Senior Subordinated Debt. Neither the Borrower nor any Guarantor will incur or suffer to exist Indebtedness that is senior in right of payment to the Loans or the Guarantee of such Guarantor, as applicable, and expressly subordinate in right of payment to any other Indebtedness of the Borrower or such Guarantor, as applicable.
Senior Subordinated Debt. (a) Consoltex Group and Consoltex USA shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt of Consoltex Group or Consoltex USA, respectively, and senior in any respect in right of payment to the Notes.
Senior Subordinated Debt. Notwithstanding the provisions of Section 4.09 hereof, (i) the Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt and senior in any respect in right of payment to the Notes, and (ii) no Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to Senior Debt of such Guarantor and senior in any respect in right of payment to such Guarantor's Subsidiary Guarantees.
Senior Subordinated Debt. On or before April 30, 2008, the Borrower shall have retired, defeased, refinanced (on terms reasonably acceptable to the Required Lenders) the Senior Subordinated Debt or extended the maturity date of the Senior Subordinated Debt beyond the Stated Termination Date.
Senior Subordinated Debt. The Agent shall have received evidence satisfactory to it in its discretion that the aggregate principal amount of Total Debt outstanding pursuant to the Santa Fe Indenture does not exceed $100,000,000 and that the aggregate principal amount of Total Debt outstanding pursuant to the Snyder Indenture does not exceed $175,000,000. All provisions xxx xayments required by this SECTION 7.1 are subject to the provisions of SECTION 12.8.
Senior Subordinated Debt. The subordination provisions relating to the Senior Subordinated Debt (the "Subordination Provisions") shall fail to be enforceable by the Lenders (which have not effectively waived the benefits thereof) in accordance with the terms thereof, or the principal or interest on any Loan, Reimbursement Obligation or other Obligations shall fail to constitute "Senior Debt" (as defined in any Senior Subordinated Debt) or "senior indebtedness" (or any other similar term)), or the Company or any of its Subsidiaries shall, directly or indirectly, disavow or contest in any manner (i) the effectiveness, validity or enforceability of any of the Subordination Provisions, or (ii) that any of such Subordination Provisions exist for the benefit of the Agents and the Lenders.
Senior Subordinated Debt. The Company will not, and will not permit its Subsidiaries to, incur or suffer to exist Indebtedness that is senior in right of payment to the Notes, and expressly subordinate in right of payment to any other Indebtedness of the Company or the Subsidiaries.
Senior Subordinated Debt. The Company shall not, and shall not permit any Restricted Subsidiary to, incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in any respect in right of payment to the Exchange Debentures.
Senior Subordinated Debt. Notwithstanding the provisions of Section 4.09 hereof, (i) the Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt and senior in any respect in right of payment to the Notes, and (ii) no Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to Senior Debt of such Guarantor and senior in any respect in right of payment to such Guarantor's Subsidiary Guarantee. For purposes of this covenant, Indebtedness is deemed to be senior in right of payment to the Notes or the Guarantees, as the case may be, if it is not explicitly subordinated in right of payment to Senior Debt at least to the same extent as the Notes and the Guarantees, as the case may be, are subordinated to such Senior Debt.
Senior Subordinated Debt. The Borrowers will not, and will not permit any of their Subsidiaries to, amend, supplement or otherwise modify the terms of any of the Senior Subordinated Debt Documents in a manner adverse to the Agent or the Lenders or prepay, redeem or repurchase (or offer to prepay, redeem or repurchase) any of the Senior Subordinated Debt or make any payment in respect of the Senior Subordinated Debt other than regular scheduled interest payments not prohibited by the subordination terms of the Senior Subordinated Indenture.
