Subrogation of Securities. Subject to the payment in full of all Senior Indebtedness of the Company, the rights of the holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness of the Company to receive payments or distributions of cash, property or securities of the Company applicable to the Senior Indebtedness of the Company until the principal of (and premium, if any) and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the holders of the Securities or the Trustee would be entitled except for the provisions of this Article XII no payment over pursuant to the provisions of this Article XII, to or for the benefit of the holders of Senior Indebtedness of the Company by holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness of the Company. It is understood that the provisions of this Article XII are and are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the holders of the Senior Indebtedness of the Company, on the other hand. Nothing contained in this Article XII or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of its Senior Indebtedness, and the holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Securities and creditors of the Company other than the holders of its Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XII of the holders of Senior Indebtedness of the Company in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment ...
Subrogation of Securities. 52 Section 10.04. Authorization by Holders.......................................................... 53 Section 10.05.
Subrogation of Securities. 46 Section 12.4 Authorization to Effect Subordination............................................ 47
Subrogation of Securities. Subject to the payment in full of all Senior Indebtedness, the rights of the Holders of the Securities and any related Guarantee shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this Article (equally and ratably with the holders of all indebtedness of the Issuers which by its express terms is subordinated to other indebtedness of the Issuers to substantially the same extent as the Securities are subordinated and is entitled to like rights of subrogation) to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Issuers applicable to the Senior Indebtedness until the principal, premium, if any, and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article, and no payment pursuant to the provisions of this Article, to or for the benefit of the holders of the Senior Indebtedness by Holders of the Securities or the Trustee, shall, as between the Issuers, their creditors other than holders of Senior Indebtedness, and the Holders of the Securities, be deemed to be a payment by the Issuers to or on account of the Senior Indebtedness; and no payments or distributions of cash, property or securities to or for the benefit of the Holders of the Securities pursuant to the subrogation provisions of this Article, which would otherwise have been paid to the holders of the Senior Indebtedness, shall be deemed to be a payment by the Issuers to or for the account of the Securities or any related Guarantee. It is understood that the provisions of this Article are and are intended solely for the purposes of defining the relative rights of the Holders of the Securities and any related Guarantee, on the one hand, and the holders of the Senior Indebtedness, on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among an Issuer and such Issuer’s creditors other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Issuers and any Guarantor, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and p...
Subrogation of Securities. 49 SECTION 5.4. AUTHORIZATION TO EFFECT SUBORDINATION............................. 50 SECTION 5.5.
Subrogation of Securities. 67 SECTION 11.4
Subrogation of Securities. 76 SECTION 13.06. Company Obligation to Pay Unconditional................... 76 SECTION 13.07. Authorization of Holders of Securities to Trustee to Effect Subordination................................... 77 SECTION 13.08. Notice to Trustee of Facts Prohibiting Payments........... 77 SECTION 13.09. Trustee May Hold Senior Indebtedness...................... 77 SECTION 13.10. All Indenture Provisions Subject to this Article.......... 78
Subrogation of Securities. 85 SECTION 15.4
Subrogation of Securities. 48 Section 12.4. Authorization to Effect Subordination............................................... 49 Section 12.5. Notice to Trustee................................................................... 49 Section 12.6. Trustee's Relation to Senior Indebtedness........................................... 50 Section 12.7. No Impairment of Subordination...................................................... 50 Section 12.8. Article Applicable to Paying Agents................................................. 51 Section 12.9. Senior Indebtedness Entitled to Rely................................................ 51 KRAMONT REALTY TRUST RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939 AND INDENTURE, DATED AS OF _____________, 200_
Subrogation of Securities. 71 SECTION 12.04. Authorization by Securityholders..............................72 SECTION 12.05.
