Common use of SUBORDINATION OF SECURITIES Clause in Contracts

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.

SUBORDINATION OF SECURITIES. SECTION 13.165 Section 12.1. Securities Subordinate to Senior DebtIndebtedness. ......................................................64 SECTION 13.2........................ 65 Section 12.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3....................... 66 Section 12.3. Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ................................ 66 SECTION 13.4Section 12.4. No Payment When Specified Senior Debt Indebtedness in Default. .....................................................66 SECTION 13.5............. 67 Section 12.5. Payment Permitted If No Default. ............................................................67 SECTION 13.6...................................... 68 Section 12.6. Subrogation to Rights of Holders of Senior DebtIndebtedness. ............................................67 SECTION 13.7.............. 68 Section 12.7. Provisions Solely to Define Relative Rights. .......................................................................... 68 SECTION 13.8Section 12.8.

SUBORDINATION OF SECURITIES. SECTION 13.1. 55 Section 13.1 Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2. Indebtedness....................................55 Section 13.2 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3. ...................................55 Section 13.3 Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 SECTION 13.4. .............56 Section 13.4 No Payment When Senior Debt in Indebtedness Default. .....................................................66 SECTION 13.5. ......................................57 Section 13.5 Payment Permitted If if No Default. ............................................................67 SECTION 13.6. ..................................................57 Section 13.6 Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7. Indebtedness..........................58 Section 13.7 Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8.......................................58 Section 13.8 Trustee to Effectuate Subordination..............................................58 Section 13.9 No Waiver of Subordination Provisions............................................59 -iii- TABLE OF CONTENTS (continued)

SUBORDINATION OF SECURITIES. SECTION 13.1. Securities Subordinate to Senior Debt. ......................................................64 ...........................................60 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ..................................60 SECTION 13.3. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 ....................61 SECTION 13.4. No Payment When Senior Debt in Default. .....................................................66 ..........................................61 SECTION 13.5. Payment Permitted If No Default. ............................................................67 .................................................62 SECTION 13.6. Subrogation to Rights of Holders of Senior Debt. ............................................67 .................................62 SECTION 13.7. Provisions Solely to Define Relative Rights. ................................................68 .....................................62 SECTION 13.8.

SUBORDINATION OF SECURITIES. 56 SECTION 13.1. XVI.1 Securities Subordinate to Senior Debt. ......................................................64 Indebtedness........................................ 56 SECTION 13.2. XVI.2 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ....................................... 56 SECTION 13.3. Prior Payment to Senior Debt Upon XVI.3 Acceleration of Securities. ...............................66 ........................................................... 57 SECTION 13.4. No Payment When XVI.4 Default on Senior Debt in Default. .....................................................66 Indebtedness....................................................... 58 SECTION 13.5. XVI.5 Payment Permitted If No Default. ............................................................67 ...................................................... 58 SECTION 13.6. XVI.6 Subrogation to Rights of Holders of Senior Debt. ............................................67 Indebtedness.............................. 59 SECTION 13.7. XVI.7 Provisions Solely to Define Relative Rights. ................................................68 .......................................... 59 SECTION 13.8.XVI.8

SUBORDINATION OF SECURITIES. 73 SECTION 13.1. 13.1 Securities Subordinate to Senior Debt. ......................................................64 ...................................................73 SECTION 13.2. 13.2 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ............................................73 SECTION 13.3. 13.3 Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 ..............................75 SECTION 13.4. 13.4 No Payment When Senior Debt in Default. .....................................................66 ....................................................75 SECTION 13.5. 13.5 Payment Permitted If No Default. ............................................................67 ...........................................................76 SECTION 13.6. 13.6 Subrogation to Rights of Holders of Senior Debt. ............................................67 ...........................................77 SECTION 13.7. 13.7 Provisions Solely to Define Relative Rights. ................................................68 ...............................................77 SECTION 13.8.

