Common use of Subrogation of Notes Clause in Contracts

Subrogation of Notes. 25 Section 4.4. Authorization to Effect Subordination.................................................. 26 Section 4.5. Notice to Trustee...................................................................... 26 Section 4.6. Trustee's Relation to Senior Indebtedness.............................................. 27 Section 4.7. No Impairment of Subordination......................................................... 27 Section 4.8. Certain Conversions Not Deemed Payment................................................. 27 Section 4.9. Article Applicable to Paying Agents.................................................... 28 Section 4.10. Senior Indebtedness Entitled to Rely................................................... 28 Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28

Subrogation of Notes. 25 30 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 ..................................................................31 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 ......................................................................................32 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 ..............................................................33 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 .........................................................................33 Section 4.8. 4.8 Certain Conversions Not Deemed Payment................................................. 27 .....................................................................33 Section 4.9. 4.9 Article Applicable to Paying Agents.................................................... 28 ....................................................................33 Section 4.10. 4.10 Senior Indebtedness Entitled to Rely................................................... 28 ..................................................................34 Section 4.11. 4.11 Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28........................................34

Subrogation of Notes. 25 43 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 ............................45 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 ................................................45 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 ........................46 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 ...................................47 Section 4.8. 4.8 Certain Conversions Not Deemed Payment................................................. 27 ...........................47 Section 4.9. 4.9 Article Applicable to Paying Agents.................................................... 28 ..............................48 Section 4.10. 4.10 Senior Indebtedness Entitled to Rely................................................... 28 ............................48 Section 4.11. 4.11 Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28............................48 ARTICLE FIVE - PARTICULAR COVENANTS OF THE COMPANY

Subrogation of Notes. 25 21 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 ....................................22 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 ........................................................22 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 Indebtedness of the Company.................23 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 ...........................................24 Section 4.8. Certain Conversions Not Deemed Payment................................................. 27 Section 4.9. 4.8 Article Applicable to Paying Agents.................................................... 28 ......................................24 Section 4.10. 4.9 Senior Indebtedness of the Company Entitled to Rely................................................... 28 ......................24 -i- 3 TABLE OF CONTENTS (CONTINUED) PAGE ---- Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 284.10 Certain Conversions Deemed Payment.......................................24

Subrogation of Notes. 25 36 Section 4.44.04. Authorization to Effect Subordination.................................................. 26 ............................................................37 Section 4.54.05. Notice to Trustee...................................................................... 26 ................................................................................37 Section 4.64.06. Trustee's Relation to Senior Indebtedness.............................................. 27 ........................................................38 Section 4.74.07. No Impairment of Subordination......................................................... 27 ...................................................................39 Section 4.84.08. Certain Conversions Not Deemed Payment................................................. 27 ...........................................................39 Section 4.94.09. Article Applicable to Paying Agents.................................................... 28 ..............................................................39 Section 4.10. Senior Indebtedness Entitled to Rely................................................... 28 .............................................................39 Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28...................................40

Subrogation of Notes. 25 27 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 ....................................28 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 ........................................................28 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 Obligations.................................29 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 ...........................................29 Section 4.8. 4.8 Certain Conversions Not Deemed Payment................................................. 27 ...................................29 Section 4.9. 4.9 Article Applicable to Paying Agents.................................................... 28 ......................................30 Section 4.10. 4.10 Senior Indebtedness Obligations Entitled to Rely................................................... 28 ......................................30 Section 4.11. 4.11 Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28...........30

Subrogation of Notes. 25 32 Section 4.44.04. Authorization to Effect Subordination.................................................. 26 Subordination .......................... 33 Section 4.54.05. Notice to Trustee...................................................................... 26 Trustee .............................................. 34 Section 4.64.06. Trustee's Relation to Senior Indebtedness.............................................. 27 Debt .............................. 34 Section 4.74.07. No Impairment of Subordination......................................................... 27 Subordination ................................. 35 Section 4.84.08. Certain Conversions Not Deemed Payment................................................. 27 Payment ......................... 35 Section 4.94.09. Article Applicable to Paying Agents.................................................... 28 Agents ............................ 36 Section 4.10. Senior Indebtedness Debt Entitled to Rely................................................... 28 Rely ................................... 36 Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28.. 36

Subrogation of Notes. 25 35 Section 4.44.04. Authorization to Effect Subordination.................................................. 26 ..........................36 Section 4.54.05. Notice to Trustee...................................................................... 26 ..............................................36 Section 4.64.06. Trustee's Relation to Senior Indebtedness.............................................. 27 ......................37 Section 4.74.07. No Impairment of Subordination......................................................... 27 .................................37 Section 4.84.08. Certain Conversions Not Deemed Payment................................................. 27 .........................38 Section 4.94.09. Article Applicable to Paying Agents.................................................... 28 ............................38 Section 4.10. Senior Indebtedness Entitled to Rely................................................... 28 ...........................39 Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28Agent.39

Subrogation of Notes. 25 Section 4.482 SECTION 12.4. Authorization to Effect Subordination.................................................. 26 Section 4.5.........................83 SECTION 12.5. Notice to Trustee...................................................................... 26 Section 4.6.............................................83 SECTION 12.6. Trustee's Relation to Senior Indebtedness.............................................. 27 Section 4.7.....................84 SECTION 12.7. No Impairment of Subordination......................................................... 27 Section 4.8................................84 SECTION 12.8. Certain Conversions Not Deemed Payment................................................. 27 Section 4.9........................84 SECTION 12.9. Article Applicable to Paying Agents.................................................... 28 Section 4.10...........................84 SECTION 12.10. Senior Indebtedness Entitled to Rely................................................... 28 Section 4.11. Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28..........................85

Subrogation of Notes. 25 47 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 .....................................................48 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 .........................................................................49 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 .................................................50 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 ............................................................51 Section 4.8. 4.8 Certain Conversions Not Deemed Payment................................................. 27 ....................................................51 Section 4.9. 4.9 Article Applicable to Paying Agents.................................................... 28 .......................................................52 Section 4.10. 4.10 Senior Indebtedness Entitled to Rely................................................... 28 .....................................................52 Section 4.11. 4.11 Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28...........................52

Subrogation of Notes. 25 17 Section 4.4. 4.4 Authorization to Effect Subordination.................................................. 26 ..........................................................18 Section 4.5. 4.5 Notice to Trustee...................................................................... 26 ..............................................................................18 Section 4.6. 4.6 Trustee's Relation to Senior Indebtedness.............................................. 27 ......................................................19 Section 4.7. 4.7 No Impairment of Subordination......................................................... 27 .................................................................19 Section 4.8. 4.8 Certain Conversions Not Deemed Payment................................................. 27 .........................................................19 Section 4.9. 4.9 Article Applicable to Paying Agents.................................................... 28 ............................................................19 Section 4.10. 4.10 Senior Indebtedness Entitled to Rely................................................... 28 ...........................................................19 Section 4.11. 4.11 Reliance on Judicial Order or Certificate of Liquidating Agent......................... 28.................................19 ARTICLE V