Subordination and Priority. The indebtedness evidenced by this Debenture, including the principal and accrued interest, is expressly subordinate and subject in right of payment and upon liquidation to the prior payment in full of all "Senior Debt," whether now outstanding or hereafter created, incurred, assumed, or guaranteed.
Appears in 2 contracts
Sources: Convertible Subordinated Debenture Purchase Agreement (Rockford Corp), Convertible Subordinated Debenture Purchase Agreement (Bartol Timothy C)