Effect on Senior Indebtedness Clause Samples
The "Effect on Senior Indebtedness" clause defines how a particular agreement or action impacts the rights and obligations related to senior debt, which is debt that takes priority over other unsecured or subordinated debt in the event of liquidation. Typically, this clause clarifies that nothing in the agreement will alter, impair, or otherwise affect the terms or enforceability of the senior indebtedness, ensuring that senior lenders retain their priority status. Its core practical function is to reassure senior creditors that their claims and rights remain protected, thereby reducing the risk of disputes or unintended subordination.
Effect on Senior Indebtedness. No supplemental indenture shall adversely affect the rights of any holder of Senior Indebtedness under Article Sixteen without the consent of such holder.
Effect on Senior Indebtedness. No supplemental indenture will directly or indirectly modify or eliminate the Subordination Provisions or the definition of “Senior Indebtedness” applicable with respect to the Subordinated Notes in any manner that might terminate or impair the subordination of such Subordinated Notes to such Senior Indebtedness without the prior written consent of each of the holders of such Senior Indebtedness.
Effect on Senior Indebtedness. No supplemental indenture shall directly or indirectly modify or eliminate the provisions of Article 16 or Article 18, as the case may be, in any manner which might terminate or impair the subordination of the Securities of any series to Company Senior Indebtedness with respect to such series or the subordination of the Guarantee in respect thereof to Guarantor Senior Indebtedness with respect to such series, respectively, without the prior written consent of the holders of such Company Senior Indebtedness or Guarantor Senior Indebtedness, respectively.
Effect on Senior Indebtedness. No amendment of this Indenture shall adversely affect the rights of any holder of Senior Indebtedness of the Company or any Restricted Subsidiary under Article Ten or Twelve of this Indenture, without the consent of such holder (or its Representative).
Effect on Senior Indebtedness. No supplemental indenture shall directly or indirectly modify or eliminate the provisions of ARTICLE 13 in any manner which might terminate or impair the subordination of the Securities of any series to Senior Indebtedness with respect to such series without the prior written consent of the holders of such Senior Indebtedness.
Effect on Senior Indebtedness. No supplemental indenture shall adversely affect the rights under Article Thirteen or Article Fourteen of any holder of Senior Indebtedness unless the requisite holders of such issue of Senior Indebtedness affected thereby shall have consented in writing to such supplemental indenture. ARTICLE TEN
Effect on Senior Indebtedness. No supplemental indenture shall directly or indirectly modify or eliminate the Subordination Provisions or the definition of "
Effect on Senior Indebtedness. No supplemental indenture shall adversely affect the rights of the holders of Senior Indebtedness under Article Thirteen unless expressly consented to in writing by or on behalf of such holders or by any specified percentage of holders of a class of Senior Indebtedness required to consent thereto pursuant to the terms of the agreement or instrument creating, evidencing or governing such Senior Indebtedness, in which event such supplemental indenture shall be binding on all successors and assigns of such holders and on all persons who become holders of such Senior Indebtedness issued after the date of such amendment or modification.
Effect on Senior Indebtedness. No amendment of this Agreement shall adversely affect the rights of any holder of Senior Indebtedness under this Section 8 of this Agreement, without the consent of such holder.
Effect on Senior Indebtedness. No supplemental indenture shall adversely affect the rights of the holders of Senior Indebtedness under Article XIV hereof or the holders of Guarantor Senior Indebtedness under Sections 13.8, 13.9, 13.10, 13.11, 13.13, 13.14, 13.15, 13.16 and 13.19 hereof unless expressly consented to in writing by or on behalf of such holders (or by any specified percentage of holders of a class of Senior Indebtedness or Guarantor Senior Indebtedness, as the case may be, required to consent thereto pursuant to the terms of the agreement or instrument creating, evidencing or governing such Senior Indebtedness or Guarantor Senior Indebtedness, as the case may be), in which event such supplemental indenture shall be binding on all successors and assigns of such holders and on all Persons who become holders of such Senior Indebtedness or Guarantor Senior Indebtedness issued after the date of such amendment or modification.