Common use of Trust Monies Not Subordinated Clause in Contracts

Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary and subject to the prior satisfaction of all of the conditions set forth in Article IX, payments from money held in trust under Article IX by the Trustee for the payment of Contingent Payments on the Securities shall not be subordinated to the prior payment of any Senior Debt of the Company or subject to the restrictions set forth in this Article Thirteen and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of Senior Debt of the Company or any other creditor of the Company, in each case so long as (and only so long as) at the time the respective amounts were deposited pursuant to Article IX, such amounts would have been permitted to be paid directly in respect of Obligations in respect of the Securities in accordance with the provisions (other than this Section 13.13) of this Article XIII.

Appears in 2 contracts

Samples: Indenture (Jazz Casino Co LLC), Indenture (Jazz Casino Co LLC)

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Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary and subject to the prior satisfaction of all of the conditions set forth in Article IX, payments from money held in trust under Article IX by the Trustee for the payment of Contingent Payments on the Securities shall not be subordinated to the prior payment of any Senior Debt of the Company or subject to the restrictions set forth in this Article Thirteen and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of Senior Debt of the Company or any other 100 creditor of the Company, in each case so long as (and only so long as) at the time the respective amounts were deposited pursuant to Article IX, such amounts would have been permitted to be paid directly in respect of Obligations in respect of the Securities in accordance with the provisions (other than this Section 13.13) of this Article XIII.

Appears in 1 contract

Samples: Indenture (Jazz Casino Co LLC)

Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary and subject to the prior satisfaction of all of the conditions set forth in Article IX, payments from money held in trust under Article IX by the Trustee for any payment in respect of the payment of Contingent Payments on the Securities Guaranties shall not be subordinated to the prior payment of any Guarantor Senior Debt of the Company or subject to the restrictions set forth in this Article Thirteen XIV and none of the Holders shall be obligated to pay over any such amount to the Company Guarantors or any holder of Guarantor Senior Debt of the Company or any other creditor of the Company, in each case so long as (and only so long as) at the time the respective amounts were deposited pursuant to Article IX, such amounts would have been permitted to be paid directly in respect of Obligations in respect of the Securities Guaranties in accordance with the provisions (other than this Section 13.1314.13) of this Article XIII.XIV. 105

Appears in 1 contract

Samples: Indenture (Jazz Casino Co LLC)

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Trust Monies Not Subordinated. Notwithstanding ------------------------------ anything contained herein to the contrary and subject to the prior satisfaction of all of the conditions set forth in Article IX, payments from money held in trust under Article IX by the Trustee for any payment in respect of the payment of Contingent Payments on the Securities Guaranties shall not be subordinated to the prior payment of any Guarantor Senior Debt of the Company or subject to the restrictions set forth in this Article Thirteen XIV and none of the Holders shall be obligated to pay over any such amount to the Company Guarantors or any holder of Guarantor Senior Debt of the Company or any other creditor of the Company, in each case so long as (and only so long as) at the time the respective amounts were deposited pursuant to Article IX, such amounts would have been permitted to be paid directly in respect of Obligations in respect of the Securities Guaranties in accordance with the provisions (other than this Section 13.1314.13) of this Article XIIIXIV.

Appears in 1 contract

Samples: Indenture (Jazz Casino Co LLC)

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