Common use of Pari Passu Ranking Clause in Contracts

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are for obligations mandatorily preferred by laws law applying to companies generally in its jurisdiction of general application to companiesincorporation.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor Loan Party shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party any Lender against it under the Finance Loan Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Borrower shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Borrower shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiescompanies and except for Permitted Liens.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party (including a Swap Provider) against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure Ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except save those creditors whose claims are mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws, or other laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any Any unsecured and unsubordinated claims of a the Finance Party Parties against it or the Spanish Pledgor under the Finance Documents shall rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Borrower shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.companies and except for Permitted Liens. 67

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party held against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiescompanies and the Group’s Football Creditors in relation to matters set out in the Premier League Handbook.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any All unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it each Credit Party under the Finance Credit Documents rank and will rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors of such Credit Party except those creditors whose claims are mandatorily preferred by laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Credit Party against it under the Finance Loan Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are mandatorily preferred by laws of general application to companies.. Section 5.11

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents or Hedging Documents (as the case may be) rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party against it Parties under the Finance Documents will at all times rank at least pari passu in right and priority of payment with the claims of all its other present and future unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred solely by laws operation of general application to companieslaw.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it or any member of the Borrower Group under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.. 128

Pari Passu Ranking. Each Obligor Credit Party shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Credit Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.