Common use of Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness Clause in Contracts

Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness pursuant to this Article 9, the Holders of Securities shall be subrogated equally and ratably to the rights of the holders of Senior Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness until all amounts owing on the Securities shall be paid in full, and for the purpose of such subrogation no such payments or distributions to the holders of Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article 9 which otherwise would have been made to the Holders shall, as among the Company, its creditors other than holders of the Senior Indebtedness and the Holders, be deemed to be payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article 9 are and are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and the holders of Senior Indebtedness, on the other hand.

Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness pursuant to this Article 9of the Company as provided herein, the Holders of Securities shall be subrogated equally and ratably to the rights of the holders of such Senior Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness until all amounts owing on the Securities Securi- ties shall be paid in full, and for the purpose of such subrogation no such payments or distributions to the holders of such Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article 9 XII, which otherwise would have been made to the Holders shall, as among between the Company, its creditors other than holders of the Senior Indebtedness Company and the Holders, be deemed to be payment by the Company to or on account of the such Senior Indebtedness, it being understood that the provisions of this Article 9 XII are and are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and the holders of such Senior Indebtedness, on the other hand.

Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness pursuant to this Article 9indebtedness, the Holders of Securities shall be subrogated equally and ratably to the rights of the holders Holders of Senior Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness until all amounts owing on the Securities shall be paid in full, and for the purpose of such subrogation no such payments or distributions to the holders of Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders by virtue of this Article 9 article which otherwise would have been made to the Holders shall, as among between the Company, its creditors other than holders of the Senior Indebtedness Company and the Holders, be deemed to be payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article 9 article are and are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and the holders of Senior Indebtedness, on the other hand.

Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness pursuant to this Article 9Indebtedness, the Holders of the Securities shall be subrogated equally and ratably to the rights of the holders of the Senior Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness until all amounts owing on the Securities shall be paid in full, and for the purpose of such subrogation no such payments or distributions to the holders of the Senior Indebtedness by or on behalf of the Company or by or on behalf of the Holders of the Securities by virtue of this Article 9 Eleven which otherwise would have been made to the Holders of the Securities shall, as among between the Company, its creditors other than holders of the Senior Indebtedness and the HoldersHolder of the Securities, be deemed to be payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article 9 are and Eleven are intended solely for the purpose of defining the relative rights of the HoldersHolders of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand.

Securityholders to Be Subrogated to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness pursuant to this Article 9as provided herein, the Holders of Securities shall be subrogated equally and ratably to the rights of the holders of such Senior Indebtedness to receive payments or distributions of assets of the Company applicable to the Senior Indebtedness until all amounts owing on the Securities shall be paid in full, and for the purpose of such subrogation no such payments or distributions to the holders of such Senior Indebtedness by or on behalf of the Company Company, or by or on behalf of the Holders by virtue of this Article 9 XI, which otherwise would have been made to the Holders shall, as among between the Company, its creditors other than holders of the Senior Indebtedness Company and the Holders, be deemed to be payment by the Company to or on account of the such Senior Indebtedness, it being understood that the provisions of this Article 9 XI are and are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and the holders of such Senior Indebtedness, on the other hand.. If any payment or distribution to which the Holders would otherwise have been entitled but for the provisions of this Article XI shall have been applied, pursuant to the