Common use of Subordination of the Notes Clause in Contracts

Subordination of the Notes. 27 17.1. Note Subordinate to Senior Debt ................................................................... 27 17.2. No Payment When Senior Debt in Default; Payment Over of Proceeds Upon Dissolution, Etc. ................................................................... 28 17.3. Payment Permitted If No Default................................................................... 29 17.4. Subrogation to Rights of Holders of Senior Debt ......................................... 29 17.5. Provisions Solely to Define Relative Rights ................................................. 30 17.6. No Waiver of Subordination Provisions ........................................................ 30 17.7.

Subordination of the Notes. 27 25 17.1. Note Subordinate to Senior Debt ................................................................... 27 25 17.2. No Payment When Senior Debt in Default; Payment Over of Proceeds Upon Dissolution, Etc. ................................................................... 28 25 17.3. Payment Permitted If No Default................................................................... 29 27 17.4. Subrogation to Rights of Holders of Senior Debt ......................................... 29 27 17.5. Provisions Solely to Define Relative Rights ................................................. 30 27 17.6. No Waiver of Subordination Provisions ........................................................ 30 28 17.7.