Common use of Subrogation, etc Clause in Contracts

Subrogation, etc. Upon payment in full of all Senior Indebtedness, the Holders of Notes shall be subrogated to the rights of the holders of Senior Indebtedness, pro rata in proportion to the respective amounts then owing to the Holders of Notes; and for purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the holders of Notes would be entitled except for the provisions of this Section 6, and no payment over pursuant to such provisions to the holders of Senior Indebtedness, shall, as between the Company and its creditors (other than the Holders of Notes and the holders of the Senior Indebtedness), be deemed to be a payment by the Company to or on account of Senior Indebtedness, it being understood that the provisions of this Section 6 are and are intended solely for the purpose of defining the relative rights of the holders of Notes on the one hand and the holders of Senior Indebtedness on the other hand. Any holder of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of indebtedness ranking junior to Senior Indebtedness (including, without limitation, the Holders of any Notes).

Subrogation, etc. Upon payment in full of all Senior Indebtedness, the Holders holders of Convertible Notes shall be subrogated to the rights of the holders of Senior Indebtedness, Indebtedness to receive payments or distributions of assets of the Company pro rata in proportion to the respective amounts then owing to the Holders holders of Convertible Notes; and for purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the holders of Convertible Notes would be entitled except for the provisions of this Section 65, and no payment over pursuant to such provisions to the holders of Senior Indebtedness, shall, as between the Company and its creditors (other than the Holders holders of Convertible Notes and the holders of the Senior Indebtedness), be deemed to be a payment by the Company to or on account of Senior Indebtedness, it being understood that the provisions of this Section 6 5 are and are intended solely for the purpose of defining the relative rights of the holders of Convertible Notes on the one hand and the holders of Senior Indebtedness on the other hand. Any holder The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of indebtedness Indebtedness ranking junior to Senior Indebtedness (including, without limitation, the Holders of any Notes)Indebtedness.

Subrogation, etc. Upon payment in full of all Senior Indebtedness, the Holders holders of Convertible Notes shall be subrogated to the rights of the holders of Senior Indebtedness, Indebtedness to receive payments or distributions of assets of the Company pro rata in proportion to the respective amounts then owing to the Holders holders of Convertible Notes; and for purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the holders of Convertible Notes would be entitled except for the provisions of this Section 6Article 5, and no payment over pursuant to such provisions to the holders of Senior Indebtedness, shall, as between the Company and its creditors (other than the Holders holders of Convertible Notes and the holders of the Senior Indebtedness), be deemed to be a payment by the Company to or on account of Senior Indebtedness, it being understood that the provisions of this Section 6 Article 5 are and are intended solely for the purpose of defining the relative rights of the holders of Convertible Notes on the one hand and the holders of Senior Indebtedness on the other hand. Any holder The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of indebtedness Indebtedness ranking junior to Senior Indebtedness (including, without limitation, the Holders of any Notes)Indebtedness.

Subrogation, etc. Upon payment in full of all Senior Indebtedness, the Holders holders of Notes Convertible Debentures shall be subrogated to the rights of the holders of Senior Indebtedness, Indebtedness to receive payments or distributions of assets of the Company pro rata in proportion to the respective amounts then owing to the Holders holders of NotesConvertible Debentures; and for purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the holders of Notes Convertible Debentures would be entitled except for the provisions of this Section 65, and no payment over pursuant to such provisions to the holders of Senior Indebtedness, shall, as between the Company and its creditors (other than the Holders holders of Notes Convertible Debentures and the holders of the Senior Indebtedness), be deemed to be a payment by the Company to or on account of Senior Indebtedness, it being understood that the provisions of this Section 6 are and 5 are intended solely for the purpose of defining the relative rights of the holders of Notes Convertible Debentures on the one hand and the holders of Senior Indebtedness on the other hand. Any holder The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of indebtedness Indebtedness ranking junior to Senior Indebtedness (including, without limitation, the Holders of any Notes)Indebtedness.

Subrogation, etc. Upon payment in full of all Senior Indebtedness, the Holders holders of the Notes shall be subrogated to the rights of the holders of Senior Indebtedness, Indebtedness to receive payments or distributions of assets of the Seller pro rata in proportion to the respective amounts then owing to the Holders holders of the Notes; and for purposes of such subrogation, no payments or distributions to the holders of Senior Indebtedness of any cash, property or securities to which the holders of Notes would be entitled except for the provisions of this Section 6Article VI, and no payment over pursuant to such provisions to the holders of Senior Indebtedness, shall, as between the Company Seller and its creditors (other than the Holders holders of the Notes and the holders of the Senior Indebtedness), be deemed to be a payment by the Company Seller to or on account of Senior Indebtedness, it being understood that the provisions of this Section 6 are Article VI are, and are intended to be, solely for the purpose of defining the relative rights of the holders of the Notes on the one hand and the holders of Senior Indebtedness on the other hand. Any holder The holders of Senior Indebtedness may amend, modify and otherwise deal with Senior Indebtedness without any notice to or approval of any holder of indebtedness Indebtedness ranking junior to Senior Indebtedness (including, without limitation, the Holders of any Notes)Indebtedness.