Common use of SUBORDINATION OF SUBSIDIARY GUARANTEES Clause in Contracts

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 Obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article XIII XI shall be junior and subordinated to the Senior Indebtedness Debt of such Subsidiary Guarantor to on the same extent and in the same manner basis as the Securities Notes are junior and subordinated to Senior Indebtedness Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments by any of the Subsidiary Guarantors only at such times as they may receive or and/or retain payments in respect of the Securities Notes pursuant to this Indenture, including Article XIV X hereof.

SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations Obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article XIII XI shall be junior and subordinated to the Senior Indebtedness of such Subsidiary Guarantor to on the same extent and in the same manner basis as the Securities Notes 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 or and/or retain payments by any of the Subsidiary Guarantors only at such times as they may receive or and/or retain payments in respect of the Securities Notes pursuant to this Indenture, including Article XIV X hereof.

SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each of the Subsidiary Guarantor Guarantors under its Subsidiary Guarantee pursuant to this Article XIII 11 shall be junior and subordinated to the Senior Indebtedness Debt of such the Subsidiary Guarantor pursuant to the same extent and in the same manner as the Securities are subordinated to Senior Indebtedness of the CompanyArticle 10 hereof. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments or distributions by or on behalf of any of the Subsidiary Guarantors only at such times as they may receive or and/or retain payments in respect of the Securities Notes pursuant to this Indenture, including Article XIV 10 hereof.

SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each of the Subsidiary Guarantor Guarantors under its Subsidiary Guarantee pursuant to this Article XIII 11 shall be junior and subordinated to the Guarantor Senior Indebtedness Debt of such the Subsidiary Guarantor pursuant to the same extent and in the same manner as the Securities are subordinated to Senior Indebtedness of the CompanyArticle 10 hereof. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or and/or retain payments or distributions by or on behalf of any of the Subsidiary Guarantors only at such times as they may receive or and/or retain payments in respect of the Securities pursuant to this Indenture, including Article XIV 10 hereof.