SUBORDINATION OF SUBSIDIARY GUARANTEES. The Guarantee of each Guarantor shall be subordinated to the prior payment in full of all Senior Debt of that Guarantor (in the same manner and to the same extent that the Notes are subordinated to Senior Debt), which shall include all guarantees of Senior Debt
SUBORDINATION OF SUBSIDIARY GUARANTEES. SECTION 1401.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The Obligations of each Guarantor under its Subsidiary Guarantee pursuant to this Article 11 shall be junior and subordinated to the Senior Debt of such Guarantor on the same basis as the Notes are junior and subordinated to Senior Debt of the Company as set forth in Article 10 hereof. Each Subsidiary Guarantee is made subject to the provisions of Article 10 hereof. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10 hereof.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Guarantor under its Guarantee are subordinated in right of payment to the obligations of such Guarantor under its Senior Indebtedness in the same manner and to the same extent that the Loans are subordinated to Senior Indebtedness of the Borrower pursuant to this Section 14.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 10 is subordinated in right of payment to the prior payment in full in cash of all Senior Indebtedness of such Subsidiary Guarantor on the same basis as the Notes are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Subsidiary Guarantors only at such times as they may receive and/or retain payments in respect of Notes pursuant to this Indenture, including Article 11 hereof. In the event that the Trustee receives any Subsidiary Guarantor payment at a time when the Trustee has actual knowledge that such payment is prohibited by the foregoing sentence, such Subsidiary Guarantor payment shall be paid over and delivered to the holders of the Senior Indebtedness of such Subsidiary Guarantor remaining unpaid, to the extent necessary to pay in full all such Senior Indebtedness. In the event that a Holder receives any Subsidiary Guarantor payment at a time when such payment is prohibited by the foregoing sentence, such Subsidiary Guarantor payment shall be paid over and delivered to the holders of the Senior Indebtedness of such Subsidiary Guarantor remaining unpaid, to the extent necessary to pay in full all such Senior Indebtedness. Each Holder of a Note by its acceptance thereof (a) agrees to and shall be bound by the provisions of this Section 10.07, (b) authorizes and directs the Trustee on the Holder's behalf to take such action as may be necessary and appropriate to effectuate the subordination so provided, and (c) appoints the Trustee as the Holder's attorney-in-fact for any and all such purposes.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article XIII shall be subordinated to the Senior Indebtedness of such Subsidiary Guarantor to the same extent and in the same manner as the Securities are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive or retain payments by any of the Subsidiary Guarantors only at such times as they may receive or retain payments in respect of the Securities pursuant to this Indenture, including Article XIV hereof.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Indenture or any supplemental indenture executed by such Subsidiary Guarantor are subordinated in right of payment to the prior payment in full in cash of all Senior Indebtedness of such Subsidiary Guarantor on the same basis as the Notes are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, (a) the Trustee and the holders of the Notes shall have the right to receive and/or retain payments by any of the Subsidiary Guarantors only at such times as they may receive and/or retain payments in respect of Notes pursuant to this Indenture, including Article 16 hereof and (b) Section 16.2 shall apply as to each Subsidiary Guarantor and its Guarantee on the same basis as it applies to the Company and the Notes (except that, as to any Subsidiary Guarantor, the clauses in the last paragraph of Section 16.2 that read "the terms and conditions set forth in Article 10" and "comply with the conditions set forth in Article 10" shall be deemed to read, respectively, "the terms and conditions set forth in Section 15.11"
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Guarantor under its Subsidiary Guarantee pursuant to this Article 12 shall be junior and subordinated to the prior payment in full in cash, or at the option of the holders of Senior Debt, in Cash Equivalents of all obligations in respect of Senior Debt of such Guarantor, whether outstanding on the date hereof or thereafter incurred (including amounts for which the Guarantors will be liable for under the Subsidiary Guarantees issued from time to time with respect to Senior Debt of such Guarantor or the Company) on the same basis as the Notes are junior and subordinated to Senior Debt. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article 10 hereof.
SUBORDINATION OF SUBSIDIARY GUARANTEES. Each Guarantee of a Guarantor under this Article 12 is subordinate and junior in right of payment to the prior payment in full, in cash, or at the option of the holders of Senior Debt of such Guarantor, in Cash Equivalents, of all Senior Debt of such Guarantor, including any Guarantee issued by such Guarantor that constitutes Senior Debt of such Guarantor, to the same extent and in the same manner to which the Notes are subordinated pursuant to Article 10 hereof to the Senior Debt of the Company, and all provisions of Article 10 hereof applicable to the subordination of the Notes shall similarly apply to the subordination of the Subsidiary Guarantees pursuant to this Article 12.
SUBORDINATION OF SUBSIDIARY GUARANTEES. The obligations of each Subsidiary Guarantor under its Subsidiary Guarantee pursuant to this Article 7 is subordinated in right of payment to the prior payment in full in cash or Cash Equivalents of all Senior Indebtedness of the Subsidiary Guarantor on the same basis as the Notes are subordinated to Senior Indebtedness of the Company. For the purposes of the foregoing sentence, the Holders of Notes shall have the right to receive and/or retain payments by any of the Subsidiary Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Note, including Article 7. In the event that the Holders receive any Subsidiary Guarantor payment at a time when such payment is prohibited by the foregoing sentence, such Subsidiary Guarantor payment shall be paid over and delivered to the holders of the Senior Indebtedness of the Subsidiary Guarantor remaining unpaid, to the extent necessary to pay in full in cash or Cash Equivalents all such Senior Indebtedness of the Subsidiary Guarantor. Each Holder of a Note by its acceptance thereof agrees to and shall be bound by the provisions of this Section 7.6.
