Common use of Subordination of Guarantees Clause in Contracts

Subordination of Guarantees. Any Guarantee issued by the Guarantor will be the unsecured senior subordinated obligation of the Guarantor, ranking pari passu with all other existing and future senior subordinated indebtedness of the Guarantor, if any. The Indebtedness evidenced by such Guarantee will be subordinated on the same basis to Senior Indebtedness of such Guarantor as the Securities are subordinated to Senior Indebtedness of the Company under Article Seventeen.

Subordination of Guarantees. Any The Guarantee issued by the any Guarantor will shall be the unsecured senior subordinated obligation obligations of the such Guarantor, ranking pari passu with all other existing and future senior subordinated indebtedness Pari Passu Indebtedness of the such Guarantor, if any. The Indebtedness evidenced by such Guarantee will shall be subordinated on the same basis to Senior Indebtedness of such Guarantor as the Securities Notes are subordinated to Senior Indebtedness of the Company under Article SeventeenFourteen.

Subordination of Guarantees. Any The Guarantee issued by the any Guarantor will be the unsecured senior subordinated obligation obligations of the such Guarantor, ranking pari passu with all other existing and future senior subordinated indebtedness of the such Guarantor, if any. The Indebtedness evidenced by such Guarantee will be subordinated on the same basis to Guarantor Senior Indebtedness of such Guarantor as the Securities Notes are subordinated to Senior Indebtedness of the Company under Article SeventeenFifteen.