Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees that all Securities shall be issued subject to the provisions of this Article Fourteen; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article Fourteen, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 6 contracts
Samples: Indenture (Pacific Ethanol, Inc.), Indenture (Globalstar, Inc.), Indenture (Globalstar, Inc.)
Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees agrees, that all Securities shall be issued subject to the provisions of this Article FourteenFifteen; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, of and interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article FourteenFifteen, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 4 contracts
Samples: El Paso Pipeline Partners Operating Company, L.L.C., TODCO Mexico Inc., Newpark Resources Inc
Securities Subordinated to Senior Debt. The Company and the Trustee each Partnership covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees agrees, that all Securities shall be issued subject to the provisions of this Article FourteenFifteen; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, of and interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article FourteenFifteen, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 3 contracts
Samples: Indenture (Cheniere Energy Partners, L.P.), Cheniere Energy Partners, L.P., Sanchez Production Partners LP
Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and the Trustee and each Holder, Holder by its acceptance of a Securitythe Securities likewise covenant and agree, likewise covenants and agrees that all Securities shall be issued subject to the provisions of this Article FourteenArticle; and each Person person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment all payments of the principal of, interest and premium, if any, and interest (including Additional Interest) on each and all of the Securities by the Company shall, to the extent and in the manner set forth in this Article FourteenArticle, be subordinated and junior in right of payment to the prior payment in full, full in cash or cash equivalents, of all existing and future Senior DebtDebt of the Company.
Appears in 2 contracts
Samples: Triton PCS Inc, Triton PCS Holdings Inc
Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees that all Securities shall be issued subject to the provisions of this Article FourteenFifteen; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article FourteenFifteen, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 2 contracts
Samples: DEP Operating Partnership, L.P., Constellation Energy Partners LLC
Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees agrees, that all Securities shall be issued subject to the provisions of this Article FourteenFifteen; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, of and interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article FourteenFifteen, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 2 contracts
Samples: Indenture (Tetra Technologies Inc), Rowan Companies Inc
Securities Subordinated to Senior Debt. The Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a Security, likewise covenants and agrees that all Securities shall be issued subject to the provisions of this Article FourteenEleven; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of the principal of, interest and premium, if any, on each and all of the Securities shall, to the extent and in the manner set forth in this Article FourteenEleven and in the Intercreditor Agreement, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all existing and future Senior Debt.
Appears in 1 contract
