Examples of Subordinated Guarantees in a sentence
The Securities and Senior Subordinated Guarantees are subordinated to Senior Indebtedness, as defined in the Indenture.
The Exchange Dollar Senior Subordinated Securities and the Dollar Senior Subordinated Guarantees will be issued under an indenture (the "Dollar Senior Subordinated Notes Indenture") dated as of February 18, 2003, between the Company and the Trustee, as supplemented by the supplemental indenture dated as of February 28, 2003, among the Company, the Guarantors and the Trustee.
Accordingly, in the events specified in the Senior Subordinated Guarantees, the liabilities of the Guarantor under or pursuant to the Senior Subordinated Guarantees shall not be required to be satisfied until satisfaction of all indebtedness of the Guarantor to the depositors and Senior Creditors or the amount necessary for that purpose shall have been deposited in consignment.
To the extent provided in the Indenture, Senior Indebtedness must be paid before the Securities and Senior Subordinated Guarantees may be paid.
Accordingly, each of the Guarantors has duly authorized the execution and delivery of this Indenture to provide for its Senior Subordinated Guarantees with respect to the Securities as set forth in this Indenture.