Common use of Pari Passu Ranking Clause in Contracts

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

Appears in 7 contracts

Samples: Credit Agreement (British Energy Group PLC), Agreement (Schneider Electric Sa), Loan Agreement (Elbit Medical Imaging LTD)

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

Appears in 4 contracts

Samples: Credit Agreement, Agreement (Teekay LNG Partners L.P.), Agreement (Teekay LNG Partners L.P.)

Pari Passu Ranking. The Borrower shall procure that its Borrower's obligations under the Finance Documents do rank and will rank at least pari passu with all its other present and future unsecured obligations, except for obligations mandatorily preferred by law applying to companies generally.

Appears in 3 contracts

Samples: Loan Agreement (Elbit Medical Imaging LTD), Loan Agreement (Elbit Medical Imaging LTD), Loan Agreement (Elbit Medical Imaging LTD)

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

Appears in 2 contracts

Samples: Agreement (S Acquisition Corp), Agreement (WDR Acquisition Corp)

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

Appears in 2 contracts

Samples: Credit Agreement (Corporate Property Associates 16 Global Inc), Credit Agreement (Corporate Property Associates 16 Global Inc)

Pari Passu Ranking. The Borrower shall procure undertakes that its obligations under the Finance Documents this Agreement do and will at all times rank at least pari passu with all its other present and future unsecured obligations, except and unsubordinated obligations of the Borrower save for any obligations mandatorily preferred by law applying to companies generallyand not by contract.

Appears in 2 contracts

Samples: Agreement (China Netcom Group CORP (Hong Kong) LTD), Agreement (China Netcom Group CORP (Hong Kong) LTD)

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

Appears in 2 contracts

Samples: Agreement (Lg Electronics Inc), Agreement (Lg Electronics Inc)

Pari Passu Ranking. The Each Borrower shall procure that its obligations and liabilities under the Finance Documents do and will rank at least pari passu PARI PASSU with all its other present and future unsecured obligations, except for obligations indebtedness other than indebtedness which is mandatorily preferred solely by applicable law applying and which preference does not arise as a result of Security Interests created pursuant to companies generallyan agreement.

Appears in 1 contract

Samples: Agreement (Aegis Acquisition Corp)

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

Appears in 1 contract

Samples: Credit Agreement (Elscint LTD)

Pari Passu Ranking. The Borrower shall procure that its Borrower's obligations (to the extent, if any, they are not secured) under the Finance Documents do rank and will rank at least pari passu with all its other present and future unsecured obligations, except for obligations mandatorily preferred by law applying to companies generallyapplicable law.

Appears in 1 contract

Samples: Credit Agreement (Elscint LTD)

Pari Passu Ranking. The Each Borrower shall procure undertakes that its obligations under the Finance Documents do and will shall rank at least pari passu with all of its other present and future unsecured obligations, except for and unsubordinated obligations other than those obligations which are mandatorily preferred by law applying to companies generallyand not by reason of contract.

Appears in 1 contract

Samples: Credit Agreement (Ti Group PLC)

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

Appears in 1 contract

Samples: Agreement (Global Ship Lease, Inc.)

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

Appears in 1 contract

Samples: Loan Agreement (Hawaiian Airlines Inc/Hi)

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