Subrogation of Securities Sample Clauses

Subrogation of Securities. Subject to the payment in full of all Senior Indebtedness of the Company, the rights of the holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness of the Company to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness of the Company until the principal of (and premium, if any) and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the holders of the Securities or the Trustee would be entitled except for the provisions of this Article XII no payment over pursuant to the provisions of this Article XII, to or for the benefit of the holders of Senior Indebtedness of the Company by holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness of the Company. It is understood that the provisions of this Article XII are and are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the holders of the Senior Indebtedness of the Company, on the other hand. Nothing contained in this Article XII or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of its Senior Indebtedness, and the holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Securities and creditors of the Company other than the holders of its Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XII of the holders of Senior Indebtedness of the Company in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment ...
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Subrogation of Securities. 52 Section 10.04. Authorization by Holders.......................................................... 53 Section 10.05.
Subrogation of Securities. 48 Section 12.4 Authorization to Effect Subordination .................................. 49 Section 12.5
Subrogation of Securities. After all Senior Indebtedness is paid in full and until the Securities are paid in full, Holders of Securities shall be subrogated to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness. A distribution made under this Article Twelve to Holders of Senior Indebtedness which otherwise would have been made to Holders of Securities is not, as between the Issuer and Holders of Securities, a payment by the Issuer on Senior Indebtedness. Nothing contained in this Article Twelve or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Issuer, its creditors other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Issuer, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Issuer other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article Twelve of the holders of Senior Indebtedness in respect of cash, property or securities of the Issuer received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Issuer referred to in this Article Twelve, the Trustee, subject to the provisions of Section 5.1, and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such bankruptcy, dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Issuer, the amount thereof or payable thereon and all other facts pertinent thereto or to this Article Twelve.
Subrogation of Securities. 49 SECTION 5.4. AUTHORIZATION TO EFFECT SUBORDINATION............................. 50 SECTION 5.5.
Subrogation of Securities. 67 SECTION 11.4
Subrogation of Securities. 33 SECTION 10.04 Authorization by Holders of Securities................... 34 SECTION 10.05 Notices to Trustee....................................... 34 SECTION 10.06 Trustee's Relation to Senior Indebtedness................ 35 SECTION 10.07 No Impairment of Subordination........................... 36 SECTION 10.08 Article 10 Not To Prevent Events of Default.............. 36 SECTION 10.09 Paying Agents other than the Trustee..................... 36 SECTION 10.10 Securities Senior to Subordinated Indebtedness........... 36
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Subrogation of Securities. 85 SECTION 15.4
Subrogation of Securities. 79 SECTION 13.04. Authorization to Effect Subordination...................... 79 SECTION 13.05. Notice to Trustee.......................................... 80 SECTION 13.06. Trustee's Relation to Senior Indebtedness.................. 80 SECTION 13.07. No Impairment of Subordination............................. 81 SECTION 13.08. Article Applicable to Paying Agents........................ 81 SECTION 13.09. Senior Indebtedness Entitled to Rely....................... 81 SECTION 13.10. Certain Conversions Deemed Payment......................... 81
Subrogation of Securities. 50 SECTION 11.04. Authorization by Securityholders..........................51 SECTION 11.05.
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