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

Subordination May Not Be Impaired by Subsidiary Guarantor. No right of any holder of Senior Indebtedness of any Subsidiary Guarantor to enforce the subordination of the Obligation of such Subsidiary Guarantor shall be impaired by any act or failure to act by such Subsidiary Guarantor or by its failure to comply with the Indenture.

Appears in 1 contract

Sources: First Supplemental Indenture (Swift Energy Co)

Subordination May Not Be Impaired by Subsidiary Guarantor. No right of any holder of Senior Indebtedness of any Subsidiary Guarantor to enforce the subordination of the Obligation Guaranteed Obligations of such Subsidiary Guarantor shall be impaired by any act or failure to act by such Subsidiary Guarantor or by its failure to comply with the this Indenture.

Appears in 1 contract

Sources: Indenture (Denbury Resources Inc)

Subordination May Not Be Impaired by Subsidiary Guarantor. No right of any holder of Senior Priority Indebtedness of any Subsidiary Guarantor to enforce the subordination of the Obligation of such Subsidiary Guarantor Obligations shall be impaired by any act or failure to act by such a Subsidiary Guarantor or by its failure to comply with the this Indenture.

Appears in 1 contract

Sources: Indenture (McClatchy Co)