Debentures Subordinated to Senior Indebtedness. Notwithstanding the provisions of Section 6.10 hereof or any other provision herein or in any Debenture, the Company and the Trustee and, by their acceptance thereof, the Holders of the Debentures (a) covenants and agrees that all payments by the Company of the principal of and premium, if any, and interest on the Debentures (other than Debentures which have been discharged pursuant to Article 8) shall be subordinated in accordance with the provisions of this Article 10 to the prior payment in full, in cash or cash equivalents, of all amounts payable on, under or in connection with Senior Indebtedness, and (b) acknowledges that holders of Senior Indebtedness are or shall be relying on this Article 10.
Debentures Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder, by such Holder's acceptance thereof, likewise covenants and agrees, that the indebtedness represented by the Debentures and the payment of the principal of and interest on each and all of the Debentures is hereby expressly subordinated and junior, to the extent and in the manner as set forth in this Section 6.1, in right of payment to the prior payment in full of all Senior Indebtedness. This Article VI shall supersede and replace Article X of the Base Indenture in its entirety.
Debentures Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder, by such Holder's acceptance thereof, likewise covenants and agrees, that the indebtedness represented by the Debentures and the payment of the principal of and interest on each and all of the Debentures is hereby expressly subordinated and junior, to the extent and in the manner set forth and as set forth in this Section 6.1, in right of payment to the prior payment in full of all Senior Indebtedness.
Debentures Subordinated to Senior Indebtedness. Notwithstanding the provisions of Section 6.11 or any other provision herein or in any Debenture, the Company and the Trustee and, by their acceptance thereof, the Holders of the Debentures (a) covenant and agree that all payments by the Company of the principal of and premium, if any, and interest on the Debentures (other than Debentures which have been discharged pursuant to Article 8 or Debentures that provide for a sinking fund pursuant to Article 11) shall be subordinated in accordance with the provisions of this Article 10 to the prior payment in full, in cash or cash equivalents, of all amounts payable on, under or in connection with Senior Indebtedness, and (b) acknowledge that holders of Senior Indebtedness are or shall be relying on this Article 10. Nothing herein or in any Debenture is intended to or shall limit the amount of Senior Indebtedness the Company may incur.
Debentures Subordinated to Senior Indebtedness. The Company covenants and agrees, and each holder of a Debenture, whether upon original issue or upon transfer, assignment or exchange thereof by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Section 14, the payment of the principal of and interest (except interest paid in the form of Junior Securities) on each and all of the Debentures are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash or cash equivalents of all Senior Indebtedness.
Debentures Subordinated to Senior Indebtedness. The Company, for itself and its successors, and each Holder, by his acceptance of Debentures, agrees that (a) the payment of the principal of, premium, if any, and interest on the Debentures and (b) any payment on account of the acquisition or redemption of the Debentures by the Company including, without limitation, pursuant to Section 12.1 hereof, is subordinated, to the extent and in the manner provided in this Article XI, to the prior payment in full of all Senior Indebtedness of the Company and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. This Article XI shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.
Debentures Subordinated to Senior Indebtedness. The Company, for itself, its successors and assigns, covenants and agrees, and each Holder of a Debenture, by his acceptance thereof, likewise covenants and agrees, that the indebtedness evidenced by the Debentures, including the payment of the principal thereof and interest thereon, shall be subordinate and junior in right of payment, to the extent and in the manner set forth in this Article 5, to the prior payment in full of all Senior Indebtedness, and that each holder of Senior Indebtedness whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Debentures. The Debentures shall not be superior in right of payment to the payment of the indebtedness evidenced by the Company's 3.5% Convertible Subordinated Debenture due 1999, the Company's 3.0% Convertible Subordinated Note due 1996 and the Company's 6.75% Convertible Subordinated Debentures due 2002, but shall rank pari passu in all respects with ---- ----- such obligation(s). In addition, all Debentures of this issue rank as to payment of principal and interest equally and ratably, without priority one over the other. The provisions of this Article 5 are made for the benefit of all holders of Senior Indebtedness and any such holder may proceed to enforce such provisions. Notwithstanding anything contained in this Indenture or the Debentures to the contrary, all the provisions of this Indenture and the Debentures shall be subject to the provisions of this Article 5, so far as they may be applicable thereto.
Debentures Subordinated to Senior Indebtedness. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Debenture, likewise covenants and agrees that all Debentures shall be issued subject to the provisions of this Article Four; and each Person holding any Debentures, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that Subordinated Obligations shall, to the extent and in the manner set forth in this Article Four, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Indebtedness, including, without limitation, the Company's obligations under the 1998 Notes (including any interest accruing subsequent to an event specified in Sections 7.01(b) and 7.01(c) of this Indenture, whether or not such interest is an allowed claim enforceable against the debtor under the United States Bankruptcy Code).
Debentures Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder by his acceptance thereof likewise covenants and agrees, that all Debentures are subject to the provisions of this Article XI; and each Person holding any Debenture, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions and acknowledges that such provisions are for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness. Each Holder authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate, in the sole discretion of the Trustee, to acknowledge or effectuate the subordination between the Holders and the holders of Senior Indebtedness as provided in this Article and appoints the Trustee as such Holder’s attorney-in-fact for any and all such purposes. The payment of the principal of, premium, if any, and interest (including Additional Interest, if any) on and any other payment due pursuant to this Indenture or any Debentures issued hereunder (including, without limitation, the payment or deposit of the Redemption Price, Make Whole Optional Redemption Premium, Optional Repurchase Price or Fundamental Change Payment pursuant to Article III) shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the Issue Date or thereafter created, incurred, assumed or guaranteed. Each Holder by accepting a Debenture acknowledges and agrees that the subordination provision set forth in this Article XI are, and are intended to be, an inducement and consideration to each holder of any Senior Indebtedness of the Company, whether such Senior Indebtedness was created before or after the issuance of the Debentures, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied upon such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness, and such holder is made an obligee hereunder and may enforce directly such subordination provisions.
Debentures Subordinated to Senior Indebtedness. The Company covenants and agrees, for itself and its successors and assigns, and each Holder of any Debenture, by its acceptance thereof, shall be deemed to have agreed, that the Subordinated Indebtedness and the Subordinated Debt Documents shall be and hereby are subordinate and subject in right of payment, to the extent and in the manner hereinafter set forth, to the prior irrevocable payment in full in cash of all Senior Indebtedness and termination of all lending commitments (including provision of cash collateral for contingent obligations in respect of letters of credit, if applicable), and that each holder of Senior Indebtedness, whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the provisions contained in this Section 5.
