Common use of SUBORDINATION OF NOTES Clause in Contracts

SUBORDINATION OF NOTES. 47 Section 11.01. Applicability of Article; Agreement to Subordinate Notes to Senior Indebtedness...............47 Section 11.02. No Payment on Subordinated Notes in Certain Circumstances..................................47 Section 11.03. Subordinated Notes Subordinated to Prior Payment of All Senior Indebtedness on Dissolution, Liquidation or Reorganization of the Company...........49 Section 11.04. Holders of Subordinated Notes to be Subrogated to Rights of Holders of Senior Indebtedness............50 Section 11.05. Obligations of the Company Unconditional...............50 Section 11.06. Entitled to 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 of Subordinated Notes....................52 Section 11.10. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. Article Eleven Not to Prevent Events of Default........52 Section 11.12. Payment................................................52 Section 11.13. Trustee Not Fiduciary for Holders of Senior Indebtedness...........................................53 TABLE OF CONTENTS

SUBORDINATION OF NOTES. 47 Section 11.0157 SECTION 8.1. Applicability of Article; Agreement to Subordinate Notes Subordinated to Senior Indebtedness...............47 Section 11.02Indebtedness ............ 57 SECTION 8.2. Payment Over of Proceeds Upon Dissolution etc ........ 57 SECTION 8.3. No Payment on Subordinated Notes in Certain Circumstances..................................47 Section 11.03. Subordinated Notes Subordinated to Prior Payment of All When Senior Indebtedness on Dissolution, Liquidation or Reorganization of the Company...........49 Section 11.04is in Default .... 59 SECTION 8.4. Holders of Subordinated Notes to be Subrogated Payment Permitted if No Default ...................... 60 SECTION 8.5. Subrogation to Rights of Holders of Senior Indebtedness............50 Section 11.05Indebtedness ...................................... 60 SECTION 8.6. Obligations Provisions Solely to Define Relative Rights .......... 61 SECTION 8.7. No Waiver of the Company Unconditional...............50 Section 11.06Subordination Provisions ................ 61 SECTION 8.8. Entitled Notice to Assume Payments Not Prohibited in Absence Holders of Notice......................................51 Section 11.07Notes ........................... 61 SECTION 8.9. Application by Trustee Reliance 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 11.09Indebtedness ........... 62 SECTION 8.10. Holders Authorize Trustee to Effectuate Subordination Reliance on Judicial order or Certificate of Subordinated Notes....................52 Section 11.10Liquidating Agent ................................. 62 SECTION 8.11. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. This Article Eleven Not to Prevent Events of Default........52 Section 11.12Default ........ 62 SECTION 8.12. Payment................................................52 Section 11.13. Trustee Not Fiduciary for Holders of Senior Indebtedness...........................................53 TABLE OF CONTENTSReinstatement ........................................ 63 ARTICLE IX SUBSTITUTION;

