Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities. (a) The holders of Senior Indebtedness of the Company shall be entitled to receive payment in full in cash of all payments of principal of (and premium, if any) interest, if any, and additional interest, if any, due in respect of Senior Indebtedness of the Company (including interest after the commencement of any bankruptcy proceeding at the rate specified in the applicable Senior Indebtedness of the Company) before the Holders of the Securities shall be entitled to receive any payment with respect to (or any other obligations relating to) the Securities or any distribution of assets or proceeds in the event of any distribution to creditors of the Company in connection with:
Appears in 8 contracts
Samples: FedNat Holding Co, FEDNAT HOLDING Co, Indenture (Federated National Holding Co)
