Examples of Permitted Junior Securities in a sentence
All such provisions shall also be deemed to apply in the same way (mutatis mutandis) to each Guarantor, if any, and its Note Guaranty, with appropriate corresponding references to the Senior Debt of, and Permitted Junior Securities with respect to, such Guarantor.
Notwithstanding anything in this Article Ten to the contrary, payments and distributions (a) of Permitted Junior Securities and (b) made relating to the Notes from the trust established pursuant to Article Eight shall not be so subordinated in right of payment, so long as, with respect to (b), (1) the conditions specified in Article Eight are satisfied on the date of any deposit pursuant to said trust and (2) such payments and distributions did not violate the provisions of this Article Ten when made.
If a Payment Event of Default shall have occurred and be continuing, no Securities Payment (other than in Permitted Junior Securities) shall be made.
The Proposed Amendments would (i) modify the definitions of "Board of Directors", "Guarantors", "Permitted Investments", "Permitted Junior Securities", "Permitted Liens", "Permitted Refinancing Indebtedness", "Senior Debt" and "Unrestricted Subsidiary" contained in the Indenture, (ii) add the definitions of "Kitchen Craft Subsidiary" and "Guarantor Subsidiary" to the Indenture, and (iii) modify Sections 4.07, 4.08, 4.09, 4.10, 4.17, 10.01, 10.02 and 10.10 of the Indenture.
If any Designated Senior Indebtedness of the Company is outstanding, the Company may not pay the Notes (other than Permitted Junior Securities) until five Business Days after such holders or the Representative of such Designated Senior Indebtedness receive notice of such acceleration and, thereafter, may pay the Notes only if this Article 16 otherwise permits payment at that time.