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PNC » Topics » SECTION 6.1 Subordination

This excerpt taken from the PNC 8-K filed Feb 13, 2008.

SECTION 6.1 Subordination

The obligations of the Guarantor under this Trust Preferred Securities Guarantee will constitute unsecured obligations of the Guarantor and will rank subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) of the Guarantor to the extent and in the manner set forth in the Indenture with respect to the JSNs, and the provisions of Article Thirteen of the Indenture, as amended and supplemented by the provisions of Article 7 of the First Supplemental Indenture, will apply, mutatis mutandis, to the obligations of the Guarantor hereunder. The obligations of the Guarantor hereunder do not constitute Senior Indebtedness (as defined in the Indenture) of the Guarantor.

"SECTION 6.1 Subordination" elsewhere:

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City National (CYN)
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State Street (STT)
E TRADE FINANCIAL CORP (ETFC)
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