Common use of Provisions Solely to Define Relative Rights Clause in Contracts

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.

Appears in 8 contracts

Sources: Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21302, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 7 contracts

Sources: Guaranty Agreement (Marsh Village Pantries Inc), Indenture (Jo-Ann Stores Inc), Indenture (Packard Bioscience Co)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21402, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31403, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1403(d), or (3) as specified in Section 5.2.

Appears in 4 contracts

Sources: Indenture (Uag Connecticut I LLC), Indenture (Atlantic Auto Funding Corp), Indenture (HBL LLC)

Provisions Solely to Define Relative Rights. The provisions of this Article XIII are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article XIII or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest oninterest, if any, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article XIII of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)13.3. The failure to make a payment on account of principal of, or (3) premium, if any, or interest, if any, on, or sinking funds, if any, in respect of any Securities of any series by reason of any provision of this Article XIII shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default with respect of the Securities of such series.

Appears in 3 contracts

Sources: Indenture (Ingersoll Rand Co), Indenture (Ingersoll Rand Co), Indenture (Ingersoll Rand Co)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.

Appears in 3 contracts

Sources: Seventh Supplemental Indenture (Penske Automotive Group, Inc.), Third Supplemental Indenture (Penske Automotive Group, Inc.), First Supplemental Indenture (Penske Automotive Group, Inc.)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of (and premium, if any, ) and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the express limitations set forth in Article Five and to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.21102, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31103, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2Section.

Appears in 3 contracts

Sources: Indenture (Southwestern Public Service Co), Indenture (Enron Capital Trust I), Indenture (Capita Preferred Trust)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of (and premium, if any, ) and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the express limitations set forth in Article Five and to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.21102, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.otherwise

Appears in 3 contracts

Sources: Indenture (Enron Capital Trust Ii), Indenture (Enron Capital Trust I), Indenture (Enron Preferred Funding Ii L P)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness of the Company on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (ai) impair, as among the Company, its creditors other than holders of Senior Indebtedness of the Company and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of (and premium, if any, ) and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (bii) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of Senior Indebtedness of the Senior IndebtednessCompany; or (ciii) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness of the Company (1a) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Proceeding referred to in Section 13.2, 1203 to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, Holder or (2) under the conditions specified in Section 13.31204, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1204(d), or (3) as specified in Section 5.2.

Appears in 2 contracts

Sources: Subordinated Indenture (Sonic Automotive Inc), Subordinated Indenture (Sonic Automotive 1495 Automall DR Columbus Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 10 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder. The failure to make a payment on account of principal of, (2) under the conditions specified in Section 13.3premium, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)if any, or (3) interest on, or any other amounts then payable with respect to, the Securities by any reason of this Article 10 shall not be construed as specified in preventing the occurrence of an Event of Default under Section 5.26.1.

Appears in 2 contracts

Sources: Supplemental Indenture (Integrated Health Services Inc), Indenture (Integrated Health Services Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities Securi- ties is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of (and premium, if any, ) and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rela- tive rights against the Company or of the Holders of the Securities Securi- ties and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted permit- ▇▇▇ by applicable law upon default under this Indenture, subject sub- ject to the express limitations set forth in Article Five and to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.21102, to receive, pursuant to and in accordance with such Section, cash, property and securities securi- ties otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31103, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2Section.

Appears in 2 contracts

Sources: Indenture (Western Resources Capital Ii), Indenture (Western Resources Inc /Ks)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21402, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31403, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1403(d), or (3) as specified in Section 5.2.

