SUBORDINATION OF DEBT SECURITIES AND GUARANTEE Sample Clauses

SUBORDINATION OF DEBT SECURITIES AND GUARANTEE. Section 12.01. Applicability of Article; Agreement To Subordinate.........................................52 Section 12.02. Liquidation, Dissolution, Bankruptcy.......................................................52 Section 12.03. Default on Senior Indebtedness.............................................................53 Section 12.04. Acceleration of Payment of Debt Securities.................................................54 Section 12.05. When Distribution Must Be Paid Over........................................................54 Section 12.06. Subrogation................................................................................54
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SUBORDINATION OF DEBT SECURITIES AND GUARANTEE. Section 12.01. Applicability of Article; Agreement to Subordinate 39 Section 12.02. Liquidation, Dissolution, Bankruptcy 39 Section 12.03. Default on Senior Indebtedness 39 Section 12.04. Acceleration of Payment of Debt Securities 40 Section 12.05. When Distribution Must Be Paid Over 40 Section 12.06. Subrogation 40 Section 12.07. Relative Rights 40 Section 12.08. Subordination May Not Be Impaired by Partnership 41 Section 12.09. Rights of Trustee and Paying Agent 41 Section 12.10. Distribution or Notice to Representative 41 Section 12.11. Article XII Not to Prevent Defaults or Limit Right to Accelerate 41 Section 12.12. Trust Moneys Not Subordinated 41 Section 12.13. Trustee Entitled to Rely 41 Section 12.14. Trustee to Effectuate Subordination 42 Section 12.15. Trustee Not Fiduciary for Holders of Senior Indebtedness 42 Section 12.16. Reliance by Holders of Senior Indebtedness on Subordination Provisions 42 ARTICLE XIII.
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SUBORDINATION OF DEBT SECURITIES AND GUARANTEE. Section 12.01 Applicability of Article; Agreement to Subordinate 44 Section 12.02 Liquidation, Dissolution, Bankruptcy 44 Section 12.03 Default on Senior Indebtedness 44 Section 12.04 Acceleration of Payment of Debt Securities 45 Section 12.05 When Distribution Must Be Paid Over 45 Section 12.06 Subrogation 45 Section 12.07 Relative Rights 45 Section 12.08 Subordination May Not Be Impaired by Issuers 46 Section 12.09 Rights of Trustee and Paying Agent 46 Section 12.10 Distribution or Notice to Representative 46 Section 12.11 Article XII Not to Prevent Defaults or Limit Right to Accelerate 46 Section 12.12 Trust Moneys Not Subordinated 46 Section 12.13 Trustee Entitled to Rely 46 Section 12.14 Trustee to Effectuate Subordination 47 Section 12.15 Trustee Not Fiduciary for Holders of Senior Indebtedness 47 Section 12.16 Reliance by Holders of Senior Indebtedness on Subordination Provisions 47 ARTICLE XIII MISCELLANEOUS PROVISIONS Section 13.01 Successors and Assigns of Issuers Bound by Indenture 47 Section 13.02 Acts of Board, Committee or Officer of Successor Issuer Valid 47 Section 13.03 Required Notices or Demands 47 Section 13.04 Indenture and Debt Securities to Be Construed in Accordance with the Laws of the State of New York 48
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SUBORDINATION OF DEBT SECURITIES AND GUARANTEE 
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Related to SUBORDINATION OF DEBT SECURITIES AND GUARANTEE

  • Subordination of Debentures 48 Section 16.1. Agreement to Subordinate........................................48 Section 16.2. Default on Senior Debt, Subordinated Debt or Additional Senior Obligations..................................................49 Section 16.3.

  • 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 NOTES Section 11.01.

  • Subordination of Debt Until senior debt has been paid in full, Debtor will not pay and Creditor will not accept any payment on subordinated debt at any time that an Event of Default (as defined in the Senior Facility Agreement) has occurred and is continuing in respect of senior debt. Anything of value received by Creditor on account of subordinated debt in violation of this agreement will be held by Creditor in trust and immediately will be turned over to Lender in the form received to be applied by Lender on senior debt.

  • Subordination of Guarantees ANTI-LAYERING. 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 any Senior Debt of a Guarantor and senior in any respect in right of payment to any of the Guarantees. Notwithstanding the foregoing sentence, 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 Securities are subordinated to Senior Debt), which shall include all guarantees of Senior Debt.

  • Subordination of Common Securities (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

  • Subordination of Guarantee The guarantee and other liabilities and obligations of the Depositor under this Agreement shall constitute unsecured obligations of the Depositor and shall rank subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) of the Depositor to the extent and in the manner set forth in the Indenture with respect to the Debentures, and the provisions of Article XIII of the Indenture will apply, mutatis mutandis, to the obligations of the Depositor hereunder. The obligations of the Depositor hereunder do not constitute Senior Indebtedness (as defined in the Indenture) of the Depositor.

  • Execution of Debt Securities The Debt Securities shall be signed on behalf of the Partnership by the Chairman of the Board, the President or a Vice President of the General Partner and, if the seal of the General Partner is reproduced thereon, it shall be attested by its Secretary, an Assistant Secretary, a Treasurer or an Assistant Treasurer. Such signatures upon the Debt Securities may be the manual or facsimile signatures of the present or any future such authorized officers and may be imprinted or otherwise reproduced on the Debt Securities. The seal of the General Partner, if any, may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Debt Securities. Only such Debt Securities as shall bear thereon a certificate of authentication substantially in the form hereinbefore recited, signed manually by the Trustee, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon any Debt Security executed by the General Partner on behalf of the Partnership shall be conclusive evidence that the Debt Security so authenticated has been duly authenticated and delivered hereunder. In case any officer of the General Partner who shall have signed any of the Debt Securities shall cease to be such officer before the Debt Securities so signed shall have been authenticated and delivered by the Trustee, or disposed of by the Partnership, such Debt Securities nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Debt Securities had not ceased to be such officer of the General Partner; and any Debt Security may be signed on behalf of the General Partner by such Persons as, at the actual date of the execution of such Debt Security, shall be the proper officers of the General Partner, although at the date of such Debt Security or of the execution of this Indenture any such Person was not such officer.

  • Subordination of Note Guarantee The Obligations of each Guarantor under its Note Guarantee pursuant to this Article 11 will 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. For the purposes of the foregoing sentence, the Trustee and the Holders will 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.

  • Reference in Debt Securities to Supplemental Indentures Debt Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Debt Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Debt Securities of such series.

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