Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article Four of the Original Indenture by the Trustee for the payment of principal of, premium, if any, and interest on the Securities shall not be subordinated to the prior payment of any Senior Debt (provided that, at the time deposited, such deposit did not violate any then outstanding Senior Debt), and none of the Holders shall be obligated to pay over any such amount to any holder of Senior Debt.
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Samples: Third Supplemental Indenture (Globalstar, Inc.), Supplemental Indenture (Globalstar, Inc.), Supplemental Indenture (Globalstar, Inc.)
Trust Monies Not Subordinated. Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under Article Four of the Original Indenture by the Trustee for the payment of principal of, premium, if any, and interest on the Securities shall not be subordinated to the prior payment of any Senior Debt (provided that, if such payment was made by a Subsidiary Guarantor under this Guaranty, then at the time deposited, such deposit did not violate any then outstanding Senior Debtconstituted a Permitted Payment), and none of the Holders shall be obligated to pay over any such amount to any holder of Senior Debt.
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