Common use of Subordination May Not Be Impaired by Guarantor Clause in Contracts

Subordination May Not Be Impaired by Guarantor. (a) No right of any holder of Senior Indebtedness of any Guarantor to enforce the subordination of the Guarantor Obligations shall be impaired by any act or failure to act by such Guarantor or by its failure to comply with this Indenture. (b) Without in any way limiting the generality of subsection (a) of this Section, the holders of Senior Indebtedness of a Guarantor may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Holders and without impairing or releasing the subordination provided in this Article or the obligations hereunder of the Holders to the holders of Senior Indebtedness of a Guarantor, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, the terms of Senior Indebtedness of a Guarantor or the terms of any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding (including any increase in the aggregate principal amount of any indebtedness thereunder, it being understood that any such additional indebtedness shall not constitute Senior Indebtedness to the extent Incurred in violation of Section 4.05 of this Indenture); (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior Indebtedness; (iii) release any Person liable in any manner for the collection of such Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against a Guarantor and/or any other Person. (c) If the Trustee on behalf of the Holders or any Holders should fail to file a proof of claim in any bankruptcy, insolvency, receivership or similar proceeding relating to a Guarantor at least 30 days before the expiration of the time to file such claim or claims, each holder of Senior Indebtedness of a Guarantor (or its representative) is hereby authorized to file an appropriate claim for and on behalf of all or any of the Holders.

Subordination May Not Be Impaired by Guarantor. (a) No right of any holder of Guarantor Senior Indebtedness of any Guarantor Debt to enforce the subordination of the Guarantor Obligations evidenced by the Note Guarantee shall be impaired by any act or failure to act by such the Guarantor or any Holder or by its the failure of the Guarantor or any Holder to comply with this Indenture. (b) . Without in any way limiting the generality of subsection (a) of this Sectionthe foregoing paragraph, the holders of Guarantor Senior Indebtedness Debt, or any of a Guarantor them, may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility any liabilities to the Holders any Holder and without impairing or releasing the subordination and other benefits provided in this Article Indenture or the obligations hereunder of the Holders to the holders of the Guarantor Senior Indebtedness Debt, even if any right of a Guarantorreimbursement or subrogation or other right or remedy of any Holder is affected, impaired or extinguished thereby, do any one or more of the following: (i1) change the manner, place or terms of payment or change or extend the time of payment of, or renew renew, exchange, amend, increase or alter, the terms of any Guarantor Senior Indebtedness Debt, any security therefor or guaranty thereof or any liability of a any obligor thereon (including any guarantor) to such holder, or any liability incurred directly or indirectly in respect thereof or otherwise amend, renew, exchange, extend, modify, increase or supplement in any manner any Guarantor Senior Debt or the terms of any instrument evidencing or guaranteeing or securing the same or any agreement under which such Guarantor Senior Indebtedness Debt is outstanding (including any increase in the aggregate principal amount of any indebtedness thereunder, it being understood that any such additional indebtedness shall not constitute Senior Indebtedness to the extent Incurred in violation of Section 4.05 of this Indenture)outstanding; (ii2) sell, exchange, release release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any property pledged, mortgaged or otherwise securing Guarantor Senior Debt or any liability of any obligor thereon, to such Senior Indebtednessholder, or any liability incurred directly or indirectly in respect thereof; (iii3) release settle or compromise any Person liable Guarantor Senior Debt or any other liability of any obligor of the Guarantor Senior Debt to such holder or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including, without limitation, Guarantor Senior Debt) in any manner for the collection of such Senior Indebtednessor order; and (iv4) fail to take or to record or to otherwise perfect, for any reason or for no reason, any lien or security interest securing Guarantor Senior Debt by whomsoever granted, exercise or delay in or refrain from exercising any rights right or remedy against a Guarantor and/or any obligor or any guarantor or any other Person. (c) If person, elect any remedy and otherwise deal freely with any obligor and any security for the Trustee on behalf of the Holders Guarantor Senior Debt or any Holders should fail liability of any obligor to file a proof of claim in any bankruptcy, insolvency, receivership or similar proceeding relating to a Guarantor at least 30 days before the expiration of the time to file such claim or claims, each holder of Senior Indebtedness of a Guarantor (or its representative) is hereby authorized to file an appropriate claim for and on behalf of all or any of the Holdersliability incurred directly or indirectly in respect thereof.