SUBORDINATION OF NOTES. 47 Section 11.01. Applicability of Article; 15.01 Agreement to Subordinate Notes to Senior Indebtedness...............47 53 Section 11.02. No Payment 15.02 Default on Subordinated Notes in Certain Circumstances..................................47 Section 11.03. Subordinated Notes Subordinated to Prior Payment of All Senior Indebtedness on 53 Section 15.03 Liquidation; Dissolution, Liquidation or Reorganization of the Company...........49 ; Bankruptcy 54 Section 11.04. Holders of Subordinated Notes to be Subrogated to Rights of Holders of Senior Indebtedness............50 15.04 Subrogation 55 Section 11.05. Obligations of the Company Unconditional...............50 Section 11.06. Entitled to 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 15.05 Trustee to Effectuate Subordination 56 Section 15.06 Notice by the Corporation 56 Section 15.07 Rights of Subordinated Notes....................52 Section 11.10. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. Article Eleven Not to Prevent Events of Default........52 Section 11.12. Payment................................................52 Section 11.13. Trustee Not Fiduciary for the Trustee; Holders of Senior Indebtedness...........................................53 TABLE OF CONTENTSIndebtedness 57 Section 15.08 Subordination May Not Be Impaired 57 EXHIBITS Exhibit A Form of Note A-1 Exhibit B Form of Certificate of Officer of the Corporation B-1 Cross Reference Table Showing Reflection of Certain Provisions Required Pursuant to Section 310 through 318(a) of Trust Indenture Act of 1939, as Amended, (Including Cross-References to Provisions of Sections 310 through 318(a) which, Pursuant to Section 318(c) of 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 SECTION 310 (a)(1) ........................................ 6.09 (a)(2) ........................................ 6.09 (a)(3) ........................................ Not Applicable (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 Notes Subordinate Notes to Senior Indebtedness...............47 ........................................................80 Section 11.02. No Payment on Subordinated Notes in Certain Circumstances..................................47 Over of Proceeds upon Dissolution, Etc..................................................80 Section 11.03. Subordinated Notes Subordinated to Prior Suspension of Payment of All When Senior Indebtedness on Dissolution, Liquidation or Reorganization of the Company...........49 in Default.......................................82 Section 11.04. Holders of Subordinated Notes Trustee's Relation to be Subrogated Senior Indebtedness.......................................................83 Section 11.05. Subrogation to Rights of Holders of Senior Indebtedness............50 Section 11.05. Obligations of the Company Unconditional...............50 .........................................84 Section 11.06. Entitled Provisions Solely to Assume Payments Not Prohibited in Absence of Notice......................................51 Define Relative Rights.....................................................84 Section 11.07. Application by Trustee of Assets Deposited With It.....51 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 Not Impaired by Acts or Omissions of the Company or Holders Trustee as a Holder of Senior Indebtedness...........................................51 Section 11.09. Holders Authorize Trustee to Effectuate Subordination ; Preservation of Subordinated Notes....................52 Section 11.10. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. Article Eleven Not to Prevent Events of Default........52 Trustee's Rights.............................................................87 Section 11.12. Payment................................................52 Article Applicable to Paying Agents.............................................................87 Section 11.13. Trustee Not Fiduciary for Holders No Suspension of Senior Indebtedness...........................................53 TABLE OF CONTENTSRemedies.......................................................................87 Section 11.14. Authorization to Effect Subordination...........................................................87 Section 11.15. Amendments......................................................................................87 ARTICLE 12 MISCELLANEOUS

SUBORDINATION OF NOTES. 47 Section 11.014.01. Applicability of Article; Agreement to Subordinate Notes to Subordinated To Senior Indebtedness...............47 .......................................................37 Section 11.024.02. No Payment on Subordinated On Notes in In Certain Circumstances..................................47 ....................................................37 Section 11.034.03. Subordinated Notes Subordinated to Prior Payment of All Senior Indebtedness on Over Of Proceeds Upon Dissolution, Liquidation or Reorganization of the Company...........49 Etc..................................................39 Section 11.044.04. Holders of Subordinated Notes to be Subrogated to Rights of Holders of Subrogation.....................................................................................40 Section 4.05. 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 Senior Indebtedness............50 .......................................................43 Section 11.05. Obligations of the Company Unconditional...............50 Section 11.06. Entitled to Assume Payments Not Prohibited in Absence of Notice......................................51 Section 11.07. Application by Trustee of Assets Deposited With It.....51 Section 11.084.09. Subordination Rights Not Impaired by By Acts or Or Omissions of the Of The Company or Or Holders of Of Senior Indebtedness...........................................51 .............................................................43 Section 11.094.10. Holders Authorize Trustee to To Effectuate Subordination of Subordinated Of Notes....................52 ..................................43 Section 11.104.11. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. This Article Eleven Not to To Prevent Events of Of Default........52 ...................................................44 Section 11.124.12. Payment................................................52 Trustee's Compensation And Rights To Indemnification Not Prejudiced.............................44 Section 11.134.13. Trustee Not Fiduciary for Holders of Senior Indebtedness...........................................53 TABLE OF CONTENTSNo Waiver Of Subordination Provisions...........................................................44 Section 4.14.

