This excerpt taken from the CCO 8-K filed Dec 11, 2009.
The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume or suffer to exist any Lien (other than a Permitted Lien) on any asset or property of the Company or such Restricted Subsidiary, or any income or profits therefrom or assign or convey any right to receive income therefrom, unless:
(1) in the case of Liens securing Subordinated Indebtedness, the 2017 B Notes and related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or
(2) in all other cases, the 2017 B Notes or the Guarantees are equally and ratably secured.
The foregoing shall not apply to Liens securing the 2017 B Notes and the related Guarantees thereof or the 2017 B Exchange Notes and the related guarantees thereof. Any Lien created for the benefit of the Holders of the 2017 B Notes pursuant to this covenant shall be deemed automatically and unconditionally released and discharged upon the release and discharge of the applicable Lien described in clauses (1) and (2) above.