Defeasance of this Article XII. The subordination of the Securities of a series provided by this Article XII is expressly made subject to the provisions for Defeasance or Covenant Defeasance in Article XV hereof and, anything herein to the contrary notwithstanding, upon the effectiveness of any such Defeasance or Covenant Defeasance, the Securities of such series then outstanding shall thereupon cease to be subordinated pursuant to this Article XII.
Appears in 2 contracts
Sources: Subordinated Indenture (California Resources Real Estate Ventures, LLC), Subordinated Indenture (California Resources Production Corp)