Ranking Junior to the Securities definition
Examples of Ranking Junior to the Securities in a sentence
The securing of any obligations of the Company Ranking on a Parity with the Securities or obligations Ranking Junior to the Securities shall not be deemed to prevent such obligations from constituting obligations of the Company Ranking on a Parity with the Securities or obligations Ranking Junior to the Securities.
The securing of any Indebtedness Ranking on a Parity with the Securities or Indebtedness Ranking Junior to the Securities shall not be deemed to prevent such Indebtedness from constituting Indebtedness Ranking on a Parity with the Securities or Indebtedness Ranking Junior to the Securities, respectively.
The securing of any obligations of the Company, otherwise Ranking on a Parity with the Securities or Ranking Junior to the Securities, is not deemed to prevent such obligations from constituting obligations Ranking on a Parity with the Securities or Ranking Junior to the Securities.
The Corporation shall not incur or suffer or permit to exist any Indebtedness that is by its terms subordinated in right of payment to Senior Debt except for Indebtedness Ranking on a Parity with the Securities or Ranking Junior to the Securities.
The Securities shall constitute an unsecured obligation of the Company and rank (i) subordinate and junior in right of payment to all Senior Indebtedness (to the extent and in the manner set forth in Article XV), (ii) pari passu in right of payment with the Other Debentures and any other Indebtedness of the Company which specifically by its terms ranks equal with and not prior to the Securities, and (iii) senior to any Indebtedness Ranking Junior to the Securities.