Suspension of Payment When Senior Indebtedness in Default. The Company may not make any payment or distribution to the Trustee or any Holder in respect of Subordinated Note Obligations and may not acquire from the Trustee or any Holder any Notes for cash or property (other than (i) securities that are subordinated to at least the same extent as the Notes to (a) Senior Indebtedness and (b) any securities issued in exchange for Senior Indebtedness and (ii) payments and other distributions made from the trusts described in Article Twelve) until all Senior Indebtedness has been paid in full in cash or cash equivalents if:
Appears in 5 contracts
Samples: Indenture (KCLC Acquisition Corp), Indenture (Randalls Food Markets Inc), Indenture (Kindercare Learning Centers Inc /De)
