Common use of Securities Subordinate to Senior Debt Clause in Contracts

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 173 contracts

Samples: Indenture (Paragon Commercial CORP), Junior Subordinated Indenture (Pacific Crest Capital Inc), Indenture (Impac Mortgage Holdings Inc)

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Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 16 contracts

Samples: Guarantee Agreement (Comerica Capital Trust Ii), Declaration of Trust (First Security Capital V), Declaration of Trust (Provident Capital Trust Iii)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt, except as otherwise provided in Section 4.2.

Appears in 10 contracts

Samples: Junior Subordinated Indenture (Novastar Financial Inc), Junior Subordinated Indenture (Novastar Financial Inc), Junior Subordinated Indenture (Novastar Financial Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 9 contracts

Samples: Subordinated Indenture (Great Wolf Resorts, Inc.), Junior Subordinated Indenture (Mercantile Bancorp, Inc.), Deerfield Triarc Capital Corp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 7 contracts

Samples: Lincoln National Corp, Trust Agreement (Hartford Financial Services Group Inc/De), Sierra Pacific Resources Capital Trust Ii

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 6 contracts

Samples: Boston Properties LTD Partnership, Boston Properties LTD Partnership, TPG Nv

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made (i) subordinate and subject in right of payment to the prior payment in full of all Senior Debt and (ii) senior and shall have a right of payment in full prior to the right of payment of the Junior Debt.

Appears in 6 contracts

Samples: Junior Subordinated Indenture (Anthracite Capital Inc), Anthracite Capital Inc, Anthracite Capital Inc

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Fifteen), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities (including any amounts payable upon a purchase of the Securities) are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 6 contracts

Samples: Eg&g Inc, Eg&g Inc, Unova Inc

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 5 contracts

Samples: Securities Indenture (National City Capital Trust I), Indenture (Bancorpsouth Inc), Execution Copy (Bancorp Hawaii Capital Trust I)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter hereafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 4 contracts

Samples: Resource Capital Trust I, Guaranty Capital Trust I, Southern Financial Capital Trust I

Securities Subordinate to Senior Debt. The Company Company, for itself, its successors and assigns, covenants and agrees, and each Holder of a Security, likewise covenants and agrees by its his acceptance thereof, likewise covenants and agrees, that, that the obligations of the Company to the extent and in the manner hereinafter set forth in this Article XII, the make any payment on account of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made shall be subordinate and subject junior, to the extent and in the manner hereinafter set forth, in right of payment and upon liquidation to the prior payment in full Company’s obligations to the holders of all Senior DebtDebt of the Company.

Appears in 3 contracts

Samples: Indenture (Privatebancorp Capital Trust Iv), Indenture (Evans Capital Trust III), Bridge Statutory Capital Trust I

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Increased Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Temecula Valley Bancorp Inc, Temecula Valley Bancorp Inc, First Chester County Corp

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt of the Corporation.

Appears in 3 contracts

Samples: Scana Corp, South Carolina Electric & Gas Co, Scana Corp

Securities Subordinate to Senior Debt. The Company Operating Partnership covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Vornado Realty Trust, Vornado Realty Lp, Vornado Realty Lp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt, except as otherwise provided in section 4.2.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Resource Capital Corp.), Junior Subordinated Indenture (Novastar Financial Inc), Resource Capital Corp.

Securities Subordinate to Senior Debt. The Except as otherwise provided in a supplemental indenture or pursuant to Section 301 the Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 3 contracts

Samples: Indenture (Forest City Enterprises Inc), Scholastic Corp, Scholastic Corp

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Indenture (Riggs National Corp), Riggs Capital Ii

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.. 60

Appears in 2 contracts

Samples: Simmons First National Corp, Simmons First National Corp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.. EXHIBIT D

Appears in 2 contracts

Samples: Trust Agreement (Hanmi Financial Corp), Trust Agreement (Hanmi Financial Corp)

Securities Subordinate to Senior Debt. The Company covenants ------------------------------------- and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter hereafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 2 contracts

Samples: Commonwealth Bankshares Inc, Commonwealth Bankshares Inc

Securities Subordinate to Senior Debt. The Each of the Company and the Guarantor covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Allianz Finance III B.V., Allianz Finance III B.V.

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed).

Appears in 2 contracts

Samples: Indenture (Validus Holdings LTD), Validus Holdings LTD

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 2 contracts

Samples: Silicon Valley Bancshares, Silicon Valley Bancshares

Securities Subordinate to Senior Debt. The Each of the Guarantor and the Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Thornburg Mortgage Inc), Junior Subordinated Indenture (Thornburg Mortgage Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article VIII), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Transtexas Gas Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Supplemental Indenture (BRT Realty Trust)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Twelve), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Nextlink Communications LLC

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt. SECTION 12.2.

Appears in 1 contract

Samples: Simmons First National Corp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of and of, any premium and interest (including any Additional Interest) on and any Additional Amounts with respect to each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: MRM Capital Trust Iii

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Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any 5093320 04310929 Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Bimini Capital Management, Inc.

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the ------------ principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (First Banks, Inc)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter herein after set forth in this Article XIIArticle, the indebtedness represented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Granite Broadcasting Corp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Xxxxxxxx), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: OM Asset Management PLC

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtIndebtedness of the Corporation.

Appears in 1 contract

Samples: Sce&g Trust I

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article Four and Article Fifteen), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Pathology Building Partnership)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any . Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Trust Agreement (Centennial Bank Holdings, Inc.)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII(subject to the provisions of Article VIII), the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Transtexas Gas Corp)

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment 108 117 of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: North Fork Capital Trust I

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are is hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtDebt of the Company.

Appears in 1 contract

Samples: Capitalsource Inc

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt. Notwithstanding anything herein to the contrary, the Securities shall be senior to the trade debt of the Company incurred in the ordinary course of business.

Appears in 1 contract

Samples: Morgans Hotel Group Co.

Securities Subordinate to Senior Debt. The Company Issuer covenants and agrees, and each Holder of a Debt Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter herein after set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Debt Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Financial Security Assurance Holdings LTD/Ny/

Securities Subordinate to Senior Debt. The Company Corporation covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior DebtIndebtedness of the Corporation.

Appears in 1 contract

Samples: Subordinated Indenture (Sea Pines Associates Inc)

Securities Subordinate to Senior Debt. The Company Issuer covenants and agrees, and each Holder of a Debt Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Debt Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Indenture (Financial Security Assurance Holdings LTD/Ny/)

Securities Subordinate to Senior Debt. The Company ------------- ------------------------------------- covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIXIII, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Chittenden Capital Trust I

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the indebtedness repre sented by the Securities and the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

Appears in 1 contract

Samples: Granite Broadcasting Corp

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt of the Company (which for purposes of this Article XII only, shall be defined as “Senior Debt”) .

Appears in 1 contract

Samples: Flagstone Reinsurance Holdings LTD

Securities Subordinate to Senior Debt. The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of (and any premium premium, if any) and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt. SECTION 13.2.

Appears in 1 contract

Samples: Republic New York Capital Iv

Securities Subordinate to Senior Debt. The Company -------------------------------------- covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIIArticle, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject junior in right of payment to the prior payment in full of all amounts then due and payable in respect of all Senior Debt.

Appears in 1 contract

Samples: Central Fidelity Capital Trust I

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