Common use of Trust Monies Not Subordinated Clause in Contracts

Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when permitted by the subordination provisions of this Article 10 for the payment of principal of and interest on the Senior Subordinated Notes shall not be subordinated to the prior payment of any Senior Debt of the Issuers or subject to the restrictions set forth in this Article 10, and none of the holders shall be obligated to pay over any such amount to the Issuers or any holder of Senior Debt of the Issuers or any other creditor of the Issuers.

Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when the applicable conditions specified in Sections 8.01 and 8.03 are satisfied and when permitted by the subordination provisions of this Article 10 for the payment of principal of and interest on the Senior Subordinated Notes shall not be subordinated to the prior payment of any Senior Debt of the Issuers or subject to the restrictions set forth in this Article 10, and none of the holders Holders shall be obligated to pay over any such amount to the Issuers or any holder of Senior Debt of the Issuers or any other creditor of the Issuers.

Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of Government Obligations held in trust under Article 8 by the Trustee and deposited at a time when the applicable conditions specified in Section 8.03 are satisfied and when permitted by the subordination provisions of this Article 10 for the payment of principal of and interest on the Senior Subordinated Notes shall not be subordinated to the prior payment of any Senior Debt of the Issuers or subject to the restrictions set forth in this Article 10, and none of the holders Holders shall be obligated to pay over any such amount to the Issuers or any holder of Senior Debt of the Issuers or any other creditor of the Issuers.