Common use of Limitation on Layering Clause in Contracts

Limitation on Layering. The Company shall not incur any indebtedness that is contractually senior in right of payment to the Securities and contractually subordinate in right of payment to any other indebtedness of the Company, other than any Senior Secured Bank Indebtedness that may be subordinate in right of payment to the Project Indebtedness.

Limitation on Layering. The Company shall not and shall not permit any of its Restricted Subsidiaries to incur any indebtedness that Indebtedness if such Indebtedness is contractually expressly subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Securities and contractually subordinate in right of payment to any other indebtedness of the Company, other than any Senior Secured Bank Indebtedness that may be subordinate in right of payment to the Project IndebtednessSecurities.

Limitation on Layering. The Company shall not incur incur, create, issue, assume, guarantee or otherwise become liable for any indebtedness Indebtedness that is contractually subordinate or junior in right of payment to any Senior Debt of the Company and senior in right of payment to the Securities and contractually subordinate in right of payment to any other indebtedness of the Company, other than any Senior Secured Bank Indebtedness that may be subordinate in right of payment to the Project IndebtednessSubordinated Notes.

Limitation on Layering. The Company shall not incur any indebtedness Indebtedness that is contractually senior in right of payment to the Securities Notes and contractually subordinate in right of payment to any other indebtedness Indebtedness of the Company, other than any Senior Secured Bank Indebtedness that may be subordinate in right of payment to the Project Indebtedness.

Limitation on Layering. The Company shall not incur any indebtedness Indebtedness that is contractually senior in right of payment to the Securities Notes and contractually subordinate in right of payment to any other indebtedness Indebtedness of the Company, other than . No Guarantor shall incur any Senior Secured Bank Indebtedness that may be is contractually senior in right of payment to the Note Guarantee of such Guarantor and contractually subordinate in right of payment to the Project Indebtednessany other Indebtedness of such Guarantor.