SUBORDINATION OF SECURITIES. SECTION 13.1. 79 Section 16.01 Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2. Indebtedness....................................79 Section 16.02 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3. ...................................79 Section 16.03 Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 SECTION 13.4. .............80 Section 16.04 No Payment When Senior Debt Indebtedness in Default. .....................................................66 SECTION 13.5. ...................................80 Section 16.05 Payment Permitted If No Default. ............................................................67 SECTION 13.6. ..................................................81 Section 16.06 Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7. Indebtedness..........................81 Section 16.07 Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8.......................................82

SUBORDINATION OF SECURITIES. SECTION 13.11501. Securities Subordinate to Senior Debt. ......................................................64 .......................................... 71 SECTION 13.21502. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ................................. 71 SECTION 13.31503. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 ................... 72 SECTION 13.41504. No Payment When Senior Debt in Default. .....................................................66 ......................................... 73 SECTION 13.51505. Payment Permitted If No Default. ............................................................67 ................................................ 73 SECTION 13.61506. Subrogation to Rights of Holders of Senior Debt. ............................................67 ................................ 74 SECTION 13.71507. Provisions Solely to Define Relative Rights.................................... 74 SECTION 1508. ................................................68 Trustee to Effectuate Subordination............................................ 74 SECTION 13.8.1509. No Waiver of Subordination Provisions.......................................... 74 ix

SUBORDINATION OF SECURITIES. 58 SECTION 13.112.01. Securities Subordinate Subordinated to Senior Debt. ......................................................64 Indebtedness ...... 58 SECTION 13.212.02. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 etc ...... 59 SECTION 13.312.03. Prior Payment to Senior Debt Upon Indebtedness On Acceleration of Securities. ...............................66 Securities .......................... 60 SECTION 13.412.04. No Payment When Senior Debt Indebtedness in Default. .....................................................66 Default ...... 61 SECTION 13.512.05. Payment Permitted If No Default. ............................................................67 Default ..................... 62 SECTION 13.612.06. Subrogation to Rights of Holders of Senior Debt. ............................................67 Indebtedness ........................................ 63 SECTION 13.712.07. Provisions Solely to To Define Relative Rights. ................................................68 Rights ......... 63 SECTION 13.812.08.

SUBORDINATION OF SECURITIES. SECTION 13.1. 71 Section 16.01 Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2. Indebtedness........ 71 Section 16.02 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3. ....... 72 Section 16.03 Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 SECTION 13.4. ........................... 73 Section 16.04 No Payment When Senior Debt Indebtedness in Default. .....................................................66 SECTION 13.5. ....... 73 Section 16.05 Payment Permitted If No Default. ............................................................67 SECTION 13.6. ...................... 74 Section 16.06 Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7. Indebtedness......................................... 74 Section 16.07 Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8........... 74

SUBORDINATION OF SECURITIES. SECTION 13.114.01. Securities Subordinate to Senior Debt. ......................................................64 ......................................... 101 SECTION 13.214.02. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 etc............................. 101 SECTION 13.314.03. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 ................... 103 SECTION 13.414.04. No Payment When Senior Debt in Default. .....................................................66 ...................................... 104 SECTION 13.514.05. Payment Permitted If No Default. ............................................................67 ................ 105 SECTION 13.614.06. Subrogation to Rights of Holders of Senior Debt. ............................................67 .................................. 105 SECTION 13.714.07. Provisions Solely to Define Relative Rights. ................................................68 .............................. 106 SECTION 13.814.08.

SUBORDINATION OF SECURITIES. SECTION 75 Section 13.1. Securities Subordinate to Senior and Subordinated Debt. ......................................................64 SECTION ........................... 75 Section 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION ......................................... 75 Section 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities. ...............................66 SECTION ........ 76 Section 13.4. No Payment When Senior and Subordinated Debt in Default. .....................................................66 SECTION ............................. 77 Section 13.5. Payment Permitted If No Default. ............................................................67 SECTION ............. 78 Section 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt. ............................................67 SECTION ....................... 78 Section 13.7. Provisions Solely to Define Relative Rights. ................................................68 SECTION 79 Section 13.8.

