Common use of SUBORDINATION OF SECURITIES Clause in Contracts

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. 85 SECTION 13.1. 87 Section 15.1 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. No Payment When Senior Indebtedness in Default; ............................................ 87 Section 15.2 Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. ........................................ 88 Section 15.3 Prior Payment to Senior Indebtedness Upon Acceleration of Securities.............................. 89 Section 15.4 No Payment When Senior Indebtedness in Default................................................. 89 Section 15.5 Payment Permitted if no 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.......................... 90

SUBORDINATION OF SECURITIES. 85 SECTION 13.113.01. Securities Subordinate Agreement to Senior Indebtedness.............................. 85 Subordinate.................................. 73 SECTION 13.213.02. No Payment When on Securities if Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ................................................ 73 SECTION 13.313.03. Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation to Rights of Holders Priority of Senior Indebtedness....................... 88 ........................... 74 SECTION 13.513.04. Provisions Solely Company to Define Relative Rights.................................... 89 Give Notice of Certain Events; Reliance by Trustee................................................ 75 SECTION 13.613.05.

SUBORDINATION OF SECURITIES. 85 101 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 ........................................101 SECTION 13.2. Payment Over of Proceeds Upon Dissolution, Etc.......................................101 SECTION 13.3. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 .......................................102 SECTION 13.313.4. Payment Permitted if no If No Default........... 88 ......................................................103 SECTION 13.413.5. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ..............................103 SECTION 13.513.6. Provisions Solely to Define Relative Rights.................................... 89 ..........................................103 SECTION 13.613.7.

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 86 Section 12.01 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. No Payment When Senior Indebtedness in Default; .................................................. 86 Section 12.02 Payment Over of Proceeds Upon Dissolution, Etc..................... etc ................................................. 86 SECTION 13.3. Section 12.03 Suspension of Payment When Senior Indebtedness in Default ...................................... 87 Section 12.04 Payment Permitted if no Default........... No Default ................................................................ 88 SECTION 13.4. Section 12.05 Subrogation to Rights of Holders of Senior Indebtedness....................... Indebtedness ........................................ 88 SECTION 13.5. Section 12.06 Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Rights .................................................... 88 Section 12.07

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 ............................................ 82 SECTION 13.212.02. Payment Over of Proceeds Upon Dissolution, Etc. ...................................... 82 SECTION 12.03. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 .............................................. 84 SECTION 13.312.04. Payment Permitted if no If No Default........... 88 ........................... 85 SECTION 13.412.05. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ..................................... 86 SECTION 13.512.06. Provisions Solely to To Define Relative Rights.................................... 89 .................................................. 86 SECTION 13.612.07.

SUBORDINATION OF SECURITIES. 85 67 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 .........................................67 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ......................................................................68 SECTION 13.3. Payment Permitted if no If No Default........... 88 .......................................................70 SECTION 13.4. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ; Etc..........................70 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6............................................70

SUBORDINATION OF SECURITIES. 85 75 SECTION 13.11201. Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 ........ 75 SECTION 13.21202. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ........ 75 SECTION 13.31203. Prior Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation to Rights Senior Indebtedness upon Acceleration of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Securities............................ 76

SUBORDINATION OF SECURITIES. 85 69 SECTION 13.11201. Securities Agreement to Subordinate to Senior Indebtedness.............................. 85 ................................................... 69 SECTION 13.21202. No Payment When Default on Senior Indebtedness in Default............................................. 69 SECTION 1203. Liquidation; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ; Bankruptcy ....................................... 70 SECTION 13.3. Payment Permitted if no Default........... 88 SECTION 13.41204. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6................................................................. 71

SUBORDINATION OF SECURITIES. 85 SECTION 13.113.01. Securities Subordinate to Senior Indebtedness.............................. 85 .................64 SECTION 13.213.02. Payment over of Proceeds Upon Dissolution, Etc. of the Issuer........................................................64 SECTION 13.03. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 Default in Payment.......................................................65 SECTION 13.313.04. Payment Permitted if no If No Default........... 88 ...............................65 SECTION 13.413.05. 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. 85 SECTION 13.14.01. Securities Subordinate to Senior Indebtedness.............................. 85 ................................................. 24 SECTION 13.24.02. No Payment over of Proceeds upon Dissolution, etc................................................ 24 SECTION 4.03. Suspension of Payment When Designated Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 .......................... 25 SECTION 13.34.04. Payment Permitted if no If No Default........... 88 ............................................................... 26 SECTION 13.44.05. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ....................................... 26 SECTION 13.54.06. Provisions Solely to Define Relative Rights.................................... 89 ................................................... 27 SECTION 13.64.07.

