Common use of SUBORDINATION OF NOTES Clause in Contracts

SUBORDINATION OF NOTES. Section 11.01. Notes Subordinate to Senior Indebtedness........................................................80 Section 11.02. Payment Over of Proceeds upon Dissolution, Etc..................................................80 Section 11.03. Suspension of Payment When Senior Indebtedness in Default.......................................82 Section 11.04. Trustee's Relation to Senior Indebtedness.......................................................83 Section 11.05. Subrogation to Rights of Holders of Senior Indebtedness.........................................84 Section 11.06. Provisions Solely to Define Relative Rights.....................................................84 Section 11.07. Trustee to Effectuate Subordination.............................................................85 Section 11.08. No Waiver of Subordination Provisions...........................................................85 Section 11.09. Notice to Trustee...............................................................................86 Section 11.10. Reliance on Judicial Order or Certificate of Liquidating Agent..................................86 Section 11.11. Rights of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 Section 11.12. Article Applicable to Paying Agents.............................................................87 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS

SUBORDINATION OF NOTES. Section 11.014.01. Notes Subordinate to Subordinated To Senior Indebtedness........................................................80 .......................................................37 Section 11.024.02. No Payment On Notes In Certain Circumstances....................................................37 Section 4.03. Payment Over of Of Proceeds upon Upon Dissolution, Etc..................................................80 39 Section 11.034.04. Suspension of Payment When Senior Indebtedness in Default.......................................82 Subrogation.....................................................................................40 Section 11.044.05. Obligations Of Company Unconditional............................................................41 Section 4.06. Notice To Trustee...............................................................................41 Section 4.07. Reliance On Judicial Order Or Certificate Of Liquidating Agent..................................42 Section 4.08. Trustee's Relation to To Senior Indebtedness.......................................................83 43 Section 11.054.09. Subrogation to Subordination Rights of Not Impaired By Acts Or Omissions Of The Company Or Holders of Of Senior Indebtedness.........................................84 .............................................................43 Section 11.064.10. Provisions Solely to Define Relative Rights.....................................................84 Holders Authorize Trustee To Effectuate Subordination Of Notes..................................43 Section 11.074.11. Trustee to Effectuate Subordination.............................................................85 This Article Not To Prevent Events Of Default...................................................44 Section 11.084.12. Trustee's Compensation And Rights To Indemnification Not Prejudiced.............................44 Section 4.13. No Waiver of Of Subordination Provisions...........................................................85 44 Section 11.09. Notice to Trustee...............................................................................86 Section 11.10. Reliance on Judicial Order or Certificate of Liquidating Agent..................................86 Section 11.11. Rights of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 Section 11.12. Article Applicable to Paying Agents.............................................................87 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS4.14.

SUBORDINATION OF NOTES. Section 11.0157 SECTION 8.1. Notes Subordinate Subordinated to Senior Indebtedness........................................................80 Section 11.02Indebtedness ............ 57 SECTION 8.2. Payment Over of Proceeds upon Dissolution, Etc..................................................80 Section 11.03Upon Dissolution etc ........ 57 SECTION 8.3. Suspension of No Payment When Senior Indebtedness is in Default.......................................82 Section 11.04Default .... 59 SECTION 8.4. Trustee's Relation to Senior Indebtedness.......................................................83 Section 11.05Payment Permitted if No Default ...................... 60 SECTION 8.5. Subrogation to Rights of Holders of Senior Indebtedness.........................................84 Section 11.06Indebtedness ...................................... 60 SECTION 8.6. Provisions Solely to Define Relative Rights.....................................................84 Section 11.07. Trustee to Effectuate Subordination.............................................................85 Section 11.08Rights .......... 61 SECTION 8.7. No Waiver of Subordination Provisions...........................................................85 Section 11.09Provisions ................ 61 SECTION 8.8. Notice to Trustee...............................................................................86 Section 11.10Holders of Notes ........................... 61 SECTION 8.9. Reliance of Holders of Senior Indebtedness ........... 62 SECTION 8.10. Reliance on Judicial Order order or Certificate of Liquidating Agent..................................86 Section 11.11Agent ................................. 62 SECTION 8.11. Rights This Article Not to Prevent Events of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 Section 11.12Default ........ 62 SECTION 8.12. Article Applicable to Paying Agents.............................................................87 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 Reinstatement ........................................ 63 ARTICLE 12 MISCELLANEOUSIX SUBSTITUTION;

