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 of all amounts due or to become due on all Senior Debt, whether in cash, securities or other property, each holder of a Note shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions hereof (equally and ratably with the holders of all Indebtedness of the 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 the Senior Debt until the principal of and any premium and interest on the Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which each holder of a Note would be entitled except for these subordination provisions, and no payments made pursuant to these subordination provisions to the holders of Senior Debt by the holder of a Note, shall, as among the Company, its creditors other than holders of Senior Debt, and the holder of a Note, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 17.5.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all amounts due or to become due on all or in respect of Senior Debt, whether in cash, securities or other property, each holder of a Note shall be subrogated to the extent Debt of the payments Company, or distributions made the provision for such payment, in cash or Cash Equivalents or otherwise in a manner satisfactory to the holders of such Senior Debt pursuant to of the provisions hereof Company, the Holders shall be subrogated (equally and ratably with the holders of all Indebtedness Debt of the Company that Company, if any, which by its express terms is subordinated to Senior Debt of the Company to substantially the same extent as each Note is the Notes are subordinated to the Senior Debt of the Company and is entitled to like rights of subrogation by reason of any payments or distributions made to holders of such Senior Debt) in right of payment to the rights of the holders of such Senior Debt of the Company to receive payments and distributions of cash, property and securities applicable to the Senior Debt of the Company until the principal of (and any premium premium, if any) and interest on the 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 each holder of a Note the Holders or the Trustee would be entitled except for these subordination provisionsthe provisions of this Article XI, and no payments made over pursuant to these subordination the provisions of this Article XI to the holders of Senior Debt of the Company by Holders or the holder of a NoteTrustee, shall, as among the Company, its creditors other than holders of Senior Debt, Debt and the holder of a NoteHolders, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 17.5Debt of the Company.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all amounts due or to become due on all or in respect of Senior Debt, whether or the provision for such payment, in cash, securities cash or other property, each holder of Cash Equivalents or otherwise in a Note shall be subrogated to the extent of the payments or distributions made manner satisfactory to the holders of such Senior Debt pursuant to Debt, the provisions hereof Holders of the Securities shall be subrogated (equally and ratably with the holders of all Indebtedness of the Company that which by its express terms is subordinated to Senior Debt Indebtedness of the Company to substantially the same extent as each Note is the Securities are 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 the Senior Debt until the principal of (and any premium premium, if any) and interest on the Notes Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which each holder the Holders of a Note the Securities or the Trustee or the Securities Administrator would be entitled except for these subordination provisionsthe provisions of this Article, and no payments made over pursuant to these subordination the provisions of this Article to the holders of Senior Debt by Holders of the holder of a NoteSecurities or the Trustee or the Securities Administrator, shall, as among the Company, its creditors other than holders of Senior Debt, Debt and the holder Holders of a Notethe Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 17.5.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all amounts due or to become due on all or in respect of Senior DebtDebt of SRI, whether or the provision for such payment, in cash, securities cash or other property, each holder of cash equivalents or otherwise in a Note shall be subrogated to the extent of the payments or distributions made manner satisfactory to the holders of such Senior Debt pursuant to of SRI, the provisions hereof Holders of the Notes shall be subrogated (equally and ratably with the holders of all Indebtedness Debt of the Company that SRI, if any, which by its express terms is subordinated to Senior Debt of the Company SRI to substantially the same extent as each Note is the Notes are subordinated to the Senior Debt of SRI 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 of SRI to receive payments and distributions of cash, property and securities applicable to the Senior Debt of SRI until the principal of (and any premium premium, if any) and interest on the Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of SRI of any cash, property or securities to which each holder the Holders of a Note the Notes or the Trustee would be entitled except for these subordination provisionsthe provisions of this Article XI, and no payments made over pursuant to these subordination the provisions of this Article XI to the holders of Senior Debt of SRI by Holders of the holder of a NoteNotes or the Trustee, shall, as among the CompanySRI, its creditors other than holders of its Senior Debt, Debt and the holder Holders of a Notethe Notes, be deemed to be a payment or distribution by the Company SRI to or on account of the Senior Debt. 17.5Debt of SRI.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all amounts due or to become due on all or in respect of Senior Debt, whether or the provision for such payment, in cash, securities cash or other property, each holder of Cash Equivalents or otherwise in a Note shall be subrogated to the extent of the payments or distributions made manner satisfactory to the holders of such Senior Debt pursuant to Debt, the provisions hereof Holders of the Securities shall be subrogated (equally and ratably with the holders of all Indebtedness of the Company that which by its express terms is subordinated to Senior Debt Indebtedness of the Company to substantially the same extent as each Note is the Securities are 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 the Senior Debt until the principal of (and any premium premium, if any) and interest on the Notes Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which each holder the Holders of a Note the Securities or the Trustee would be entitled except for these subordination provisionsthe provisions of this Article, and no payments made over pursuant to these subordination the provisions of this Article to the holders of Senior Debt by Holders of the holder of a NoteSecurities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt, Debt and the holder Holders of a Notethe Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 17.5.

Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all amounts due or to become due on all Senior Debt, whether or in cash, securities or other property, each holder respect of a Note shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions hereof (equally and ratably with the holders of all Indebtedness of the Company that by its express terms is subordinated to Senior Debt of the Company to substantially or the same extent as each Note is subordinated provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory 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) , the Holders of the 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 the Senior such Debt until the principal of (and any premium premium, if any) and interest on the 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 each holder the Holders of a Note the Notes or the Trustee would be entitled except for these subordination provisionsthe provisions of this Article, and no payments made over pursuant to these subordination the provisions of this Article to the holders of Senior Debt by Holders of the holder of a NoteNotes or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt, Debt and the holder Holders of a Notethe Notes, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 17.5Debt of the Company.