SUBORDINATION OF SECURITIES. 85 SECTION 13.112.01. Securities Subordinate to Senior Indebtedness.............................. 85 ..................................132 SECTION 13.212.02. No Payment of Proceeds Upon Dissolution, etc......................................133 SECTION 12.03. Suspension of Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ......................135 SECTION 13.312.04. Payment Permitted if no No Default........... 88 ................................................136 SECTION 13.412.05. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ........................137 SECTION 13.512.06. Provisions Solely to Define Relative Rights.................................... 89 ....................................137 SECTION 13.612.07.

SUBORDINATION OF SECURITIES. 85 76 SECTION 13.112.01. Securities Subordinate Agreement to Subordinate................................... 76 SECTION 12.02. Default on Senior Indebtedness.............................. 85 ............................. 76 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 13.612.03.

SUBORDINATION OF SECURITIES. 85 SECTION 58 Section 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 SECTION ................................................58 Section 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION ..........................................................................58 Section 13.3. Payment Permitted if no No Default........... 88 SECTION ..............................................................59 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. 85 SECTION 13.1. 105 Section 14.1 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. No ................................... 105 Section 14.2 Payment over of Proceeds upon Dissolution, etc.................................. 105 Section 14.3 Suspension of Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. ....................... 106 Section 14.4 Payment Permitted if no If No Default........... 88 SECTION 13.4. ................................................. 107 Section 14.5 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. ......................... 107 Section 14.6 Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6...................................... 108 Section 14.7

SUBORDINATION OF SECURITIES. 85 SECTION Section 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 SECTION .................84 Section 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... etc................84 Section 13.3. Suspension of Payment When Designated Senior Indebtedness in Default....................................................86 SECTION 13.3Section 13.4. Payment Permitted if no No Default........... 88 SECTION 13.4...............................87 Section 13.5. 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. 85 SECTION 13.112.01. Securities Subordinate to Senior Indebtedness............................... 63 SECTION 12.02. Payment over of Proceeds upon Dissolution, Etc.............................. 85 63 SECTION 13.212.03. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ...............................64 SECTION 13.312.04. Payment Permitted if no If No Default........... 88 ............................................. 64 SECTION 13.412.05. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ..................... 64 SECTION 13.512.06. Provisions Solely to Define Relative Rights.................................... 89 Rights ................................ 65 SECTION 13.612.07.

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 82 Section 15.01 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. ............................................... 83 Section 15.02 Payment over of Proceeds upon Dissolution, Etc.............................................. 83 Section 15.03 No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. .............................................. 84 Section 15.04 Payment Permitted if no No Default........... 88 SECTION 13.4. ............................................................. 84 Section 15.05 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. ..................................... 85 Section 15.06 Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.................................................. 85

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 ........................................................... 71 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ............................................................................. 71 SECTION 13.3. Payment Permitted if no If No Default........... 88 ......................................................................... 73 SECTION 13.4. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ................................................. 74 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 ............................................................. 74 SECTION 13.6.

SUBORDINATION OF SECURITIES. 85 SECTION 13.14.01. Securities Subordinate to Senior Indebtedness.............................. 85 .................................................. 23 SECTION 13.24.02. No Payment over of Proceeds upon Dissolution, etc................................................. 23 SECTION 4.03. Suspension of Payment When Designated Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ........................... 25 SECTION 13.34.04. Payment Permitted if no If No Default........... 88 ................................................................ 26 SECTION 13.44.05. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ........................................ 26 SECTION 13.54.06. Provisions Solely to Define Relative Rights.................................... 89 .................................................... 26 SECTION 13.64.07.

SUBORDINATION OF SECURITIES. 85 73 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 .........................................73 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ......................................................................73 SECTION 13.3. Payment Permitted if no If No Default........... 88 .......................................................75 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.; Etc..........................75

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 13.1 Securities Subordinate to Senior Indebtedness.............................. 85 ......................................106 SECTION 13.2. No 13.2 Payment Over of Proceeds upon Dissolution, etc.....................................107 SECTION 13.3 Suspension of Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ..........................108 SECTION 13.3. Payment Permitted if no Default........... 88 13.4 Trustee's Relation to Senior Indebtedness..........................................110 SECTION 13.4. 13.5 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 ............................110 SECTION 13.5. 13.6 Provisions Solely to To Define Relative Rights.................................... 89 ........................................111 SECTION 13.6.13.7

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 55 Section 1401 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. No Payment When Senior Indebtedness in Default; Debt.............................................55 Section 1402 Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. ....................................55 Section 1403 No Payment When Senior Debt in Default............................................56 Section 1404 Payment Permitted if no If No Default........... 88 SECTION 13.4. ...................................................57 Section 1405 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Debt...................................58 Table of Contents (continued)