SUBORDINATION OF NOTES. Section 11.01. 82 SECTION 10.01 Notes Subordinate Subordinated to Senior Indebtedness........................................................80 Section 11.02. Payment Over of Proceeds upon Dissolution, Etc..................................................80 Section 11.03. Debt...........................82 SECTION 10.02 Suspension of Payment When Senior Indebtedness Debt Is in Default......................................................................................82 Section 11.04. Trustee's Relation SECTION 10.03 Notes Subordinated to Prior Payment of All Senior Indebtedness.......................................................83 Section 11.05. Subrogation Debt on Dissolution, Liquidation or Reorganization of Company.....................................................84 SECTION 10.04 Holders To Be Subrogated to Rights of Holders of Senior Indebtedness.........................................84 Section 11.06. Provisions Solely to Define Relative Rights.....................................................84 Section 11.07. Debt...................................86 SECTION 10.05 Obligations of the Company Unconditional....................87 SECTION 10.06 Trustee to Effectuate Subordination.............................................................85 Section 11.08. Entitled To Assume Payments Not Prohibited in Absence of Notice.........................88 SECTION 10.07 Application by Trustee of Assets Deposited with It...........................................88 SECTION 10.08 No Waiver of Subordination Provisions...........................................................85 Section 11.09. Notice to Trustee...............................................................................86 Section 11.10. Reliance on Judicial Order or Certificate .......................89 SECTION 10.09 Holders Authorize Trustee To Effectuate Subordination of Liquidating Agent..................................86 Section 11.11. Notes...........................89 SECTION 10.10 Rights of Trustee as a Holder of To Hold Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 Section 11.12. Article Applicable to Paying Agents.............................................................87 Section 11.13. Debt.......................90 SECTION 10.11 No Suspension of Remedies.......................................................................87 Section 11.14. Authorization ...................................90 SECTION 10.12 No Fiduciary Duty of Trustee to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 Holder of Senior Debt..............................................90 ARTICLE 12 MISCELLANEOUSELEVEN

SUBORDINATION OF NOTES. 74 Section 11.01. Notes 13.1 Securities Subordinate to Senior Indebtedness........................................................80 .......................................... 74 Section 11.02. 13.2 No Payments in Certain Circumstances; Payment Over of Proceeds upon Upon Dissolution, Etc..................................................80 ........ 74 Section 11.03. Suspension of 13.3 Prior Payment When to Senior Indebtedness in Upon Acceleration of Notes................................. 77 Section 13.4 Payment Permitted if No Default.......................................82 ....................... 77 Section 11.04. Trustee's Relation to Senior Indebtedness.......................................................83 Section 11.05. 13.5 Subrogation to Rights of to Holders of Senior Indebtedness.........................................84 .......................................... 78 Section 11.06. 13.6 Provisions Solely to Define Relative Rights.....................................................84 ................................................ 78 Section 11.07. 13.7 Trustee to Effectuate Subordination.............................................................85 ................... 79 Section 11.08. 13.8 No Waiver of Subordination Provisions...........................................................85 ................. 79 Section 11.09. 13.9 Notice to Trustee...............................................................................86 ..................................... 80 Section 11.10. 13.10 Reliance on Judicial Order or Certificate of Liquidating Agent..................................86 ..................................... 81 Section 11.11. 13.11 Trustee Not Fiduciary for Holders of Senior Indebtedness.......................................... 81 Section 13.12 Rights of Trustee as a Holder of Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 ........ 81 Section 11.12. 13.13 Article Applicable to Paying Agents.............................................................87 ................... 81 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS13.14 Certain Conversions Deemed Payment.................... 82

