Common use of Subordination of the Securities and Other Subordinated Obligations Clause in Contracts

Subordination of the Securities and Other Subordinated Obligations. (a) (i) The Issuer, each Holder (by its acceptance of its Note) and each other Secured Party (by its acceptance of the benefits of the Security Trust Agreement) agree that the Securities and the other Obligations shall be subject to the provisions of this Article X and, in the case of the Secured Obligations, to the provisions of Article VII of the Security Trust Agreement and (ii) each Junior Claimant (and each Junior Representative of any thereof) agrees for the benefit of each Senior Claimant (and the Controlling Party and the Trustee acting therefor) that each Junior Claim shall be subordinated fully in right of payment to each Senior Claim as provided in Section 3.09, Section 3.10 (if applicable), this Article X and Article VII of the Security Trust Agreement.

Subordination of the Securities and Other Subordinated Obligations. (a) (i) The Issuer, each Holder (by its acceptance of its NoteSecurity) and each other Secured Party (by its acceptance of the benefits of the Security Trust Agreement) agree that (i) the Securities and the other Obligations shall be subject to the provisions of this Article X and, in the case of the Secured Obligations, to the provisions of Article VII of the Security Trust Agreement and (ii) each Junior Subordinated Claimant (and each Junior Subordinated Representative of any thereof) agrees agree for the benefit of each Senior Claimant (and the Controlling Party and the Trustee acting therefor) that each Junior Subordinated Claim shall be subordinated fully in right of payment to each Senior Claim as provided in Section 3.093.08 hereof, Section 3.10 3.09 hereof (if applicable), this Article X and Article VII of the Security Trust Agreement.