TWELVE SUBORDINATION OF SECURITIES Sample Clauses

TWELVE SUBORDINATION OF SECURITIES. 50 Section 12.02 Obligation of the Company Unconditional............................................... 52 Section 12.03 Notice to Trustee of Facts Prohibiting Payment........................................ 52 Section 12.04 Application by Trustee of Moneys Deposited with It.................................... 53 Section 12.05 Subrogation to Rights of Holders of Senior Indebtedness............................... 53 Section 12.06 Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness......................................................................... 53 Section 12.07 Authorization of Trustee to Effectuate Subordination of Notes......................... 53 Section 12.08 Right of Trustee to Hold Senior Indebtedness.......................................... 54 Section 12.09 Article Twelve Not to Prevent Events of Default....................................... 54 Section 12.10 Article Applicable to Paying Agents................................................... 54 Section 12.11 Reliance on Judicial Order or Certificate of Liquidating Agent........................ 54 Section 12.12 Trustee Not Fiduciary for Holders of Senior Indebtedness.............................. 54 Section 12.13 Payment Permitted If No Default....................................................... 55 ARTICLE THIRTEEN MISCELLANEOUS PROVISIONS........................................................................ 55 Section 13.01 Provisions Binding on Company's Successors............................................ 55 Section 13.02 Official Acts by Successor............................................................ 55 Section 13.03 Addresses for Notices; etc............................................................ 55 Section 13.04 Governing Law......................................................................... 55 Section 13.05 Evidence of Compliance with Conditions Precedent...................................... 56 Section 13.06 Legal Holidays........................................................................ 56
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TWELVE SUBORDINATION OF SECURITIES. 52 SECTION 1201. AGREEMENT TO SUBORDINATE....................................................52 SECTION 1202. DEFAULT ON SENIOR INDEBTEDNESS..............................................52 SECTION 1203. LIQUIDATION; DISSOLUTION; BANKRUPTCY........................................53 SECTION 1204. SUBROGATION.................................................................54 SECTION 1205.
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TWELVE SUBORDINATION OF SECURITIES. 62 SECTION 1201. Securities Subordinated to Senior Indebtedness.......................................... 62 SECTION 1202. Payment Over of Proceeds Upon Dissolution, Etc.......................................... 62 SECTION 1203. Prior Payment to Senior Indebtedness upon Acceleration of Securities.................... 63 SECTION 1204. No Payment When Senior Indebtedness in Default.......................................... 64
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TWELVE SUBORDINATION OF SECURITIES. 54 Section 1201. Applicability of Article.................................................54
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TWELVE SUBORDINATION OF SECURITIES. Section 1201.
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TWELVE SUBORDINATION OF SECURITIES. Unless otherwise provided pursuant to Section 301, the following provisions shall apply to the Securities of any series:
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TWELVE SUBORDINATION OF SECURITIES. 53 SECTION 1201. Agreement to Subordinate . . . . . . . . . . . . . . . . .53 SECTION 1202.
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Related to TWELVE SUBORDINATION OF SECURITIES

  • SUBORDINATION OF SECURITIES 46 Section 1301 Securities Subordinate to Senior Indebtedness....................... 46 Section 1302 Payment Over of Proceeds Upon Dissolution, etc...................... 46 Section 1303 No Payment When Senior Indebtedness in Default...................... 47 Section 1304 Payment Permitted if No Default..................................... 48 Section 1305 Subrogation to Rights of Holders of Senior Indebtedness............. 48 Section 1306 Provisions Solely to Define Relative Rights......................... 48

  • Securityholders Authorize Trustee to Effectuate Subordination of Securities Each Holder of Securities by its acceptance of them authorizes and expressly directs the Trustee on its behalf to take such action as may be necessary or appropriate to effectuate, as between the holders of Senior Debt and the Holders of Securities, the subordination provided in this Article Ten, and appoints the Trustee its attorney-in-fact for such purposes, including, in the event of any dissolution, winding-up, liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of credits or otherwise) tending towards liquidation of the business and assets of the Company, the filing of a claim for the unpaid balance of its Securities and accrued interest in the form required in those proceedings. If the Trustee does not file a proper claim or proof of debt in the form required in such proceeding prior to 30 days before the expiration of the time to file such claim or claims, then the holders of the Senior Debt or their Representative are or is hereby authorized to have the right to file and are or is hereby authorized to file an appropriate claim for and on behalf of the Holders of said Securities. Nothing herein contained shall be deemed to authorize the Trustee or the holders of Senior Debt or their Representative to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee or the holders of Senior Debt or their Representative to vote in respect of the claim of any Holder in any such proceeding.

  • Acquisition of Securities The Company shall not, and shall cause its Affiliates not to, resell or otherwise dispose of any Securities acquired by them, in the open market or otherwise, and shall, and shall cause its Affiliates to, surrender all such Securities acquired to the Trustee for cancellation.

  • Segregation of Securities The Bank shall identify on its books as belonging to the Fund the Foreign Portfolio Securities held by each foreign sub-custodian (each an "Eligible Foreign Custodian") selected by the Foreign Custody Manager, subject to receipt by the Bank of the necessary information from such Eligible Foreign Custodian if the Foreign Custody Manager is not the Bank.

  • Reservation of Securities The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Transaction Documents in such amount as may be required to fulfill its obligations in full under the Transaction Documents. In the event that at any time the then authorized shares of Common Stock are insufficient for the Company to satisfy its obligations in full under the Transaction Documents, the Company shall promptly take such actions as may be required to increase the number of authorized shares.

  • Payment of Securities 30 SECTION 4.02.

  • Acceleration of Securities If payment of the Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the acceleration.

  • Disposition of Securities The Buyer shall not sell any Securities except as provided in this Agreement, the Registration Rights Agreement and the “Plan of Distribution” section of the prospectus included in the Registration Statement. The Buyer shall not transfer any Securities except pursuant to sales described in the “Plan of Distribution” section of the prospectus included in the Registration Statement or pursuant to Rule 144 under the 1933 Act. In the event of any sales of Securities pursuant to the Registration Statement, the Buyer will (i) effect such sales pursuant to the “Plan of Distribution” section of the prospectus included in the Registration Statement, and (ii) will comply with all applicable prospectus delivery requirements.

  • Replacement of Securities If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.

  • Subrogation of Securities Subject to the payment in full of all Senior Indebtedness of the Company, the rights of the holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness of the Company to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness of the Company until the principal of (and premium, if any) and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the holders of the Securities or the Trustee would be entitled except for the provisions of this Article XII no payment over pursuant to the provisions of this Article XII, to or for the benefit of the holders of Senior Indebtedness of the Company by holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness of the Company. It is understood that the provisions of this Article XII are and are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the holders of the Senior Indebtedness of the Company, on the other hand. Nothing contained in this Article XII or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of its Senior Indebtedness, and the holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Securities and creditors of the Company other than the holders of its Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XII of the holders of Senior Indebtedness of the Company in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article XII, the Trustee, subject to the provisions of Section 6.01, and the holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the holders of the Securities, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XII.

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