Common use of No Payment on Securities in Certain Circumstances Clause in Contracts

No Payment on Securities in Certain Circumstances. (a) Upon the maturity of any Senior Indebtedness by lapse of time, acceleration or otherwise, all principal thereof and interest thereon and other amounts due in connection therewith shall first be paid in full, or such payment duly provided for or other provision made therefor in a manner satisfactory to the holders of such Senior Indebtedness, before any payment is made (i) on account of principal of or interest on any of the Securities or (ii) to acquire any of the Securities for cash or property other than capital stock of the Company.

No Payment on Securities in Certain Circumstances. (a) Upon the maturity of any Senior Indebtedness Debt by lapse of time, acceleration or otherwise, all principal thereof and interest thereon and other amounts due in connection therewith shall first be paid in full, or such payment duly provided for or other provision made therefor in a manner satisfactory to the holders of such Senior IndebtednessDebt, before any payment is made (i) on account of principal of or interest on any of the Securities or (ii) to acquire any of the Securities for cash or property other than capital stock of the Company.