SUBORDINATION OF SECURITIES. SECTION 13.162 Section 16.01. Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2Indebtedness................................... 62 Section 16.02. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3.................................. 62 Section 16.03. Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 SECTION 13.4............ 63 Section 16.04. No Payment When Senior Debt Indebtedness in Default. .....................................................66 SECTION 13.5.................................. 63 Section 16.05. Payment Permitted If No Default. ............................................................67 SECTION 13.6................................................. 64 Section 16.06. Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7Indebtedness......................... 64 Section 16.07. Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8...................................... 64

SUBORDINATION OF SECURITIES. 59 SECTION 13.112.01. Securities Subordinate Subordinated to Senior Debt. ......................................................64 Indebtedness.................59 SECTION 13.212.02. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 etc.................59 SECTION 13.312.03. Prior Payment to Senior Debt Upon Indebtedness On Acceleration of Securities. ...............................66 .....................................................61 SECTION 13.412.04. No Payment When Senior Debt Indebtedness in Default. .....................................................66 .................61 SECTION 13.512.05. Payment Permitted If No Default. ............................................................67 ................................63 SECTION 13.612.06. Subrogation to Rights of Holders of Senior Debt. ............................................67 Indebtedness........63 SECTION 13.712.07. Provisions Solely to To Define Relative Rights. ................................................68 ....................64 SECTION 13.812.08.

SUBORDINATION OF SECURITIES. SECTION 13.1. Securities Subordinate to Senior Debt. ......................................................64 .................... 65 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc. ........................................................ 65 SECTION 13.3. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................Securities ............................................... 66 SECTION 13.4. No Payment When Senior Debt in Default. .....................................................66 ................... 67 SECTION 13.5. Payment Permitted If No Default. ...................................................................................... 67 SECTION 13.6. Subrogation to Rights of Holders of Senior Debt. ............................................67 .......... 68 SECTION 13.7. Provisions Solely to Define Relative Rights. .............................................................. 68 SECTION 13.8.

SUBORDINATION OF SECURITIES. 52 SECTION 13.1. Securities Subordinate to Senior Debt. ......................................................64 ........................... 52 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 .................. 52 SECTION 13.3. Prior Payment to Senior Debt Upon Acceleration of SecuritiesDissolution, Etc. ...............................66 .............. 53 SECTION 13.4. No Payment When Senior Debt in Default. .....................................................66 .......................... 54 SECTION 13.5. Payment Permitted If No Default. ............................................................67 ................................. 54 SECTION 13.6. Subrogation to Rights of Holders of Senior Debt. ............................................67 ................. 54 SECTION 13.7. Provisions Solely to Define Relative Rights. ................................................68 ..................... 55 SECTION 13.8.

SUBORDINATION OF SECURITIES. SECTION 13.1. 13.1 Securities Subordinate to Senior Debt. ......................................................64 ....................................................... 102 SECTION 13.2. 13.2 No Payment in Certain Circumstances, Payment Over of Proceeds Upon upon Dissolution, Etc. .............................................65 ......... 102 SECTION 13.3. 13.3 Prior Payment to Senior Debt Upon upon Acceleration of Securities. ...............................66 ................................ 105 SECTION 13.4. No Payment When Senior Debt in Default. .....................................................66 SECTION 13.5. 13.4 Payment Permitted If if No Default. ............................................................67 ............................................................. 105 SECTION 13.6. 13.5 Subrogation to Rights of Holders of Senior Debt. ............................................67 ............................................. 105 SECTION 13.7. 13.6 Provisions Solely to Define Relative Rights. ................................................68 ................................................. 106 SECTION 13.8.13.7

SUBORDINATION OF SECURITIES. 74 SECTION 13.1. 12.01 Securities Subordinate Subordinated to Senior Debt. ......................................................64 Indebtedness..........74 SECTION 13.2. 12.02 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ..........74 SECTION 13.3. 12.03 Prior Payment to Senior Debt Upon Indebtedness upon Acceleration of Securities. ...............................66 .......................76 SECTION 13.4. 12.04 No Payment When Senior Debt Indebtedness in Default. .....................................................66 ..........76 SECTION 13.5. 12.05 Payment Permitted If No Default. ............................................................67 .........................78 SECTION 13.6. 12.06 Subrogation to Rights of Holders of Senior Debt. ............................................67 Indebtedness.....................................78 SECTION 13.7. 12.07 Provisions Solely to Define Relative Rights. ................................................68 .............79 SECTION 13.8.12.08

SUBORDINATION OF SECURITIES. SECTION 63 Section 13.1. Securities Subordinate to Senior and Subordinated Debt. ......................................................64 SECTION 63 Section 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION ......... 63 Section 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities. ...............................66 SECTION ............................. 64 Section 13.4. No Payment When Senior and Subordinated Debt in Default. .....................................................66 SECTION ................................................ 64 Section 13.5. Payment Permitted If No Default. ............................................................67 SECTION ........................ 65 Section 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt. ............................................67 SECTION ...................................... 65 Section 13.7. Provisions Solely to Define Relative Rights. ................................................68 SECTION ............ 66 Section 13.8.

