Subject to the payment in full of all Designated Senior Indebtedness, the Holders of the
Subordinated Securities shall be subrogated to the rights of the holders of Designated Senior
Indebtedness to receive payments or distributions of cash, property or securities of the Company
applicable to Designated Senior Indebtedness until the principal of (and premium, if any, on) and
interest, if any, on the Subordinated Securities shall be paid in full and no such payments or
distributions to the Holders of the Subordinated Securities of cash, property or securities
otherwise distributable to the holders of Designated Senior Indebtedness shall, as between the
Company, its creditors other than the holders of Designated Senior Indebtedness, and the
Holders of the Subordinated Securities be deemed to be a payment by the Company to or on
account of the Subordinated Securities. It is understood that the provisions of this Article Sixteen
are and are intended solely for the purpose of defining the relative rights of the Holders of the
Subordinated Securities, on the one hand, and the holders of the Designated Senior Indebtedness,
on the other hand. Nothing contained in this Article Sixteen or elsewhere in this Indenture or in
the Subordinated Securities is intended to or shall impair, as between the Company, its creditors
other than the holders of Designated Senior Indebtedness, and the Holders of the Subordinated
Securities, the obligation of the Company, which is unconditional and absolute, to pay to the
Holders of the Subordinated Securities the principal of (and premium, if any, on) and interest, if
any, on the Subordinated Securities as and when the same shall become due and payable in
accordance with their terms, or to affect the relative rights of the Holders of the Subordinated
Securities and creditors of the Company other than the holders of Designated Senior
Indebtedness, nor shall anything herein or in the Subordinated Securities prevent the Trustee or
the Holder of any Subordinated Security from exercising all remedies otherwise permitted by
applicable law upon default under this Indenture, subject to the rights, if any, under this Article
Sixteen of the holders of Designated Senior Indebtedness in respect of cash, property or
securities of the Company received upon the exercise of any such remedy. Upon any payment or
distribution of assets of the Company referred to in this Article Sixteen, the Trustee, subject to
the provisions of Sections 601 and 602, shall be entitled to rely upon a certificate of the
liquidating trustee or agent or other person making any distribution to the Trustee for the purpose
of ascertaining the Persons entitled to participate in such distribution, the holders of Designated
Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable