Common use of Indebtedness or Disqualified Clause in Contracts

Indebtedness or Disqualified. Equity Interests of Borrower owed or issued to and held by any Restricted Subsidiary which is unsecured and subordinated in right of payment to the payment and performance of Borrower's obligations under any Senior Indebtedness, the Notes, this Agreement, the Senior Subordinated Indenture and the Exchange Notes (or pledged to secure any Senior Indebtedness); provided, however, -------- ------- that an Incurrence of Indebtedness or issuance of Disqualified Equity Interests that is not permitted by this clause (d) shall be deemed to have occurred upon (i) any sale or other disposition of any Indebtedness or Disqualified Equity Interests of Borrower or any Restricted Subsidiary referred to in this clause (d) to a Person (other than Borrower or any Restricted Subsidiary), (ii) any sale or other disposition of Equity Interests of any Restricted Subsidiary which holds Indebtedness or Disqualified Equity Interests of Borrower or another Restricted Subsidiary such that such Restricted Subsidiary ceases to be a Restricted Subsidiary, or (iii) the designation of a Restricted Subsidiary which holds Indebtedness or Disqualified Equity Interests of Borrower or any other Restricted Subsidiary as an Unrestricted Subsidiary;