SUBORDINATION OF NOTES Clause Samples
The Subordination of Notes clause establishes that the notes in question are ranked below certain other debts or obligations in terms of repayment priority. In practice, this means that if the issuer becomes insolvent or is liquidated, holders of the subordinated notes will only be repaid after all senior creditors have been satisfied. This clause is essential for clarifying the order of payment in the event of financial distress, thereby allocating risk among different classes of creditors and making the terms of repayment transparent to all parties involved.
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SUBORDINATION OF NOTES. Section 4.01.
SUBORDINATION OF NOTES. Section 11.01. Notes Subordinate to Senior Indebtedness......................................... 84 Section 11.02. Payment Over of Proceeds upon Dissolution, etc..................................... 84 Section 11.03. Suspension of Payment When Senior Indebtedness in Default.............................. 86 Section 11.04. Trustee's Relation to Senior Indebtedness......................................... 88 Section 11.05. Subrogation to Rights of Holders of Senior Indebtedness............................... 89 Section 11.06. Provisions Solely To Define Relative Rights............................................... 89 Section 11.07.
SUBORDINATION OF NOTES. Section 14.01. Notes Subordinate to Senior Debt..............................175 Section 14.02. Payment Over of Proceeds upon Dissolution, etc................175 Section 14.03. Suspension of Payment When Senior Debt in Default.............177 Section 14.04. Trustee's Relation to Senior Debt.............................180 Section 14.05. Subrogation to Rights of Holders of Senior Debt...............180 Section 14.06. Provisions Solely to Define Relative Rights...................181 Section 14.07.
SUBORDINATION OF NOTES. Section 11.01.
SUBORDINATION OF NOTES. Section 4.1
SUBORDINATION OF NOTES. SECTION 15.01. Notes Subordinate to Senior Indebtedness...........................66 SECTION 15.03.
SUBORDINATION OF NOTES. This Note is subordinated in right of payment to all Senior Debt to the extent and in the manner provided in this Article XI.
SUBORDINATION OF NOTES. 57 SECTION 8.1. Notes Subordinated to Senior Indebtedness ............ 57 SECTION 8.2. Payment Over of Proceeds Upon Dissolution etc ........ 57 SECTION 8.3. No Payment When Senior Indebtedness is in Default .... 59 SECTION 8.4. Payment Permitted if No Default ...................... 60 SECTION 8.5. Subrogation to Rights of Holders of Senior Indebtedness ...................................... 60 SECTION 8.6. Provisions Solely to Define Relative Rights .......... 61 SECTION 8.7. No Waiver of Subordination Provisions ................ 61 SECTION 8.8. Notice to Holders of Notes ........................... 61 SECTION 8.9. Reliance of Holders of Senior Indebtedness ........... 62 SECTION 8.10. Reliance on Judicial order or Certificate of Liquidating Agent ................................. 62 SECTION 8.11. This Article Not to Prevent Events of Default ........ 62 SECTION 8.12. Reinstatement ........................................ 63 ARTICLE IX SUBSTITUTION;
SUBORDINATION OF NOTES. SECTION 8.01. Notes Subordinated to Senior Debt..............................................................53 SECTION 8.02. No Payment on Notes in Certain Circumstances...................................................53 SECTION 8.03. Payment Over of Proceeds upon Dissolution, etc.................................................54 SECTION 8.04. Subrogation....................................................................................55 SECTION 8.05.
SUBORDINATION OF NOTES. From the Original Issue Date to, but excluding, May 18, 2004, the following provisions shall apply: