Common use of Notes Subordinated to Senior Indebtedness Clause in Contracts

Notes Subordinated to Senior Indebtedness. The Company and each Holder, by its acceptance of Notes, agree that (a) the payment of the principal of and interest on the Notes and (b) any other payment in respect of the Notes, including on account of the acquisition or redemption of the Notes by the Company and any premium and Liquidated Damages (including, without limitation, pursuant to Article XI (but specifically excluding payments to the Trustee for its own benefit), and including the payment of cash, property or securities (other than Junior Securities) upon conversion of a Note, is subordinated, to the extent and in the manner provided in this Article XII, to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter created, incurred, assumed or guaranteed, and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. This Article XII 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.

Notes Subordinated to Senior Indebtedness. The Company Notwithstanding anything in this Agreement or the Notes to the contrary, the Company, for itself and its successors, and each Holder, by its acceptance of the Notes, agree agrees that (a) the payment of the principal of and interest or premium on the Notes and (b) any other payment in respect of the Notes, including on account of the acquisition or redemption of the Notes by the Company and any premium and Liquidated Damages (including, without limitation, pursuant to Article XI (but specifically excluding payments to the Trustee for its own benefit), and including the payment of cash, property SECTION 5.8 or securities (other than Junior Securities) upon conversion of a Note5.11, is subordinated, to the extent and in the manner provided in this Article XIISECTION 8, to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter created, incurred, assumed or guaranteed, Company and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. References in this SECTION 8 to "SENIOR INDEBTEDNESS" are to Senior Indebtedness of the Company and of the Subsidiary Guarantors. This Article XII SECTION 8 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.

Notes Subordinated to Senior Indebtedness. The Company Company, for itself and its successors, and each Holder, by its his acceptance of Notes, agree agrees that (a) the payment of the principal of and interest on the Notes and (including interest at the default rate), (b) any other payment in respect of the Notes, including on account of the acquisition or redemption of the Notes by the Company and any premium and Liquidated Damages (including, without limitation, pursuant to Article XI (but specifically excluding payments to the Trustee for its own benefit)Section 5.8 or 5.11, and including (c) all other payment obligations of the payment of cashCompany hereunder, property or securities (other than Junior Securities) upon conversion of a Noteincluding, without limitation, obligations with respect to fees, expenses and indemnities is subordinated, to the extent and in the manner provided in this Article XIISection 8, to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter created, incurred, assumed or guaranteed, Company and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. This Article XII Section 8 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.

Notes Subordinated to Senior Indebtedness. The Company and each Holder, by its acceptance of Notes, agree that (a) the payment of the principal of and of, premium, if any, or interest on the Notes and (b) any other payment in respect of the Notes, including on account of the acquisition or redemption of the Notes by the Company and any premium and Liquidated Damages (including, without limitation, pursuant to Article XI (but specifically excluding payments to Section 2(b) of the Trustee for its own benefit), and including the payment of cash, property or securities (other than Junior SecuritiesNotes) upon conversion of a Note, is subordinated, to the extent and in the manner provided in this Article XII, to the prior payment in full of all Senior Indebtedness of the Company, and all other Obligations in respect thereof, whether outstanding at the date of this Indenture or thereafter created, incurred, assumed or guaranteed, and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. This Article XII 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. To the extent any provision of this Article XII conflicts or is inconsistent with any other provision of this Indenture, the provisions of this Article XII shall govern and supersede such inconsistent or conflicting provision.