SUBORDINATION OF SUBSIDIARY GUARANTEES. The Guarantee of each Guarantor shall be subordinated to the prior payment in full of all Senior Debt of that Guarantor (in the same manner and to the same extent that the Notes are subordinated to Senior Debt), which shall include all guarantees of Senior Debt
SUBORDINATION OF SUBSIDIARY GUARANTEES. The Obligations of each Guarantor under its Subsidiary Guarantee pursuant to this Article 11 shall be junior and subordinated to all obligations in respect of the Senior Indebtedness of such Guarantor on the same basis as the Notes are junior and subordinated to all obligations in respect of the Senior Indebtedness of the Company. For the purposes of the foregoing sentence, (a) each Guarantor may make, and the Trustee and the Holders of the Notes 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, and (b) the rights and obligations of the relevant parties relative to the Subsidiary Guarantees shall be the same as their respective rights and obligations relative to the Notes and Senior Indebtedness of the Company pursuant to Article 10.
SUBORDINATION OF SUBSIDIARY GUARANTEES. SECTION 1401.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee are subordinated in right of payment to the obligations of each Guarantor under its Senior Debt in the same manner and to the same extent that the Notes are subordinated to Senior Indebtedness of the Company pursuant to this Article IV.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The Obligations of each Guarantor under its Subsidiary Guarantee pursuant to this Article 11 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 as set forth in Article 10 hereof. Each Subsidiary Guarantee is made subject to the provisions of Article 10 hereof. 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.
SUBORDINATION OF SUBSIDIARY GUARANTEES. Each Guarantor's Obligations under its Subsidiary Guarantee shall be junior and subordinated in right of payment to any Guarantor Senior Indebtedness of such Guarantor in the same manner and to the same extent as the Notes are subordinated to Senior Indebtedness of the Company pursuant to Article Ten and the provisions of Article Ten and any terms defined therein or incorporated by reference into such defined terms will apply to the Subsidiary Guarantee as if references in Article Ten to the "Note(s)", the "Company", "Senior Indebtedness", "Designated Senior Indebtedness" and "this Article Ten" are references to such "Subsidiary Guarantee", such "Guarantor", such Guarantor's "Guarantor Senior Indebtedness", such Guarantor's "Guarantor Designated Senior Indebtedness" and "Article Ten as read to apply to each Guarantor's Subsidiary Guarantee pursuant to this Section 11.2", respectively, except that reference in Section 10.5 to "the obligation of the Company, which is absolute and unconditional, to pay to the Holders the Principal of, premium, if any, and interest on the Notes as and when the same shall become due and payable in accordance with their terms", or any words of similar meaning, are references to "such Guarantor's Obligations under its Subsidiary Guarantee". Any notice of a default or event of default given to the Trustee in respect of Designated Senior Indebtedness pursuant to Section 10.2(b) shall be deemed to be a notice a default or event of default given to the Trustee in respect of such Guarantor's Guarantor Designated Senior Indebtedness and any notice of a default or event of default given to the Trustee in respect of such Guarantor's Guarantor Designated Senior Indebtedness pursuant to this Section 11.2 shall be deemed to be a notice of a default or event of default given to the Trustee in respect of Designated Senior Indebtedness. In the event of a conflict between the provisions of Section 10.2(b) and the provisions of Section 10.2(b) as read to apply to the Guarantor's Subsidiary Guarantee pursuant to this Section 11.2, the provisions of Section 10.2(b) shall apply and govern this Indenture.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article XIII shall be subordinated to the Senior Indebtedness of such Subsidiary Guarantor to the same extent and in the same manner as the Securities are 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 or retain payments by any of the Subsidiary Guarantors only at such times as they may receive or retain payments in respect of the Securities pursuant to this Indenture, including Article XIV hereof.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Indenture or any supplemental indenture executed by such Subsidiary Guarantor are subordinated in right of payment to the prior payment in full in cash of all Senior Indebtedness of such Subsidiary Guarantor on the same basis as the Notes are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, (a) the Trustee and the holders of the Notes 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 Notes pursuant to this Indenture, including Article 16 hereof and (b) Section 16.2 shall apply as to each Subsidiary Guarantor and its Guarantee on the same basis as it applies to the Company and the Notes (except that, as to any Subsidiary Guarantor, the clauses in the last paragraph of Section 16.2 that read "the terms and conditions set forth in Article 10" and "comply with the conditions set forth in Article 10" shall be deemed to read, respectively, "the terms and conditions set forth in Section 15.11"
SUBORDINATION OF SUBSIDIARY GUARANTEES. Each Guarantee of a Guarantor under this Article 12 is subordinate and junior in right of payment to the prior payment in full, in cash, or at the option of the holders of Senior Debt of such Guarantor, in Cash Equivalents, of all Senior Debt of such Guarantor, including any Guarantee issued by such Guarantor that constitutes Senior Debt of such Guarantor, to the same extent and in the same manner to which the Notes are subordinated pursuant to Article 10 hereof to the Senior Debt of the Company, and all provisions of Article 10 hereof applicable to the subordination of the Notes shall similarly apply to the subordination of the Subsidiary Guarantees pursuant to this Article 12.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 7 is subordinated in right of payment to the prior payment in full in cash or Cash Equivalents of all Senior Indebtedness of the Subsidiary Guarantor on the same basis as the Notes are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, the Holders of Notes 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 Note, including Article 7. In the event that the Holders receive any Subsidiary Guarantor payment at a time when such payment is prohibited by the foregoing sentence, such Subsidiary Guarantor payment shall be paid over and delivered to the holders of the Senior Indebtedness of the Subsidiary Guarantor remaining unpaid, to the extent necessary to pay in full in cash or Cash Equivalents all such Senior Indebtedness of the Subsidiary Guarantor. Each Holder of a Note by its acceptance thereof agrees to and shall be bound by the provisions of this Section 7.6.