Appears in 2 contracts

Sources: Indenture (Penske Automotive Group, Inc.), Indenture (United Auto Group Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 10 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article 10 or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d10.03(c). The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 10 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 2 contracts

Sources: Indenture (Prime Succession Inc), Indenture (Rose Hills Co)

Provisions Solely to Define Relative Rights. The provisions of this Article 11 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.02 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)11.03(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 11 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 2 contracts

Sources: Indenture (MWC Acquisition Sub Inc), Indenture (Hayes Wheels International Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21402, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31403, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1403(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Exhibit (Sonic Automotive Clearwater Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the CompanyPublishing, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the CompanyPublishing, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or Publishing of the Holders of the Securities and creditors of the Company Publishing other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this 148 - 138 - Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Publishing referred to in Section 13.212.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.312.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d12.03(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Hollinger International Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 10 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities Notes is intended to or shall shall: (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, or Liquidated Damages with respect to, the Securities Notes as and when the same shall become due and payable in accordance with their terms; or or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior IndebtednessDebt; or or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.02 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)10.03(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on, or Liquidated Damages with respect to, the Notes by reason of any provision of this Article 10 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Cole National Corp /De/)

Provisions Solely to Define Relative Rights. The provisions of this Article IX are and are intended solely for the purpose of defining the relative rights of the Holders holders of the Securities Senior Subordinated Debt on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article IX or elsewhere in this Indenture Agreement or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness between any Borrower and the Holders of the SecuritiesLenders, the obligation of the Companyeach Borrower, which is absolute and unconditional, to pay to the Holders of the Securities Lenders the principal ofof and interest or premium (if any) on, and premium, if any, and interest onany other amount payable by the Borrowers under, the Securities Loans, the Notes or this Agreement or any other Loan Document as and when the same shall become due and payable in accordance with their respective terms; or (b) affect the relative rights against the Company or the Holders Borrowers of the Securities Lenders and creditors of the Company any Borrower (other than the holders of the Senior IndebtednessDebt); or (c) prevent the Trustee or the Holder of any Security Lenders from exercising all remedies otherwise permitted by applicable law upon default under this IndentureAgreement or any other Loan Document, subject to the rights, if any, under this Article rights of the holders of Senior Indebtedness Debt (1i) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, proceeding under any Debtor Relief Law to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such HolderLenders, (2ii) under the conditions specified in Section 13.39.03 hereof, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3iii) as under the conditions specified in Section 5.29.09 hereof, to prevent exercise of remedies prohibited by such Section.

Appears in 1 contract

Sources: Senior Subordinated Loan Agreement (Main Street Acquisition CORP)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, (including Contingent Cash Interest and Additional Interest) on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21202, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31203, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1203(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (WCHS Licensee LLC)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the CompanyPublishing, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the CompanyPublishing, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or Publishing of the Holders of the Securities and creditors of the Company Publishing other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Publishing referred to in Section 13.212.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.312.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d12.03(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Senior Subordinated Indenture (Hollinger International Publishing Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 11 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article 11 or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.02 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)11.03(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 11 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Entex Information Services Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21202, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: First Supplemental Indenture (Sonic Automotive Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article subsection (e) are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Debentures on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article subsection or elsewhere in this Indenture Debenture or in the Securities Debentures is intended to or shall (aA) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesDebentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Debentures the principal of, and premium, if any, Principal of and interest on, on the Securities Debentures as and when the same shall become due and payable in accordance with their terms; , or (bB) affect the relative rights against the Company or of the Holders of the Securities Debentures and creditors of the Company other than the holders of the Senior Indebtedness; Indebtedness or (cC) prevent the Trustee or the Holder of any Security Debenture from exercising all remedies otherwise permitted by applicable law upon a default or an event of default under this IndentureDebenture, subject to the rights, if any, under this Article subsection (e) of the holders of Senior Indebtedness (1) in any case, insolvency or bankruptcy case or proceeding, dissolutionor any receivership, liquidation liquidation, arrangement, reorganization or other winding similar case or proceeding in connection therewith, or any liquidation, dissolution or other winding-up, or any assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2clause (ii) hereof, to receive, pursuant to and in accordance with such Sectionclause, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.3, clause (iii) to prevent any payment prohibited by such Section clause or enforce their rights pursuant clause (iii)(c) hereof. The failure to Section 13.3(d), make a payment on account of principal of or interest on the Debentures by reason of any provision of this subsection (3e) shall not be construed as specified in Section 5.2preventing the occurrence of a default or an event of default hereunder.