SUBORDINATION OF SECURITIES. 85 64 SECTION 13.1. 12.01 Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 ........... 64 SECTION 13.2. No Payment When Senior Indebtedness in Default; 12.02 Payment Over of Proceeds Upon Dissolution, Etc..................... 86 ........... 64 SECTION 13.3. 12.03 Acceleration of Securities............................... 65 SECTION 12.04 No Payment Permitted if no When Senior Indebtedness in Default........... 88 66 SECTION 13.4. 12.05 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 .. 67 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 12.06 Obligations of the Company Unconditional................. 68 SECTION 13.6.12.07

SUBORDINATION OF SECURITIES. 85 69 SECTION 13.114.1. Securities Debentures Subordinate to Senior Indebtedness.............................. 85 .....................................69 SECTION 13.214.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 etc....................................69 SECTION 13.314.3. Prior Payment to Senior Indebtedness Upon Acceleration of Debentures..............70 SECTION 14.4. No Payment when Senior Indebtedness in Default....................................71 SECTION 14.5. 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....................................................71

SUBORDINATION OF SECURITIES. 85 SECTION 13.1Section 1301. Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2...............................132 Section 1302. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3etc..............................133 Section 1303. Suspension of Payment When Designated Senior Indebtedness in Default..................................................134 Section 1304. Payment Permitted if no No Default........... 88 SECTION 13.4.............................................136 Section 1305. Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6......................136

SUBORDINATION OF SECURITIES. 85 64 SECTION 13.11201. Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 ......................................64 SECTION 13.21202. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 .....64 SECTION 13.31203. Prior Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation to Rights Senior Indebtedness upon Acceleration of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Securities..........................

SUBORDINATION OF SECURITIES. 85 45 SECTION 13.1. 14.1 Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 ........... 45 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over 14.2 Subrogation.............................................. 46 SECTION 14.3 Obligation of Proceeds Upon Dissolution, Etc..................... 86 the Company Unconditional.................. 47 SECTION 13.3. Payment Permitted if no Default........... 88 14.4 Payments on Securities Permitted......................... 47 SECTION 13.4. Subrogation to Rights 14.5 Effectuation of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Subordination by Trustee................. 47 v. 7

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 105 Section 14.1 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2...................................................105 Section 14.2 Payment over of Proceeds upon Dissolution, etc. No ................................................106 Section 14.3 Suspension of Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. .......................................107 Section 14.4 Payment Permitted if no If No Default........... 88 SECTION 13.4. .................................................................108 Section 14.5 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. .........................................108 Section 14.6 Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6......................................................108 Section 14.7

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 59 Section 13.1 Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 SECTION 13.2. No Indebtedness ......... 59 Section 13.2 Company Not to Make Payments with Respect to Securities in Certain Circumstances; Limitations on Acceleration of Securities .................................... 59 Section 13.3 Securities Subordinated to Prior Payment When of All Senior Indebtedness in Default; Payment Over of Proceeds Upon on Dissolution, Etc..................... 86 SECTION 13.3. Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation to Rights Liquidation or Reorganization of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.the Company ................................. 62

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. Securities Subordinate to Senior Indebtedness.............................. 85 .................................. 102 SECTION 13.212.02. Payment Over of Proceeds Upon Dissolution, Etc. ............................ 102 SECTION 12.03. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 .................................... 104 SECTION 13.312.04. Payment Permitted if no 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.................. 104 Contents, p. vii

SUBORDINATION OF SECURITIES. 85 SECTION 13.110.01. Securities Subordinate Subordinated to Senior Indebtedness.............................. 85 Debt........................................ 83 SECTION 13.210.02. No Suspension of Payment When Senior Indebtedness Debt Is in Default; .......................... 83 SECTION 10.03. Securities Subordinated to Prior Payment Over of Proceeds Upon All Senior Debt on Dissolution, Etc..................... 86 Liquidation or Reorganization of Company.................................................... 85 SECTION 13.310.04. Payment Permitted if no Default........... 88 SECTION 13.4. Subrogation Payments May Be Paid Prior to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6.Dissolution..................................... 87

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. 83 Section 15.01 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. .............................................83 Section 15.02 Payment over of Proceeds upon Dissolution, Etc............................................83 Section 15.03 No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. ............................................84 Section 15.04 Payment Permitted if no No Default........... 88 SECTION 13.4. ...........................................................85 Section 15.05 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. Provisions Solely to Define Relative Rights.................................... 89 SECTION 13.6....................................85

SUBORDINATION OF SECURITIES. 85 SECTION 13.1. Section 13.1 Securities Subordinate to Senior Indebtedness.............................. 85 SECTION 13.2. .................................... 74 Section 13.2 No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc..................... 86 SECTION 13.3. .............................................. 74 Section 13.3 Payment Permitted if no If No Default........... 88 SECTION 13.4. .................................................... 76 Section 13.4 Subrogation to Rights of Holders of Senior Indebtedness....................... 88 SECTION 13.5. ............................ 76 Section 13.5 Provisions Solely to Define Relative Rights.................................... 89 SECTION . ...................................... 77 Section 13.6.