Subordination of Guaranties. SECTION 12.01.
Subordination of Guaranties. 113 SECTION 14.1. Guaranties Subordinate to Senior Indebtedness of Guarantors. ..........................113 SECTION 14.2. Payment Over of Proceeds Upon Dissolution, etc........114 SECTION 14.3. Prior Payment to Senior Indebtedness v EXECUTION 7
Subordination of Guaranties. In the event Subordinating Lender acquires any guaranty with respect to the Junior Debt, whether secured or unsecured, from any affiliate of Obligors, Subordinating Lender agrees that its rights with respect to such guaranty shall at all times be junior, subordinate and subject to the rights of Agent with respect to any guaranties Agent may receive from such affiliates with respect to the Senior Debt on terms substantially the same as those set forth herein as if such affiliates were Obligors.
Subordination of Guaranties. SECTION 12.01. Agreement To Subordinate................................................................93 SECTION 12.02. Liquidation, Dissolution, Bankruptcy....................................................93 SECTION 12.03. Default on Senior Indebtedness of Parent or Subsidiary Guarantor........................94 SECTION 12.04. Demand for Payment......................................................................96 SECTION 12.05. When Distribution Must Be Paid Over.....................................................96 SECTION 12.06. Subrogation.............................................................................96 SECTION 12.07. Relative Rights.........................................................................97 SECTION 12.08. Subordination May Not Be Impaired by Company............................................97 SECTION 12.09. Rights of Trustee and Paying Agent......................................................97 SECTION 12.10. Distribution or Notice to Representative................................................98 SECTION 12.11. Article 12 Not To Prevent Events of Default or Limit Right To Demand Payment............98 SECTION 12.12. Trustee Entitled To Rely................................................................98 SECTION 12.13. Trustee To Effectuate Subordination.....................................................99 SECTION 12.14. Trustee Not Fiduciary for Holders of Senior Indebtedness of Parent or Subsidiary Guarantor............................................................................99 SECTION 12.15. Reliance by Holders of Senior Indebtedness of Parent or Subsidiary Guarantors on Subordination Provisions.............................................................99
Subordination of Guaranties. Section 13.01.Guaranties Subordinate to Senior Debt; Guaranties PARI PASSU with Senior Subordinated Debt; Guaranties Senior to Subordinated Obligations.............................. 66 Section 13.02.Payment Over of Proceeds Upon Dissolution, Etc........... 66 Section 13.03.No Payment When Senior Debt in Default................... 67 Xxxxxon 13.04.Payment Permitted If No Default.......................... 68 Section 13.05.Subrogation to Rights of Holders of Senior Debt.......... 69 Section 13.06.Provisions Solely to Define Relative Rights.............. 69 Section 13.07.
Subordination of Guaranties. Section 13.01. GUARANTIES SUBORDINATE TO SENIOR DEBT; GUARANTIES PARI PASSU WITH SENIOR SUBORDINATED DEBT; GUARANTIES SENIOR TO SUBORDINATED OBLIGATIONS. Each Guarantor covenants and agrees, and each Holder of a Note, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XIII, the obligations of such Guarantor hereunder and in respect of the Indenture Obligations (the "Guarantor Obligations") are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt of such Guarantor. All provisions of this Article XIII shall be subject to Section 13.14 hereof. The Guarantor Obligations of a Guarantor shall rank PARI PASSU in right of payment with all Senior Subordinated Debt of such Guarantor. The Guarantor Obligations of a Guarantor shall rank senior in right of payment to all Subordinated Obligations of such Guarantor.
Subordination of Guaranties. SECTION 12.01. Agreement To Subordinate..............................................................82 SECTION 12.02.
Subordination of Guaranties. .......................................................... 99 SECTION 12.01. Agreement To Subordinate...................................................... 99 SECTION 12.02. Liquidation, Dissolution, Bankruptcy.......................................... 99 SECTION 12.03. Default on Senior Indebtedness of Guarantor................................... 100 SECTION 12.04. Demand for Payment............................................................ 101 SECTION 12.05. When Distribution Must Be Paid Over........................................... 101 SECTION 12.06. Reinstatement of Senior Indebtedness.......................................... 101 SECTION 12.07. Subrogation................................................................... 102 SECTION 12.08. Relative Rights............................................................... 102 SECTION 12.09. Subordination May Not Be Impaired by Guarantor................................ 102 TABLE OF CONTENTS
Subordination of Guaranties. Without purporting to limit the authority of the ---------------------------- Trustee as may be appropriate in other circumstances, each Holder by his or its acceptance thereof irrevocably authorizes and expressly directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XIV and appoints the Trustee his attorney-in-fact for such purpose, including, in the event of any dissolution, winding-up or liquidation or reorganization under Bankruptcy Law of any Guarantor (whether in bankruptcy, insolvency or receivership proceedings or otherwise), the timely filing of a claim for the unpaid balance of its or his Securities in the form required in such proceedings and the causing of such claim to be approved. If the Trustee does not file a claim or proof of debt 110 substantially in the form required in such proceeding at least one day before the expiration of the time to file such claims or proofs, then any of the holders of Guarantor Senior Debt have the right to file such proof of claim or debt on behalf of the Holders, and to take any action with respect to such proof of claim or debt permitted to be taken by the holders of Guarantor Senior Debt pursuant to this Indenture, the Securities or by law; provided, however, that no such action by holders of Guarantor Senior Debt shall in any way limit or affect the rights of the Holders or the Trustee hereunder or under the Guaranties or applicable law.
Subordination of Guaranties