SUBORDINATION OF NOTES. 47 74 Section 11.01. Applicability of Article; Agreement to 13.1 Securities Subordinate Notes to Senior Indebtedness...............47 .......................................... 74 Section 11.02. 13.2 No Payment on Subordinated Notes Payments in Certain Circumstances..................................47 ; Payment Over of Proceeds Upon Dissolution, Etc........ 74 Section 11.03. Subordinated Notes Subordinated to 13.3 Prior Payment of All to Senior Indebtedness on Dissolution, Liquidation or Reorganization Upon Acceleration of the Company...........49 Notes................................. 77 Section 11.04. Holders of Subordinated Notes to be Subrogated 13.4 Payment Permitted if No Default....................... 77 Section 13.5 Subrogation to Rights of to Holders of Senior Indebtedness............50 .......................................... 78 Section 11.05. Obligations of the Company Unconditional...............50 13.6 Provisions Solely to Define Relative Rights................................................ 78 Section 11.06. Entitled to 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 13.7 Trustee to Effectuate Subordination................... 79 Section 13.8 No Waiver of Subordination Provisions................. 79 Section 13.9 Notice to Trustee..................................... 80 Section 13.10 Reliance on Judicial Order or Certificate of Subordinated Notes....................52 Liquidating Agent..................................... 81 Section 11.10. Right of Trustee to Hold Senior Indebtedness...........52 Section 11.11. Article Eleven Not to Prevent Events of Default........52 Section 11.12. Payment................................................52 Section 11.13. 13.11 Trustee Not Fiduciary for Holders of Senior Indebtedness...........................................53 TABLE OF CONTENTS.......................................... 81 Section 13.12 Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee's Rights........ 81 Section 13.13 Article Applicable to Paying Agents................... 81 Section 13.14 Certain Conversions Deemed Payment.................... 82

SUBORDINATION OF NOTES. 47 Section 11.01. Applicability of Article; Agreement to Subordinate 82 SECTION 10.01 Notes Subordinated to Senior Indebtedness...............47 Section 11.02. No Debt...........................82 SECTION 10.02 Suspension of Payment on Subordinated Notes When Senior Debt Is in Certain Circumstances..................................47 Section 11.03. Subordinated Default...............................................82 SECTION 10.03 Notes Subordinated to Prior Payment of All Senior Indebtedness Debt on Dissolution, Liquidation or Reorganization of the Company...........49 Section 11.04. .....................................................84 SECTION 10.04 Holders of Subordinated Notes to be To Be Subrogated to Rights of Holders of Senior Indebtedness............50 Section 11.05. Debt...................................86 SECTION 10.05 Obligations of the Company Unconditional...............50 Section 11.06. ....................87 SECTION 10.06 Trustee Entitled to To Assume Payments Not Prohibited in Absence of Notice......................................51 Section 11.07. .........................88 SECTION 10.07 Application by Trustee of Assets Deposited With with It.....51 Section 11.08. ...........................................88 SECTION 10.08 No Waiver of Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness...........................................51 Section 11.09. Provisions.......................89 SECTION 10.09 Holders Authorize Trustee to To Effectuate Subordination of Subordinated Notes....................52 Section 11.10. Right ...........................89 SECTION 10.10 Rights of Trustee To Hold Senior Debt.......................90 SECTION 10.11 No Suspension of Remedies...................................90 SECTION 10.12 No Fiduciary Duty of Trustee to Hold Senior Indebtedness...........52 Section 11.11. Article Eleven Not to Prevent Events of Default........52 Section 11.12. Payment................................................52 Section 11.13. Trustee Not Fiduciary for Holders Holder of Senior Indebtedness...........................................53 TABLE OF CONTENTSDebt..............................................90 ARTICLE ELEVEN