Common use of Subordination Rights Clause in Contracts

Subordination Rights. Not Impaired by Acts or Omissions of the Company or Holders of Senior Debt. No right of any present or future holders of any Senior Debt to enforce subordination provisions contained in this Article X shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Debt may extend, renew, modify or amend the terms of the Senior Debt or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities of any series.

Appears in 2 contracts

Samples: Conoco Inc /De, Pioneer Companies Inc

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Subordination Rights. Not Impaired by Acts or Omissions of the Company or Holders of Senior DebtIndebtedness. No right of any present or future holders of any Senior Debt Indebtedness to enforce subordination provisions contained in this Article X 10 shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. The holders of Senior Debt Indebtedness may extend, renew, modify or amend the terms of the Senior Debt Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Company, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities of any seriesNotes.

Appears in 1 contract

Samples: Indenture (Krug International Corp)

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Subordination Rights. Not Impaired by Acts or Omissions of the Company Issuer or Holders holders of Senior DebtIndebtedness. No right of any present or future holders of any Senior Debt Indebtedness to enforce subordination provisions contained in this Article X shall as provided herein will at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company Issuer or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company Issuer with the terms of this IndentureNote, regardless of any knowledge thereof that which any such holder may have or otherwise be otherwise charged with. The holders of Senior Debt Indebtedness may extend, renew, amend, amend and restate, supplement or otherwise modify or amend the terms of the Senior Debt Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the CompanyIssuer, all without affecting the liabilities and obligations of the parties to this Indenture or the Holders of the Securities of any seriesHolder.

Appears in 1 contract

Samples: Bausch & Lomb Inc

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