Appears in 1 contract

Sources: Convertible Subordinated Debentures (Tmci Electronics Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article Fourteen are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article Fourteen or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation obligations of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest oninterest, if any, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee for the Securities of such series or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.21402, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the such Trustee or such Holder, or (2) under the conditions specified in Section 13.31403, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)1403. The failure to make a payment on account of principal of, or (3) premium, if any, or interest, if any, on, or sinking funds, if any, in respect of any Securities of any series by reason of any provision of this Article Fourteen shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default with respect of the Securities of such series.

Appears in 1 contract

Sources: Indenture (Ingersoll Rand Co LTD)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders Holders of Senior Indebtedness and the Holders holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21202, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31203, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1203(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Vencor Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article X are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness Indebtedness, (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.2 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)10.3(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Securities by reason of any provision of this Article X shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Lamar Advertising Co)

Provisions Solely to Define Relative Rights. The provisions of this Article are and 11 are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article 11 or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest (including Contingent Interest, if any) on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d11.03(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (United Auto Group Inc)

Provisions Solely to Define Relative Rights. The provisions of Sections 1416 through 1429 of this Article are and Indenture are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Guarantor Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Companyany Guarantor, its creditors other than holders of Guarantor Senior Indebtedness and the Holders of the Securities, the obligation of the Companysuch -169- 183 Guarantor, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against each of the Company or Guarantors of the Holders of the Securities and creditors of each of the Company Guarantors other than the holders of the Guarantor Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Guarantor Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Guarantors referred to in Section 13.21417, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31418, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1418(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Lower Road Associates LLC)

Provisions Solely to Define Relative Rights. The provisions of Sections 1416 through 1429 of this Article are and Indenture are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Guarantor Indebtedness on the other hand. Nothing contained in this Article Fourteen or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Companyany Guarantor, its creditors other than holders of Senior Guarantor Indebtedness and the Holders of the Securities, the obligation of the Companysuch Guarantor, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against each of the Company or Guarantors of the Holders of the Securities and creditors of each of the Company Guarantors other - 152 - than the holders of the Senior Guarantor Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article Fourteen of the holders of Senior Guarantor Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Guarantors referred to in Section 13.21417, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31418, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1418(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Exhibit (Brooks Pharmacy, Inc.)

Provisions Solely to Define Relative Rights. The provisions of this Article 10 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.02 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)10.03(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Securities by reason of any provision of this Article 10 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Capstar Broadcasting Partners Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 10 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article 10 or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 10 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.02, to receive, pursuant to and in accordance with such Sectionsection, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.03, to prevent any payment prohibited by such Section section or enforce their rights pursuant to Section 13.3(d10.03(c). The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 10 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Aavid Thermal Technologies Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article XVIII or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, Company and its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest interest, including Contingent Cash Interest, if any, on, the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company Company, other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XVIII of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.218.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.318.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d18.03(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: First Supplemental Indenture (Roper Industries Inc /De/)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21302, to receive, pursuant to and in accordance with such Section, cash, property 145 and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Exhibit (Tri R of Orlando Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the 128 holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Bally Total Fitness Holding Corp)

Provisions Solely to Define Relative Rights. The provisions of this Article 12 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article 12 or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesHolders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the any Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 12 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.212.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.312.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d12.03(c). The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 12 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Transportation Technologies Industries Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article Eleven are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article Eleven or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article Eleven of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling marshalling of assets and liabilities of the Company referred to in Section 13.211.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d11.03(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Telegroup Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21202, to receive, pursuant to and in accordance with such SectionSection 1202, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section 1303 or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Second Supplemental Indenture (Sonic Automotive Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article Ten are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article Ten or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article Ten of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.210.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.310.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d10.03(c). The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article Ten shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Telegroup Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article 9 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, of and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 9 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder. The failure to make a payment on account of principal of, (2) under the conditions specified in Section 13.3premium, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)if any, or (3) interest on, or any other amounts then payable with respect to, the Securities by any reason of this Article 9 shall not be construed as specified in preventing the occurrence of an Event of Default under Section 5.25.1.

