Common use of Subrogation to Rights of Holders of Senior Debt Clause in Contracts

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt 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, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on all Senior Debt, whether in cash, securities or in respect other property, each holder of Senior Debt a Note shall be subrogated to the extent of the Company payments or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory distributions made to the holders of such Senior Debt, Debt pursuant to the Holders provisions hereof (equally and ratably with the holders of all Indebtedness of the Securities shall be subrogated Company that by its express terms is subordinated to Senior Debt of the Company to substantially the same extent as each Note is subordinated to the Senior Debt and is entitled to like rights of subrogation by reason of any payments or distributions made to holders of such Senior Debt) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such the Senior Debt until the principal of (and premium, if any) any premium and interest on the Securities Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders each holder of the Securities or the Trustee a Note would be entitled except for the provisions of this Articlethese subordination provisions, and no payments over made pursuant to the these subordination provisions of this Article to the holders of Senior Debt by the holder of the Company by Holders of the Securities or the Trusteea Note, shall, as among the Company, its creditors other than holders of Senior Debt Debt, and the Holders holder of the Securitiesa Note, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.Debt. 29

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except -91- 100 for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash or cash equivalents of all amounts due or to become due on or in respect of Senior Debt of the Company or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities Notes shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such Senior Debt until the principal of (and premium, if any) and interest on the Securities Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders of the Securities Notes or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities Notes or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the SecuritiesNotes, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company Debt, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such the Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt 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, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the CompanyDebt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company Company, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities Notes shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such Senior Debt until the principal of (and premium, if any) and interest on the Securities Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders of the Securities Notes or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company Company, as the case may be, by Holders of the Securities Notes or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the SecuritiesNotes, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company Debt, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such the Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders of the Securities or the Indenture Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities or the Indenture Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the CompanyDebt.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such Senior Debt until the principal of (and of, premium, if any) , and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt 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, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt of the Company by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full in cash of all amounts due or to become due on or in respect of Senior Debt of the Company Debt, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt, the Holders holders of the Securities Notes shall be subrogated to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to such the Senior Debt until the principal of (and premium, if any) and interest on the Securities Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of the Company of any cash, property or securities to which the Holders holders of the Securities or the Trustee Notes would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by holders of the Company by Holders of the Securities or the TrusteeNotes, shall, as among the CompanyMAI, its creditors other than holders of Senior Debt and the Holders holders of the SecuritiesNotes, be deemed to be a payment or distribution by the Company MAI to or on account of the Senior Debt of the CompanyDebt.