Common use of Subordination of Note Guarantee Clause in Contracts

Subordination of Note Guarantee. The obligations of each Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full of the Guarantor Senior Debt of such Guarantor in cash or cash equivalents on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article X hereof.

Subordination of Note Guarantee. The obligations Obligations of each Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full Guarantee of the Guarantor any Senior Debt of such Guarantor in cash or cash equivalents on the same basis as the Notes are junior and subordinated to Senior Debt of the IssuerCompany. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article X hereof.

Subordination of Note Guarantee. The obligations of each Guarantor under its Note Guarantee pursuant to this Article XI shall be junior and subordinated to the prior payment in full Guarantee of the Guarantor any Senior Debt of such Guarantor in cash or cash equivalents on the same basis as the Notes are junior and subordinated to Senior Debt of the Issuer. For the purposes of the foregoing sentence, the Trustee and the Holders shall have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or retain payments in respect of the Notes pursuant to this Indenture, including Article X hereof.