Common use of Pari Passu Ranking Clause in Contracts

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that undertakes its payment obligations under the Finance Documents rank to which it is a party do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank this Contract rank, and continue to rank at least will rank, not less than pari passu in right of payment with the claims of all of its other present and future unsecured and unsubordinated creditors, obligations under any of its debt instruments except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations at all times any unsecured and unsubordinated claims of the Lender against it under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, creditors except for obligations those creditors whose claims are mandatorily preferred by law applying laws of general application to companies generallycompanies.

Pari Passu Ranking. The Borrower shall must ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Each Obligor shall (and the Borrower shall ensure that each other member of the Borrower Group will) ensure that its payment obligations under the Finance Documents rank and continue to rank at all times at least pari passu in right of priority and payment with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by applicable law applying and, to companies generallythe extent applicable, obligations under the Commercial Documents.

Pari Passu Ranking. The Borrower shall must ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations of the Borrower under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to at all times rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies or limited partnerships generally.

Pari Passu Ranking. The Each Borrower shall ensure procure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations which are mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Each Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall must ensure that its payment obligations under the Finance Documents rank and continue to at all times rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank this Contract rank, and continue to rank at least will rank, not less than pari passu in right of payment with the claims of all of its other present and future unsecured and unsubordinated creditors, obligations under any of its debt instruments except for obligations mandatorily preferred by law applying to companies units of local government generally.

Pari Passu Ranking. The Borrower shall ensure that its Borrower's payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank this Contract rank, and continue to rank at least will rank, not less than pari passu in right of payment with the claims of all of its other present and future unsecured and unsubordinated creditors, obligations under any of its or any Group Company’s debt instruments except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its Borrowers payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that all its payment obligations under the Finance Documents rank and continue to at all times rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated financial creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure procure that its payment obligations under and the claims of the Finance Documents rank Parties against it under each Finance Document do and continue to will rank at least pari passu with the claims of all of its other present or future, actual or contingent, unsecured and unsubordinated creditorsobligations, except for obligations those which are mandatorily preferred by applicable law applying or in exercise of powers under any law applicable to companies generallyit.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to at all times rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Each Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations of each Borrower under the Finance Documents rank and continue to rank at least pari passu with the all other present and future claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for those obligations mandatorily which are preferred by mandatory law or principles of equity applying to companies generallygenerally in the jurisdictions of their incorporation or in the jurisdiction in the ports of calls.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for those obligations mandatorily which are preferred by mandatory law applying to international shipping companies generally.generally in the jurisdictions of its incorporation or in the jurisdiction in the ports of calls

Pari Passu Ranking. The Borrower shall ensure that its Borrower’s payment obligations under the Finance Transaction Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that that, subject to the Legal Reservations, its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall, and shall ensure that the Guarantor shall, ensure that its payment obligations under the Finance Documents to which it is a party rank and continue to rank at all times at least pari passu in right of priority and payment with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank this Contract rank, and will continue to rank at least rank, not less than pari passu in right of payment with the all other present and future unsecured and unsubordinated obligations under any of its debt instruments and with all present and future claims of all of its other unsecured and unsubordinated creditors, creditors except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall must ensure that its payment obligations under the Finance Documents rank and continue to at all times rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure procure that its payment obligations under and the claims of the Finance Documents rank Parties against it under each Finance Document do and continue to will rank at least pari passu with the claims of all of its other present or future, actual or contingent, unsecured and unsubordinated creditorsobligations, except for obligations those which are mandatorily preferred by applicable law applying or in the exercise of powers under any law applicable to companies generallyit.

Pari Passu Ranking. The Borrower shall ensure that at all times its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law or regulation applying to companies generallygenerally from time to time.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank this Contract rank, and continue to rank at least will rank, not less than pari passu in right of payment with the claims of all other present and future secured and unsubordinated obligations under any of its other unsecured and unsubordinated creditors, debt instruments except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its Borrower’s payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by mandatory law or principles of equity applying to companies generally.

Pari Passu Ranking. The (a) Each Borrower shall must ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under based on the Finance Documents rank and continue to will at all times rank at least pari passu with the claims of all of its other current and future, unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred with respect to those that are required to be given preference by law applying to companies generallyoperation of the generally applicable law.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Transaction Documents rank and continue to at all times rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorspayment obligations, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its Each Borrower’s payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its Borrower’s payment obligations under the Finance Documents rank and continue to rank at least not less than pari passu in right of payment with the claims of all of its other present and future unsecured and unsubordinated creditors, obligations under any of its debt instruments except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure procure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for obligations mandatorily preferred by law applying to companies generallylaw.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to will rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall will ensure that its payment obligations under each of the Finance Documents are direct, general and unconditional obligations and to the extent not secured, rank and continue to will at all times rank at least pari passu in right and priority of payment with the claims of all of its other present and future unsecured and unsubordinated creditors, except for indebtedness (actual or contingent) with the exception of any obligations which are mandatorily preferred by law applying to companies generallyand not by contract.

Pari Passu Ranking. The Borrower shall ensure that its Borrower's payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank and continue to rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.. ​ ​

Pari Passu Ranking. The Borrower shall ensure procure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for obligations taxes, national insurance contributions, local or water authority rates and employee remuneration and benefits which are mandatorily preferred by law applying to companies generallygenerally or by the Electricity Xxx 0000.

Pari Passu Ranking. The Borrower shall ensure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations, except for those obligations mandatorily which are preferred by mandatory law applying to companies generallygenerally in its jurisdictions of incorporation.

Pari Passu Ranking. The Borrower shall ensure procure that its payment obligations under the Finance Documents rank do and continue to will rank at least pari passu with the claims of all of its other present and future unsecured and unsubordinated creditorsobligations (subject to the preference of certain obligations in the liquidation, except for obligations mandatorily preferred bankruptcy or other analogous proceedings in respect of it by law applying to companies generallyoperation of applicable law).