Subordination May Not Be Impaired by Guarantor. (a) No right of any holder of Senior Indebtedness Debt of any Guarantor to enforce the subordination of the Guarantor Obligations Indebtedness evidenced by the Subsidiary Guarantees shall be impaired by any act or failure to act by such Guarantor or any Holder or by its the failure of such Guarantor or any Holder to comply with this Indenture. (b) . Without in any way limiting the generality of subsection (a) of this Sectionthe foregoing paragraph, the holders of Senior Indebtedness Debt of a Guarantor any Guarantor, or any of them, may, at any time and from time to time, without the consent of or notice to the Trustee or Holders of the HoldersSubsidiary Guarantees, without incurring responsibility any liabilities to the Holders any Holder of any Subsidiary Guarantees and without impairing or releasing the subordination and other benefits provided in this Article Indenture or the obligations hereunder of the Holders of the Subsidiary Guarantees to the holders of the Senior Indebtedness Debt of a such Guarantor, even if any right of reimbursement or subrogation or other right or remedy of any Holder of Subsidiary Guarantees is affected, impaired or extinguished thereby, do any one or more of the following: (ia) change the manner, place or terms of payment or change or extend the time of payment of, or renew renew, exchange, amend, increase or alter, the terms of any Senior Indebtedness Debt, any security therefor or guaranty thereof or any liability of a Guarantor any obligor thereon (including any guarantor) to such holder, or the terms of any liability incurred directly or indirectly in respect thereof or otherwise amend, renew, exchange, extend, modify, increase or supplement in any manner any Senior Debt or any instrument evidencing or guaranteeing or securing the same or any agreement under which such Senior Indebtedness Debt is outstanding (including any increase in the aggregate principal amount of any indebtedness thereunder, it being understood that any such additional indebtedness shall not constitute Senior Indebtedness to the extent Incurred in violation of Section 4.05 of this Indenture)outstanding; (iib) sell, exchange, release release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any property pledged, mortgaged or otherwise securing Senior Debt or any liability of any obligor thereon, to such Senior Indebtednessholder, or any liability incurred directly or indirectly in respect thereof; (iiic) release settle or compromise any Person liable Senior Debt or any other liability of any obligor of the Senior Debt to such holder or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including, without limitation, Senior Debt) in any manner for the collection of such Senior Indebtednessor order; and (ivd) fail to take or to record or to otherwise perfect, for any reason or for no reason, any lien or security interest securing Senior Debt by whomsoever granted, exercise or delay in or refrain from exercising any rights right or remedy against a Guarantor and/or any obligor or any guarantor or any other Person. (c) If person, elect any remedy and otherwise deal freely with any obligor and any security for the Trustee on behalf of the Holders Senior Debt or any Holders should fail liability of any obligor to file a proof of claim in any bankruptcy, insolvency, receivership or similar proceeding relating to a Guarantor at least 30 days before the expiration of the time to file such claim or claims, each holder of Senior Indebtedness of a Guarantor (or its representative) is hereby authorized to file an appropriate claim for and on behalf of all or any of the Holdersliability incurred directly or indirectly in respect thereof.

Subordination May Not Be Impaired by Guarantor. (a) No right of any holder of Senior Indebtedness Obligations of any Guarantor to enforce the subordination of the Guarantor Obligations shall be impaired by any act or failure to act by such Guarantor or by its failure to comply with this Indenture. (b) Without in any way limiting the generality of subsection (a) of this Section, the holders of Senior Indebtedness Obligations of a Guarantor may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Holders and without impairing or releasing the subordination provided in this Article or the obligations hereunder of the Holders to the holders of Senior Indebtedness Obligations of a Guarantor, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, the terms of Senior Indebtedness Obligations of a Guarantor or the terms of any instrument evidencing the same or any agreement under which such Senior Indebtedness is Obligations are outstanding (including any increase in the aggregate principal amount of any indebtedness thereunder, it being understood that any such additional indebtedness shall not constitute Senior Indebtedness Obligations to the extent Incurred in violation of Section 4.05 of this Indenture); (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior IndebtednessObligations; (iii) release any Person liable in any manner for the collection of such Senior IndebtednessObligations; and (iv) exercise or refrain from exercising any rights against a Guarantor and/or any other Person. (c) If the Trustee on behalf of the Holders or any Holders should fail to file a proof of claim in any bankruptcy, insolvency, receivership or similar proceeding relating to a Guarantor at least 30 days before the expiration of the time to file such claim or claims, each holder of Senior Indebtedness Obligations of a Guarantor (or its representative) is hereby authorized to file an appropriate claim for and on behalf of all or any of the Holders.