SUBORDINATION OF SECURITIES Clause Samples
The Subordination of Securities clause establishes that certain securities, such as bonds or notes, will have a lower priority for repayment compared to other specified debts in the event of liquidation or bankruptcy. In practice, this means that holders of subordinated securities will only receive payment after senior creditors have been fully satisfied, and the clause may outline specific conditions or types of senior debt to which subordination applies. This clause is essential for clarifying the order of payment among creditors, thereby managing risk and expectations for investors and facilitating the structuring of complex financing arrangements.
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SUBORDINATION OF SECURITIES. 57 SECTION 13.1. Securities Subordinate to Senior Indebtedness............................................... 57 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc...................................... 57 SECTION 13.3 Payment Permitted If No Default............................ 59 SECTION 13.4. Subrogation to Rights of Holders of Senior Indebtedness........................................ 59 SECTION 13.5. Provisions Solely to Define Relative Rights..................................................... 59 SECTION 13.6.
SUBORDINATION OF SECURITIES. SECTION 1201.
SUBORDINATION OF SECURITIES. SECTION 15.01.
SUBORDINATION OF SECURITIES. Section 1101
SUBORDINATION OF SECURITIES. 55 SECTION 15.01 Agreement to Subordinate..........................................................55 SECTION 15.02 Default on Senior Indebtedness....................................................55 SECTION 15.03
SUBORDINATION OF SECURITIES. Section 16.01 Securities Subordinate to Senior Debt......................................... 59
SUBORDINATION OF SECURITIES. 85 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.
SUBORDINATION OF SECURITIES. Securities Subordinate to Senior Debt.......................................123 SECTION 12.2 No Payments in Certain Circumstances; Payment Over of Proceeds Upon Dissolution, Etc..............................123 SECTION 12.3
SUBORDINATION OF SECURITIES. Section 1301.
SUBORDINATION OF SECURITIES. SECTION 13.1. Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 SECTION 13.4. No Payment When Senior Debt in Default. .....................................................66 SECTION 13.5. Payment Permitted If No Default. ............................................................67 SECTION 13.6. Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7. Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8.