Now that a trigger event has occur, is the notes still...

Now that a trigger event has occur, is the notes still subordinate? I thought it would now be convert to unsecure immediate debt due.
The bank hold secure debt. However, if the company is still operating. Then the bank debt is not immediately due. Therefore I would thought that note holders should be pay first. Unless, BNB is put into administration. Then, only then will secure debt holders have priority over unsecure holders.