Common use of Subordinated Notes, Etc Clause in Contracts

Subordinated Notes, Etc. (a) The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined herein and in the Subsidiaries Guaranty) are within the definition of "Senior Debt" included in such subordination provisions. (b) The subordination provisions contained in the Seller Subordinated Notes and in the other Seller Subordinated Note Documents are enforceable against Holdings and the holders of the Seller Subordinated Notes, and all Guaranteed Obligations are within the definition of "Senior Debt" included in such subordination provisions. (c) After the issuance thereof, the subordination provisions contained in any Additional Subordinated Debt will be enforceable against Holdings or the Borrower, as the case may be, and the holders of the Additional Subordinated Debt, and all Obligations and Guaranteed Obligations (as applicable) will be within the definition of "Senior Debt" included in such subordinated provisions.

Subordinated Notes, Etc. (a) The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined herein and in the Subsidiaries Guaranty) are within the definition of "Senior Debt" included in such subordination provisions. (b) The subordination provisions contained in the Seller Subordinated Notes and in the other Seller Subordinated Note Documents Debentures are enforceable against Holdings the Borrower and the holders of the Seller Subordinated NotesDebentures, and all Guaranteed Obligations consisting of principal and interest are within the definition of "Senior Debt" included in such subordination provisions. (c) After the issuance thereof, the subordination provisions contained in any Additional Subordinated Debt will be enforceable against Holdings or the Borrower, as the case may be, respective Credit Parties obligated thereunder and the holders of the Additional Subordinated Debt, and all Obligations and Guaranteed Obligations (as applicabledefined in the Subsidiaries Guaranty) will be within the definition of "Senior Debt" included in such subordinated provisions. (d) After the issuance thereof, the subordination provisions contained in any Shareholder Subordinated Note will be enforceable against the Borrower and the holders of such Shareholder Subordinated Note, and all Obligations will be within the definition of "Senior Indebtedness" included in such subordinated provisions.

Subordinated Notes, Etc. (a) The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined herein and in the Subsidiaries Guaranty) are within the definition of "Senior Debt" included in such subordination provisions. (b) The subordination provisions contained in the Seller Subordinated Notes and in the other Seller Subordinated Note Documents are enforceable against Holdings and the holders of the Seller Subordinated Notes, and all Guaranteed Obligations are within the definition of "Senior Debt" included in such subordination provisions. (c) After the issuance thereof, the subordination provisions contained in any Additional Subordinated Debt will be enforceable against Holdings or the Borrower, as the case may be, and the holders of the Additional Subordinated Debt, and all Obligations and Guaranteed Obligations (as applicable) will be within the definition of "Senior Debt" included in such subordinated provisions. (d) After the issuance thereof, the subordination provisions contained in any Shareholder Subordinated Note will be enforceable against Holdings and the holders of such Shareholder Subordinated Note, and all Guaranteed Obligations (as defined herein) will be within the definition of "Senior Indebtedness" included in such subordinated provisions.