SUBORDINATION OF NOTES. Section 11.01. Notes 15.01 Agreement to Subordinate to Senior Indebtedness........................................................80 53 Section 11.02. Payment Over of Proceeds upon Dissolution, Etc..................................................80 Section 11.03. Suspension of Payment When 15.02 Default on Senior Indebtedness in Default.......................................82 53 Section 11.04. Trustee's Relation 15.03 Liquidation; Dissolution; Bankruptcy 54 Section 15.04 Subrogation 55 Section 15.05 Trustee to Senior Indebtedness.......................................................83 Effectuate Subordination 56 Section 11.05. Subrogation to 15.06 Notice by the Corporation 56 Section 15.07 Rights of the Trustee; Holders of Senior Indebtedness.........................................84 Indebtedness 57 Section 11.06. Provisions Solely to Define Relative Rights.....................................................84 Section 11.07. Trustee to Effectuate Subordination.............................................................85 Section 11.08. No Waiver 15.08 Subordination May Not Be Impaired 57 EXHIBITS Exhibit A Form of Subordination Provisions...........................................................85 Section 11.09. Notice to Trustee...............................................................................86 Section 11.10. Reliance on Judicial Order or Note A-1 Exhibit B Form of Certificate of Liquidating Agent..................................86 Officer of the Corporation B-1 Cross Reference Table Showing Reflection of Certain Provisions Required Pursuant to Section 11.11. Rights 310 through 318(a) of Trustee Trust Indenture Act of 1939, as a Holder Amended, (Including Cross-References to Provisions of Senior Indebtedness; Preservation Sections 310 through 318(a) which, Pursuant to Section 318(c) of Trustee's Rights.............................................................87 the Trust Indenture Act of 1939, as Amended, are Part of and Govern Such Provisions of the Indenture Whether or not Physically Contained Therein1 TIA Section 11.12. Article SECTION 310 (a)(1) ........................................ 6.09 (a)(2) ........................................ 6.09 (a)(3) ........................................ Not Applicable to Paying Agents.............................................................87 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS(a)(4) ........................................ Not Applicable (a)(5) ........................................ 6.09 (b) ........................................... 6.08, 6.10(a), (b) and (d) (c) ........................................... Not Applicable SECTION 311 (a) ........................................... 6.13 (b) ........................................... 6.13 (c) ........................................... Not Applicable SECTION 312 (a) ........................................... 4.01 4.02 (b) ........................................... 4.02 (c) ........................................... 4.02 SECTION 313 (a) ........................................... 4.04 4.04 (c) ........................................... 4.04 5.11

SUBORDINATION OF NOTES. 47 Section 11.01. Applicability of Article; Agreement to Subordinate Notes Subordinate to Senior Indebtedness........................................................80 ...............47 Section 11.02. No Payment Over of Proceeds upon Dissolution, Etc..................................................80 on Subordinated Notes in Certain Circumstances..................................47 Section 11.03. Suspension Subordinated Notes Subordinated to Prior Payment of Payment When All Senior Indebtedness in Default.......................................82 on Dissolution, Liquidation or Reorganization of the Company...........49 Section 11.04. Trustee's Relation Holders of Subordinated Notes to Senior Indebtedness.......................................................83 Section 11.05. Subrogation be Subrogated to Rights of Holders of Senior Indebtedness.........................................84 ............50 Section 11.05. Obligations of the Company Unconditional...............50 Section 11.06. Provisions Solely Entitled to Define Relative Rights.....................................................84 Assume Payments Not Prohibited in Absence of Notice......................................51 Section 11.07. Application by Trustee of Assets Deposited With It.....51 Section 11.08. Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness...........................................51 Section 11.09. Holders Authorize Trustee to Effectuate Subordination.............................................................85 Section 11.08. No Waiver Subordination of Subordination Provisions...........................................................85 Section 11.09. Notice to Trustee...............................................................................86 Subordinated Notes....................52 Section 11.10. Reliance on Judicial Order or Certificate Right of Liquidating Agent..................................86 Trustee to Hold Senior Indebtedness...........52 Section 11.11. Rights Article Eleven Not to Prevent Events of Default........52 Section 11.12. Payment................................................52 Section 11.13. Trustee as a Holder Not Fiduciary for Holders of Senior Indebtedness; Preservation of Trustee's Rights.............................................................87 Section 11.12. Article Applicable to Paying Agents.............................................................87 Section 11.13. No Suspension of Remedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS...........................................53 TABLE OF CONTENTS