Claims Pari Passu. The Borrower shall ensure that at all times the claims of the Finance Parties against it under the Security Documents rank at least pari passu with the claims of all its other unsecured creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up or other similar laws of general application.
Appears in 4 contracts
Samples: Loan Agreement, Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Shipping Corp)
Claims Pari Passu. The Borrower Each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Security Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up liquidation or other similar laws of general application.
Appears in 4 contracts
Samples: Assignment Agreement (Hamilton Insurance Group, Ltd.), Agreement (Hamilton Insurance Group, Ltd.), Participation Agreement (Getronics N V)
Claims Pari Passu. The Borrower shall ensure that at all times the claims of the Finance Parties against it under the Security Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, composition, insolvency, liquidation, winding-up reorganisation, moratorium or other similar laws of general application.
Appears in 2 contracts
Samples: Facility Agreement (Western Wireless Corp), Facility Agreement (Western Wireless Corp)
Claims Pari Passu. The Borrower shall ensure Ensure that at all times the claims of the Finance Parties against it under each of the Security Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up liquidation or other similar laws of general application.;
Appears in 2 contracts
Samples: Agreement (Macquarie Infrastructure Assets Trust), Agreement (Macquarie Infrastructure CO Trust)
Claims Pari Passu. The Borrower Each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Security Facility Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up liquidation or other similar laws of general application.
Appears in 1 contract
Samples: Agreement (Prologis Trust)
Claims Pari Passu. The Borrower shall ensure that at all times the claims of the Finance Parties Bank against it under the Security Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up liquidation or other similar laws of general application.
Appears in 1 contract
Samples: Agreement (Maxtor Corp)
Claims Pari Passu. The Each of the Borrower and the Guarantors shall ensure that at all times the claims of the Finance Parties against it under the Security Finance Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up liquidation or other similar laws of general application.
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