Common use of Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities Clause in Contracts

Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities. Subject to Section 15.01, upon any distribution of assets of the Issuer or the Guarantor upon any dissolution, winding up, liquidation or reorganization of the Issuer or the Guarantor, as the case may be, whether in bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshaling of the assets and liabilities of the Issuer or the Guarantor or otherwise (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred in this Indenture upon the Senior Indebtedness and the holders thereof with respect to the Securities and the holders thereof by a lawful plan of reorganization under the Bankruptcy Code or any applicable state bankruptcy laws):

Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities. Subject Except as otherwise specified pursuant to Section 15.01301, upon any distribution of assets of the Issuer or the any Subsidiary Guarantor upon any dissolution, winding up, liquidation or reorganization of the Issuer or the such Subsidiary Guarantor, as the case may be, whether in bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshaling marshalling of the assets and liabilities of the Issuer or the such Subsidiary Guarantor or otherwise (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred in this Indenture upon the Senior Indebtedness Guarantees and the holders thereof with respect to the Securities and the holders thereof by a lawful plan of reorganization under the Bankruptcy Code or any applicable state bankruptcy lawslaw):