Common use of Subrogation to Rights of Holders of Senior Debt Clause in Contracts

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Debentures are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, premium, if any, and interest on the Debentures shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures or the Trustee shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Debentures, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Notes shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article 18 (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Debentures Notes are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until to the extent that the principal of, of (and premium, if any, ) and interest on are payable under this Indenture and the Debentures shall be paid in fullNotes. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Notes or the Trustee would be entitled except for the provisions of this ArticleArticle 18, and no payments over pursuant to the provisions of this Article 18 to the holders of Senior Debt by Holders of the Debentures Notes or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesNotes, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of indebtedness Indebtedness of the Company which by its express terms is subordinated to indebtedness other Indebtedness of the Company to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article Fifteen (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt Debt, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders holders of the Debentures Notes shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article Section 3 (equally and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to indebtedness Senior Debt of the Company to substantially the same extent as the Debentures Notes are subordinated to the Senior Debt and is are entitled to like rights of subrogationsubrogation by reason of any payments or distributions made to holders of such Senior Debt) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, premium, if any, of and interest on the Debentures Notes shall be paid in full. For purposes of such subrogationsubrogation or assignment, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders holders of the Debentures or the Trustee Notes would be entitled except for the provisions of this ArticleSection 3, and no payments over pursuant to the provisions of this Article Section 3 to the holders of Senior Debt by Holders the holders of the Debentures or the Trustee Notes, shall, as among the Company, its creditors other than holders of Senior Debt Debt, and the Holders holders of the DebenturesNotes, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article Seventeen (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this ArticleArticle Seventeen, and no payments over pursuant to the provisions of this Article Seventeen to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to the indebtedness of the Company to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of indebtedness of the Company Issuers which by its express terms is subordinated to indebtedness Indebtedness of the Company Issuers to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the 57 Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the CompanyIssuers, its their creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company Issuers to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with the holders of indebtedness of the Company Issuers which by its express terms is subordinated to indebtedness of the Company Issuers to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the CompanyIssuers, its their creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company Issuers to or on account of the Senior Debt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, the Holders of the Debentures Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article Sixteen (equally and ratably with the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Debentures Securities are subordinated to the Senior Debt and is entitled to like rights of subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of, of (and premium, if any, ) and interest on the Debentures Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Debentures Securities or the Trustee would be entitled except for the provisions of this ArticleArticle Sixteen, and no payments over pursuant to the provisions of this Article Sixteen to the holders of Senior Debt by Holders of the Debentures Securities or the Trustee Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the DebenturesSecurities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt.