Common use of Collateral Shared Equally and Ratably within Class Clause in Contracts

Collateral Shared Equally and Ratably within Class. The parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations within each Class will be secured equally and ratably by the security interests established in favor of the Priority Collateral Trustee and the Parity Collateral Trustee for the benefit of the Secured Parties belonging to such Class (including, for the avoidance of doubt, any Secured Parties existing on the date hereof or becoming Secured Parties after the date hereof pursuant to this Agreement). . It is understood and agreed that nothing in this Section 2.5 is intended to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. ARTICLE 3.

Appears in 1 contract

Samples: Collateral Trust Agreement (Midwest Generation LLC)

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Collateral Shared Equally and Ratably within Class. The parties to this Agreement Parties agree that the payment and satisfaction of all of the Secured Obligations within each Class will be secured equally and ratably by the security interests Liens established in favor favour of the Priority Collateral Trustee and the Parity Collateral Trustee Agent for the benefit of the Secured Parties belonging to such Class (including, for except that the avoidance of doubt, any Secured Parties existing on Namoya Priority Stream Obligations and the date hereof or becoming Secured Parties after Twangiza Priority Stream Obligations shall be paid in priority to the date hereof pursuant to this Agreementother Priority Lien Obligations in accordance with Section 3.4(a). ) . It is understood and agreed that nothing in this Section 2.5 is intended to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. ARTICLE 3.

Appears in 1 contract

Samples: Collateral Trust Agreement (Banro Corp)

Collateral Shared Equally and Ratably within Class. The parties to this Agreement hereto agree that the payment and satisfaction of all of the Secured Obligations within each Class will shall be secured equally Equally and ratably Ratably by each of the security interests established in favor of the Priority Collateral Trustee and the Parity Collateral Trustee for the benefit of the Secured Parties belonging to such Class (including, for the avoidance of doubt, any so long as such applicable Secured Parties existing on the date hereof or becoming Secured Parties after the date hereof pursuant to this Agreement). Obligations have validly and properly joined such applicable Class. It is understood and agreed that nothing in this Section 2.5 is intended to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. ARTICLE 32.3 hereof.

Appears in 1 contract

Samples: Collateral Trust Agreement (GenOn Energy, Inc.)

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Collateral Shared Equally and Ratably within Class. The parties to this Agreement hereto agree that the payment and satisfaction of all of the Secured Obligations within each Class will shall be secured equally and ratably by the security interests established in favor of the Priority Collateral Trustee and the Parity Collateral Trustee for the benefit of the Secured Parties belonging to such Class (including, for the avoidance of doubt, any Secured Parties existing on the date hereof or becoming Secured Parties after the date hereof pursuant to this Agreement). Class. It is understood and agreed that nothing in this Section 2.5 2.4 is intended to alter the priorities among Secured Parties belonging to different Classes as provided in Section 2.3. ARTICLE 32.3 hereof.

Appears in 1 contract

Samples: Collateral Trust Agreement (NRG Energy Inc)

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