Common use of Subordination of Subsidiary Guarantee Clause in Contracts

Subordination of Subsidiary Guarantee. The Obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 11 shall be junior and subordinated to the Senior Indebtedness of such Subsidiary Guarantor on the same basis as the Notes are junior and subordinated to Senior Indebtedness of the Company, as if and to the same extent the same provisions were set out in this Article 11. For the purposes of the foregoing sentence, but without limiting the generality thereof, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Subsidiary 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, and are subject to the same turnover provisions.

Subordination of Subsidiary Guarantee. The Obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 11 10 shall be junior and subordinated to the Senior Indebtedness of such Subsidiary Guarantor on the same basis as the Notes are junior and subordinated to the Senior Indebtedness of the Company, as if and to the same extent the same provisions were set out in this Article 11. For the purposes of the foregoing sentence, but without limiting and notwithstanding anything to the generality thereofcontrary contained herein, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Subsidiary Guarantors (or any Persons acting on their behalf) 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, 11 and are subject to the holders of Senior Indebtedness shall have the same turnover provisions.rights and remedies provided for in Article 11. ARTICLE ELEVEN

Subordination of Subsidiary Guarantee. The Obligations obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 11 Ten shall be junior and subordinated to the Senior Indebtedness Debt of such Subsidiary Guarantor on the same basis as the Notes are junior and subordinated to the Senior Indebtedness Debt of the Company, as if and to the same extent the same provisions were set out in this Article 11. For the purposes of the foregoing sentence, but without limiting and notwithstanding anything to the generality thereofcontrary contained herein, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Subsidiary Guarantors (or any Persons acting on their behalf) only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10 hereofEleven, and are subject to the Holders of Senior Debt shall have the same turnover provisions.rights and remedies provided for in Article Eleven. ARTICLE ELEVEN