Common use of Subordination of Guarantees Clause in Contracts

Subordination of Guarantees. The obligations of each Subsidiary Guarantor under its Guarantee pursuant to this Article 11 shall be junior and subordinated to the prior payment in full in cash of all Senior Debt and Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 with respect to such Subsidiary Guarantor at the rate specified in the applicable Guarantor Senior Debt, whether or not such interest would be an allowed claim in such proceeding) of such Subsidiary Guarantor, in each case on the same basis as the Notes are junior and subordinated to Senior Debt, mutatis mutandis. 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 and distributions in respect of the Notes pursuant to this Indenture, including Article 10 hereof.

Subordination of Guarantees. The obligations of each Subsidiary Guarantor under its the Guarantee pursuant to this Article 11 Fourteen shall be junior and subordinated to the prior payment in full in cash of all Senior Debt and Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 14.1 with respect to such Subsidiary Guarantor at the rate specified in the applicable Guarantor Senior Debt, whether or not such interest would be an allowed claim in such proceeding) of such Subsidiary Guarantor, in each case on the same basis as the Notes Securities are junior and subordinated to Senior Debt, as set forth in Article Fifteen mutatis mutandis. 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 a Guarantor only at such times as they may receive and/or retain payments and distributions in respect of the Notes Securities pursuant to this Indenture, including Article 10 Fifteen hereof.. ARTICLE FIFTEEN

Subordination of Guarantees. The obligations Obligations of each Subsidiary Guarantor under its Guarantee pursuant to this Article 11 ARTICLE 12 shall be junior and subordinated in right of payment to the prior payment in full in cash or Cash Equivalents of all Senior Debt and the Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 with respect to such Subsidiary Guarantor at the rate specified in the applicable Guarantor Senior Debt, whether or not such interest would be an allowed claim in such proceeding) Indebtedness of such Subsidiary Guarantor, in each case Guarantor on the same basis and to the same extent as the Notes Subordinated Obligations are junior and subordinated in right of payment to Senior DebtIndebtedness of the Company pursuant to ARTICLE 11, mutatis mutandisMUTATIS MUTANDIS, and the provisions of ARTICLE 11 are incorporated MUTATIS MUTANDIS in this ARTICLE 12 by this reference. For the purposes of the foregoing sentence, the Holders and the Trustee and on behalf of 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 and distributions in respect of the Notes pursuant to this Indenture, including Article 10 hereofARTICLE 11.

Subordination of Guarantees. The obligations of each Subsidiary Guarantor under its Guarantee pursuant to this Article 11 shall be junior and subordinated to the prior payment in full in cash of all Senior Debt and Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 with respect to such Subsidiary Guarantor at the rate specified in the applicable Guarantor Senior Debt, whether or not such interest would be an allowed claim in such proceeding) of such Subsidiary Guarantor, in each case on the same basis as the Notes are junior and subordinated to Senior Debt, mutatis mutandis. 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 and distributions in respect of the Notes pursuant to this Indenture, including Article 10 hereof.retain

Subordination of Guarantees. The obligations of each Subsidiary the Guarantor under its the Guarantee pursuant to this Article 11 16 shall be junior and subordinated to the prior payment in full in cash of all Senior Debt and Indebtedness of the Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 17.1 with respect to such Subsidiary the Guarantor at the rate specified in the applicable Guarantor Senior DebtIndebtedness of the Guarantor, whether or not such interest would be an allowed claim in such proceeding) of such Subsidiary the Guarantor, in each case on the same basis as the Notes Securities are junior and subordinated to Senior DebtIndebtedness, as set forth in Article 17 mutatis mutandis. 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 Guarantor only at such times as they may receive and/or retain payments and distributions in respect of the Notes Securities pursuant to this Indenture, including Article 10 17 hereof.

Subordination of Guarantees. The obligations of each Subsidiary Guarantor under its Guarantee pursuant to this Article 11 shall be junior and subordinated to the prior payment in full in cash of all Senior Debt and Guarantor Senior Debt (including interest after the commencement of any proceeding of the type described in Section 10.02 with respect to such Subsidiary Guarantor at the rate specified in the applicable Guarantor Senior Debt, whether or not such interest would be an allowed claim in such proceeding) of such Subsidiary Guarantor, in each case on the same basis as the Notes are junior and subordinated to Senior Debt, mutatis mutandis. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by 104 any of the Subsidiary Guarantors only at such times as they may receive and/or retain payments and distributions in respect of the Notes pursuant to this Indenture, including Article 10 hereof.