Common use of Pari Passu Ranking Clause in Contracts

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are for obligations mandatorily preferred by laws law applying to companies generally in its jurisdiction of general application to companiesincorporation.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall, and shall procure that each other Transaction Obligor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Borrower shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Borrower shall and shall procure that each other Transaction Obligor shall will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall (and the Company shall ensure that each member of the Group will) ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each The Borrower shall (and shall ensure that each other Obligor shall shall) ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Relevant Obligor (and the Company shall ensure that each member of the Group) shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any all unsecured and unsubordinated claims of a Finance Party the Lenders against it under the each Finance Documents Document rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Obligors, the Collections Account Holder, the Transferor and the Servicer shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it each of them under the Finance Transaction Documents rank at least pari passu with the claims of all its their other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party (including a Swap Provider) against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall will ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except save those creditors whose claims are mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application to companiesin its jurisdiction of incorporation.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws, or other laws of general application to companies.

Pari Passu Ranking. Each Obligor shall, and shall procure that each other Transaction Obligor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents to which such Obligor or Transaction Obligor is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor The Borrower and the Guarantor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty or MOF Lender against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies. Certain identified information has been excluded from this exhibit because it is both not material and is the type that the registrant treats as private or confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are for obligations mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application to companiesin its jurisdiction of incorporation.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated that the claims of a the Finance Party Parties against it under the Finance Transaction Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are for obligations mandatorily preferred by laws any law applying to companies generally (and to the extent only of general application to companiesthat mandatory preference).

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party held against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiescompanies and the Group’s Football Creditors in relation to matters set out in the Premier League Handbook.

Pari Passu Ranking. Each The Borrower shall, and the Borrower shall procure that each Obligor shall will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall, and shall procure that each other Transaction Obligor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents to which it is a party in accordance with its terms rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.. 128

Pari Passu Ranking. Each The Borrowers and the Guarantors shall, and shall procure that each other Obligor shall will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari pad passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall will ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except save those creditors whose claims are mandatorily preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application to companiesin its jurisdiction of incorporation.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents rank at least pari passu with with, and in the case of the Transaction Security rank ahead of, the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall (and the Company shall ensure that each member of the Group will) ensure that at all times any unsecured and unsubordinated claims of a Finance Party held against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it or any member of the Borrower Group under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it or any member of the Plateau Group under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each The Borrowers and the Guarantor shall, and shall procure that each other Obligor shall will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall (and the Company shall ensure that each member of the Group will) ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor Borrower shall, and shall procure that each Guarantor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it any Relevant Obligor under the Finance Documents rank at least pari passu with the claims of all its such Relevant Obligor’s other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any The unsecured and unsubordinated claims of a the Finance Party Parties against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors creditors, except those creditors whose claims are mandatorily preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall, and the Guarantor shall procure that each other Obligor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Financing Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Borrower, shall and shall procure that each other Transaction Obligor shall will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall, and shall procure that each other Obligor will, ensure that at all times any unsecured and unsubordinated claims of a Finance Party against it under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated claims of a Finance Party or Hedge Counterparty against it under the Finance Documents or Hedging Documents (as the case may be) rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors except those creditors whose claims are mandatorily preferred by laws of general application to companies.

Pari Passu Ranking. Each Obligor shall ensure that at all times any unsecured and unsubordinated the claims of a the Finance Party against it Parties under the Finance Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors except save those creditors whose claims are mandatorily preferred by any insolvency, liquidation or other similar laws of general application to companiesapplication.

Pari Passu Ranking. Each Obligor shall, and each Obligor shall ensure that each other member of the Group will, ensure that at all times any unsecured and unsubordinated claims of a the Finance Party Parties against it any Obligor under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors of such Obligor except those creditors whose claims are mandatorily preferred by laws of general application to companies.