and subordinated to 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 Note Guarantors only at such times as they may receive and/or retain payments in respect of the Securities pursuant to this Indenture, including Article X hereof.

Subordination of Note Guarantees. The obligations Obligations of each Note Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full in cash or Cash Equivalents of all Guarantor Senior Indebtedness of such Guarantor on the same basis as the Securities Notes are junior and subordinated to the prior payment in full of all Guarantor Senior Indebtedness of the CompanyCompany as described in Article XII hereof. For the purposes of the foregoing sentence, the Trustee and the Holders Purchasers shall have the right to receive and/or retain payments by any of the Note Guarantors only at such times as they may receive and/or retain payments in respect of the Securities Notes pursuant to this IndentureAgreement, including Article X XII hereof.