Appears in 1 contract

Sources: Supplemental Indenture (Integrated Health Services Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.212.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.312.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d12.03(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Exhibit (Salem Communications Corp /De/)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.02, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d11.03(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Morgans Hotel Group Co.)

Provisions Solely to Define Relative Rights. The provisions of this Article XI are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture Agreement or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders 103 -96- of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this IndentureAgreement, subject to the rights, if any, under this Article XI of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.2 hereof, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)11.3(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article XI shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Note Purchase Agreement (Oglebay Norton Co)

Provisions Solely to Define Relative Rights. The provisions of this Article are and Section 11.6 are intended solely for the purpose of defining the relative rights of the Holders holders of the Securities Obligations on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article Section 11.6 or elsewhere in this Indenture Agreement or in the Securities Notes is intended to or shall (a) impair, as among the CompanyObligors, its their creditors other than holders of Senior Indebtedness and the Holders holders of the SecuritiesObligations, the obligation of the CompanyObligors, which is absolute and unconditional, to pay to the Holders holders of the Securities the principal of, and premium, if any, and interest on, the Securities Obligations as and when the same shall become due and payable in accordance with their its terms; or (b) affect the relative rights against the Company or the Holders Obligors of the Securities holders of the Obligations and creditors of the Company Borrower other than the holders of the Senior Indebtedness; or (c) prevent the Trustee Agent or the Holder holder of any Security Obligations from exercising all remedies otherwise permitted by applicable law upon default under this IndentureAgreement, subject to the rights, if any, under this Article Section 11.6 of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company Borrower referred to in Section 13.211.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee Agent or such Holderholder, or (2) under the conditions specified in Section 13.311.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d11.3(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Subordinated Term Loan Credit Agreement (Genmar Holdings Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Ninth Supplemental Indenture (Penske Automotive Group, Inc.)

Provisions Solely to Define Relative Rights. The provisions of this Article 11 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities Notes on the one hand and the holders of Senior Indebtedness Debt on the other hand. Nothing contained in this Article 11 or elsewhere in this Indenture or in the Securities Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness Debt and the Holders of the SecuritiesNotes, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities Notes the principal of, and premium, if any, and interest on, on the Securities Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities Notes and creditors of the Company other than the holders of the Senior IndebtednessDebt; or (c) prevent the Trustee or the Holder of any Security Note from exercising all remedies otherwise permitted by applicable law upon default a Default or an Event of Default under this Indenture, subject to the rights, if any, under this Article 11 of the holders of Senior Indebtedness Debt (1) in any case, proceeding, dissolution, liquidation or other winding winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.211.02 hereof, to receive, pursuant to and in accordance with such Section, cash, property Property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.311.03, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d)11.03(c) hereof. The failure to make a payment on account of principal of, premium, if any, or (3) interest on the Notes by reason of any provision of this Article 11 shall not be construed as specified in Section 5.2preventing the occurrence of a Default or an Event of Default hereunder.

Appears in 1 contract

Sources: Indenture (Paxson Communications Corp)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their 113 124 terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21302, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Titan Wheel International Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, of and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the express limitations set forth in Article Five and to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21102, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, (2) under the conditions specified in Section 13.3, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Rouse Company)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21402, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such Holder, or (2) under the conditions specified in Section 13.31303, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1303(d), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Exhibit (Autobahn Inc)

Provisions Solely to Define Relative Rights. The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any, and interest on, on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company or of the Holders of the Securities and creditors of the Company other than the holders of the Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness (1) in any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.21202, to receive, pursuant to and in accordance with such Section, cash, property and securities otherwise payable or deliverable to the Trustee or such 77 Holder, or (2) under the conditions specified in Section 13.31203, to prevent any payment prohibited by such Section or enforce their rights pursuant to Section 13.3(d1203(c), or (3) as specified in Section 5.2.

Appears in 1 contract

Sources: Indenture (Playtex Products Inc)