Pari Passu Debt. Obligors will at all times ensure that the claims and rights of the Credit Parties under this agreement and the other Loan Documents will not be subordinate to, and will rank at all times at least pari passu with, all other Debt of the Companies, except with respect to the Subordinated Notes, which shall (at all times) remain subordinate and inferior to the Obligations. Obligors will not amend, modify or supplement any credit agreement, notes or other document relating to its Debt in any manner which would make them more onerous to the respective Obligor than the provisions of this agreement and the other Loan Documents as in effect from time to time.
Pari Passu Debt. Except as otherwise provided in this Agreement and the Intercreditor Agreement, the Notes shall rank, at all times, at least pari passu with all of the other senior secured Indebtedness of the Restricted Group, other than as permitted by Section 5.9(a)(ii) and subject to Permitted Liens. The Parent shall at all times cause any Debt owing by any member of the Restricted Group to any other member of the Restricted Group, and all Liens securing such Debt, to be subordinated to the Notes and the Liens securing the Notes, each in form and substance satisfactory to the Majority Noteholders (and the Noteholders hereby acknowledge that the manner in which such Debt has been subordinated in the notes subject to the pledge agreements dated as of the Effective Date is satisfactory to them).
Pari Passu Debt. (a) One or more members of the Group may from time to time incur Pari Passu Debt in accordance with the terms of the Bonds Indenture provided incurrence of the same is permitted or consented to pursuant to the RCF Facility Agreement and the OeKB Facilities.
Pari Passu Debt. By its acceptance of collateral security --------------- hereunder, each holder of Pari Passu Debt shall be deemed to have appointed the Collateral Agent as its agent hereunder upon the same terms and conditions as the Administrative Agent has been appointed pursuant to Article IX of the Credit Agreement (and the provisions of said Article IX are hereby incorporated herein, mutatus mutandis, as if set forth herein in full). It is understood and agreed ------- -------- that no holder of Pari Passu Debt shall have any right to consent to a termination of this Agreement in the event that the Administrative Agent, or the requisite Lenders under the Credit Agreement, shall authorize such termination.
Pari Passu Debt. The payment by the Company of the principal of and interest on all Notes issued hereunder shall rank pari passu with the payment by the Company of the principal of and interest on the Company's % Subordinated Deferrable Interest Debentures due , (which is a series of Securities issued under the Indenture).
Pari Passu Debt. The Loans rank at least pari passu in right of payment with all other Indebtedness of the Borrower.
Pari Passu Debt. The Debt evidenced by the Revolving Notes at all times shall rank at least pari passu with all other unsecured Debt of the Borrower.
Pari Passu Debt. If (x) the aggregate purchase price of Securities and other Pari Passu Debt tendered pursuant to the Offer is less than the Net Available Cash allotted to the purchase of the Securities and Pari Passu Debt, (y) the Company shall not be obligated to make an offer pursuant to the last sentence of this paragraph, or (z) the Company shall be unable to purchase Securities from Holders thereof in an Offer because of the provisions of applicable law or of the Company's or its Subsidiaries' loan agreements, indentures or other contracts governing Debt or Debt of Subsidiaries (in which case the Company need not make an Offer) the Company shall apply the remaining Net Available Cash to (i) invest in assets to replace the assets that were the subject of the Asset Disposition or in assets that (as determined by the Board of Directors of the Company, the determination of which shall be conclusive and evidenced by a resolution of such Board of Directors) will be used in the businesses of the Company and its Wholly Owned Recourse Subsidiaries (or, additionally in the case of an Asset Disposition by a Subsidiary that is not a Wholly Owned Recourse Subsidiary, the business of such Subsidiary) existing on the Issue Date or in businesses reasonably related thereto or (ii) in the case of clause (x) or (y) above, prepay, repay or repurchase Debt of the Company or Debt of a Wholly Owned Recourse Subsidiary or, additionally in the case of an Asset Disposition by a Subsidiary that is not a Wholly Owned Recourse Subsidiary, Debt of such Subsidiary which the Company or such Wholly Owned Recourse Subsidiary or Subsidiary is not required by the terms thereof to prepay, repay, repurchase or redeem (in each case other than Debt owed to the Company or an Affiliate of the Company), whether or not the related loan commitment is permanently reduced in connection therewith. the Company shall not be required to make an Offer for Securities and other Pari Passu Debt pursuant to this Section if the Net Available Cash available therefor (after application of the proceeds as provided in clause (A) and clause (B) of Sec tion 4.07(a)(iii)) are less than $10 million for any particular Asset Disposition (which lesser amounts shall not be carried forward for purposes of determining whether an Offer is required with respect to the Net Available Cash from any subsequent Asset Disposition).
Pari Passu Debt. Guarantor will assure that the obligations of Guarantor under this Guaranty shall at all times rank at least pari passu with all other unsecured and unsubordinated Debt of Guarantor (other than Debt which is mandatorily preferred by laws or regulations of general application).
Pari Passu Debt. On or prior to the Closing Date, (i) the Senior Notes Offering shall have been consummated and the U.S. Borrower shall have received gross proceeds therefrom of not less than $321,119,500 minus the aggregate principal amount of Existing Notes not purchased in the Tender Offer, or (ii) the U.S. Borrower shall have received gross proceeds from the drawdown of Bridge Loans of not less than $321,119,500 minus (A) any gross proceeds from the Senior Note Offering and (B) the aggregate principal amount of Existing Notes not purchased in the Tender Offer, in each case pursuant to agreements in form and substance reasonably satisfactory to the Approval Lenders.
