Common use of Ranking and Subordination Clause in Contracts

Ranking and Subordination. The Notes will be general unsecured ------------------------- obligations of the Company and will rank in all respects pari passu with all ---------- other senior subordinated Indebtedness of the Company. The Notes will rank senior to all existing and future Indebtedness of the Company that is neither Senior Indebtedness nor Senior Subordinated Indebtedness and only Indebtedness of the Company that is Senior Indebtedness shall rank senior to the Notes in accordance with the Indenture. The Notes are subordinated to Senior Indebtedness (as defined in the Indenture). To the extent provided in the Indenture, Senior Indebtedness must be paid before the Notes may be paid by the Company. The Company agrees, and each Holder by accepting a Note agrees, to the subordination provisions contained in the Indenture and authorizes the Trustee to give effect to such provisions, and each Holder appoints the Trustee his attorney-in-fact for any and all such purposes.

Ranking and Subordination. The Notes will be general unsecured ------------------------- obligations of the Company and will rank in all respects pari passu with all ---------- other senior subordinated Indebtedness of the Company. The Notes will rank senior to all existing and future Indebtedness of the Company that is neither Senior Indebtedness nor Senior Subordinated Indebtedness and only Indebtedness of the Company that is Senior Indebtedness shall rank senior to the Notes in accordance with the Indenture. The Notes are subordinated to Senior Indebtedness (as defined in the Indenture). To the extent provided in the Indenture, Senior Indebtedness must be paid before the Notes may be paid by the Company. The Company agrees, and each Holder by accepting a Note agrees, to the subordination provisions contained in the Indenture and authorizes the Trustee to give effect to such provisions, and each Holder appoints the Trustee his attorney-in-fact for any and all such purposes.