Common use of Limitation on Senior Subordinated Indebtedness Clause in Contracts

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities and subordinate in right of payment to any other Indebtedness of the Company.

Appears in 4 contracts

Samples: Fabrene Group Inc, Polymer Group Inc, Airxcel Inc

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Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities and expressly rank subordinate in right of payment to any other Indebtedness of the CompanySenior Indebtedness.

Appears in 3 contracts

Samples: Tci Satellite Entertainment Inc, Timber Tech Inc, Tci Satellite Entertainment Inc

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, not (i) directly or indirectly, indirectly Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities and expressly rank subordinate in right of payment to any other Senior Debt and (ii) permit a Guarantor to, and no Guarantor shall, directly or indirectly Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the CompanyGuarantee of such Guarantor and expressly rank subordinate in right of payment to any Senior Debt of such Guarantor.

Appears in 3 contracts

Samples: Indenture (Tekni Plex Inc), Definitions and Incorporation by Reference (Dolco Packaging Corp /De/), Tekni Plex Inc

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities of any Series and expressly rank subordinate in right of payment to any other Indebtedness of the CompanySenior Indebtedness.

Appears in 2 contracts

Samples: Indenture (Horton D R Inc /De/), HPH Homebuilders 2000 Lp

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities of any Series and expressly rank subordinate in right of payment to any other Indebtedness of the CompanySenior Indebtedness.

Appears in 2 contracts

Samples: Standard Pacific Corp /De/, Standard Pacific Corp /De/

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Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities Notes and subordinate in right of payment to any other Indebtedness of the Company.

Appears in 1 contract

Samples: St John Knits International Inc

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities and expressly rank subordinate in right of payment to any other Indebtedness of the Company.

Appears in 1 contract

Samples: Indenture (General Chemical Group Inc)

Limitation on Senior Subordinated Indebtedness. (a) The Company shall not, directly or indirectly, Incur incur any Indebtedness that by its terms would expressly rank senior in right of payment to the Securities and expressly rank subordinate in right of payment to any other Indebtedness of the CompanySenior Indebtedness.

Appears in 1 contract

Samples: Fedders North America Inc

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