Subordination of the Guarantees. Section 10.1. Guarantees Subordinated to Guarantor Senior Debt.............................................. 104 Section 10.2. Suspension of Payment When Guarantor Senior Debt Is in Default................................ 105 Section 10.3. Guarantees Subordinated to Prior Payment of All Guarantor Senior Debt on Dissolution, Liquidation or Reorganization of the Guarantors............................................... 106 Section 10.4. Payments May Be Paid Prior to Dissolution.....................................................
Subordination of the Guarantees. Section 1501. Guarantees Subordinated to Guarantor Senior Debt. Anything herein to the contrary notwithstanding, each of the Company and the Guarantors, for itself and its successors, and each Holder, by his or her acceptance of Guarantees, agrees that the payment by the Guarantors of all Obligations with respect to the Guarantees is subordinated in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on Guarantor Senior Debt (including all Obligations with respect to the Credit Agreement). Notwithstanding the foregoing, payments and distributions made relating to the Guarantees pursuant to the trust described under Article Thirteen hereof shall not be so subordinated in right of payment so long as the payments into the trust were made in accordance with the requirements described under Article Thirteen hereof and did not violate the subordination provisions when they were made. This Article Fifteen shall constitute a continuing offer to all Persons who become holders of, or continue to hold, Guarantor Senior Debt, and such provisions are made for the benefit of the holders of Guarantor Senior Debt and such holders are made obligees hereunder and any one or more of them may enforce such provisions. Each such holder shall be deemed to have acquired such Guarantor Senior Debt in reliance upon the covenants and provisions contained in this Article Fifteen.
Subordination of the Guarantees. SECTION 12.01. AGREEMENT TO SUBORDINATE SECTION 12.02. LIQUIDATION, DISSOLUTION, BANKRUPTCY SECTION 12.03. DEFAULT ON DESIGNATED SENIOR INDEBTEDNESS OF A GUARANTOR SECTION 12.04. DEMAND FOR PAYMENT SECTION 12.05. WHEN DISTRIBUTION MUST BE PAID OVER SECTION 12.06. SUBROGATION SECTION 12.07. RELATIVE RIGHTS SECTION 12.08. SUBORDINATION MAY NOT BE IMPAIRED BY A GUARANTOR SECTION 12.09. RIGHTS OF TRUSTEE AND PAYING AGENT
Subordination of the Guarantees. 71 SECTION 12.01. Agreement To Subordinate..................................................... 71 SECTION 12.02.
Subordination of the Guarantees. SECTION 17.1 GUARANTOR SUBORDINATED OBLIGATIONS SUBORDINATED TO GUARANTOR SENIOR DEBT.
Subordination of the Guarantees. 80 SECTION 12.01. Agreement To Subordinate...............................80 SECTION 12.02. Liquidation, Dissolution, Bankruptcy...................80 SECTION 12.03. Default on Senior Indebtedness of Guarantor............80 SECTION 12.04. Demand for Payment.....................................81 SECTION 12.05. When Distribution Must Be Paid Over....................81 SECTION 12.06. Subrogation............................................81 SECTION 12.07. Relative Rights........................................82 SECTION 12.08. Subordination May Not Be Impaired by Guarantor.........82 SECTION 12.09. Rights of Trustee and Paying Agent.....................82 SECTION 12.10. Distribution or Notice to Representative...............82 SECTION 12.11. Article 12 Not To Prevent Defaults Under the Guarantees or Limit Right To Demand Payment............82 SECTION 12.12. Trustee Entitled To Rely...............................83 SECTION 12.13. Trustee To Effectuate Subordination....................83 SECTION 12.14. Trustee Not Fiduciary for Holders of Senior Indebtedness of Guarantors.............................83 SECTION 12.15. Reliance by Holders of Senior Indebtedness on Subordination Provisions...............................83 SECTION 12.16. No Waiver of Subordination Provisions..................84 SECTION 12.17. Other Rights of Holders of Senior Indebtedness.........84 ARTICLE 13 MISCELLANEOUS...................................................85 SECTION 13.01.
Subordination of the Guarantees. Section 12.01.
Subordination of the Guarantees. (a) The New Guarantor agrees, and each Holder by accepting a Security agrees, that the obligations of the New Guarantor hereunder are subordinated in right of payment, to the extent and in the manner provided in this Section 3, to the prior payment in full of all existing and future Subject Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of such Subject Senior Indebtedness. The obligations hereunder with respect to the New Guarantor shall in all respects rank pari passu in right of payment with all existing and future Subject Pari Passu Indebtedness and shall rank senior in right of payment to all existing and future Subject Subordinated Indebtedness; and only Indebtedness of the New Guarantor that is Subject Senior Indebtedness shall rank senior to the obligations of the New Guarantor hereunder in accordance with the provisions set forth herein. For purposes of this Section 3, the Indebtedness evidenced by the Securities shall be deemed to include any Additional Interest payable pursuant to the provisions set forth in the Securities and the Registration Agreement. All provisions of this Section 3 shall be subject to Section 3(p).
Subordination of the Guarantees. Each of the Guarantors agrees and each Holder by accepting a Note agrees, that all payments pursuant to the Notes and the Guarantees made by or on behalf of such Guarantors are subordinated to the extent and in the manner provided in this Article 11 to all existing and future obligations of the Guarantors under the Guarantor Priority Debt and that such subordination is for the benefit of and enforceable by the holders of the Guarantor Priority Debt. The Notes and each Guarantee shall in all respects rank senior in right of payment to any future Subordinated Debt of the Company and the Guarantors.
Subordination of the Guarantees
