Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor or subject to the restrictions set forth in this Article 12, and none of the Holders shall be obligated to pay over any such amount to a Guarantor or any holder of Senior Indebtedness of a Guarantor or any other creditor of a Guarantor.
Appears in 8 contracts
Samples: Indenture (Verso Paper Corp.), Third Supplemental Indenture (Verso Paper Corp.), Indenture (Covalence Specialty Adhesives LLC)
Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 10 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor the Company or subject to the restrictions set forth in this Article 1210, and none of the Holders shall be obligated to pay over any such amount to a Guarantor the Company or any holder of Senior Indebtedness of a Guarantor the Company or any other creditor of a Guarantorthe Company.
Appears in 5 contracts
Samples: Indenture (Covalence Specialty Adhesives LLC), Indenture (MPM Silicones, LLC), Indenture (Goodman Holding CO)
Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 10 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor the Company or subject to the restrictions set forth in this Article 1210, and none of the Holders shall be obligated to pay over any such amount to a Guarantor the an Issuer or any holder of Senior Indebtedness of a Guarantor such Issuer or any other creditor of a Guarantorsuch Issuer.
Appears in 3 contracts
Samples: Indenture (Verso Paper Corp.), Third Supplemental Indenture (Verso Paper Corp.), Indenture (Verso Sartell LLC)
Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor or subject to the restrictions set forth in this Article 12, and none of the Holders shall be obligated to pay over any such amount to a Guarantor or any holder of Senior Indebtedness of a Guarantor or any other creditor of a Guarantor.. TRDOCS01/76765.8 Article 13 MISCELLANEOUS
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Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 10 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor the Issuer or subject to the restrictions set forth in this Article 1210, and none of the Holders shall be obligated to pay over any such amount to a Guarantor the Issuer or any holder of Senior Indebtedness of a Guarantor the Issuer or any other creditor of a Guarantorthe Issuer.
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Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 11 for the payment of principal obligations of and interest on the Securities a Guarantor hereunder shall not be subordinated to the prior payment of any Senior Indebtedness Debt of any a Guarantor or subject to the restrictions set forth in this Article 1211, and none of the Holders holders shall be obligated to pay over any such amount to a Guarantor or any holder of Senior Indebtedness Debt of a Guarantor or any other creditor of a Guarantor.
Appears in 1 contract
Samples: Indenture (VHS of Anaheim Inc)
Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 12 for the payment of principal of and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of any Guarantor or subject to the restrictions set forth in this Article 12, and none of the Holders shall be obligated to pay over any such amount to a Guarantor or any holder of Senior Indebtedness of a Guarantor or any other creditor of a Guarantor.. 103
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