SUBORDINATION OF SECURITIES. 76 SECTION 13.112.1. Securities Subordinate to Senior DebtIndebtedness. ......................................................64 ........ 76 SECTION 13.212.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ....... 76 SECTION 13.312.3. Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 ............................. 77 SECTION 13.412.4. No Payment When Senior Debt Indebtedness in Default. .....................................................66 ....... 78 SECTION 13.512.5. Payment Permitted If No Default. ............................................................67 ...................... 79 SECTION 13.612.6. Subrogation to Rights of Holders of Senior Debt. ............................................67 Indebtedness........................................... 79 SECTION 13.712.7. Provisions Solely to Define Relative Rights. ................................................68 .......... 79 SECTION 13.812.8.

SUBORDINATION OF SECURITIES. SECTION 13.114.01. Securities Subordinate to Senior Debt. ......................................................64 ...........................76 SECTION 13.214.02. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 ..................77 SECTION 13.314.03. Prior Payment to Senior Debt Upon Acceleration of Securities. ...............................66 ....78 SECTION 13.414.04. No Payment When Senior Debt in Default. .....................................................66 ..........................79 SECTION 13.514.05. Payment Permitted If No Default. ............................................................67 .................................79 SECTION 13.614.06. Subrogation to Rights of Holders of Senior Debt. ............................................67 .................80 SECTION 13.714.07. Provisions Solely to Define Relative Rights. ................................................68 .....................80 SECTION 13.814.08.

SUBORDINATION OF SECURITIES. SECTION 65 Section 13.1. Securities Subordinate to Senior and Subordinated Debt. ......................................................64 SECTION ..65 Section 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .......................................................65 SECTION Section 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities. .............................................................66 SECTION Section 13.4. No Payment When Senior and Subordinated Debt in Default. .....................................................66 SECTION Default.67 Section 13.5. Payment Permitted If No Default. .....................................................................................67 SECTION Section 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt. ............................................67 SECTION .......................................68 Section 13.7. Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8..............68

SUBORDINATION OF SECURITIES. SECTION 52 Section 13.1. Securities Subordinate to Senior and Subordinated Debt. ......................................................64 SECTION ................................52 Section 13.2. Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION ........................................53 Section 13.3. Prior Payment to Senior and Subordinated Debt Upon Acceleration of Securities. ...............................66 SECTION .........53 Section 13.4. No Payment When Senior and Subordinated Debt in Default. .....................................................66 SECTION ...............................54 Section 13.5. Payment Permitted If No Default. ............................................................67 SECTION .......................................................54 Section 13.6. Subrogation to Rights of Holders of Senior and Subordinated Debt. ............................................67 SECTION ......................55 Section 13.7. Provisions Solely to Define Relative Rights. ................................................68 SECTION ...........................................55 Section 13.8.

SUBORDINATION OF SECURITIES. SECTION 13.1. 72 Section 15.01 Securities Subordinate to Senior Debt. ......................................................64 SECTION 13.2. Indebtedness......... 72 Section 15.02 Payment Over of Proceeds Upon Dissolution, Etc. .............................................65 SECTION 13.3. ........ 72 Section 15.03 Prior Payment to Senior Debt Indebtedness Upon Acceleration of Securities. ...............................66 SECTION 13.4. ...................................... 73 Section 15.04 No Payment When Senior Debt Indebtedness in Default. .....................................................66 SECTION 13.5. ........ 74 Section 15.05 Payment Permitted If No Default. ............................................................67 SECTION 13.6. ....................... 74 Section 15.06 Subrogation to Rights of Holders of Senior Debt. ............................................67 SECTION 13.7. Indebtedness....................................... 74 Section 15.07 Provisions Solely to Define Relative Rights. ................................................68 SECTION 13.8............ 75 Section 15.08