Common use of Priority Status Clause in Contracts

Priority Status. Neither the Borrower nor any other Restricted Subsidiary has taken any action which would cause the claims of unsecured creditors of the Borrower or of any other Restricted Subsidiary, as the case may be (other than claims of such creditors to the extent that they are statutorily preferred or Permitted Liens), to have priority over the claims of the Administrative Agent and the Lenders against the Borrower under this Agreement or the other Loan Documents.

Priority Status. Neither the Borrower nor any other Restricted Subsidiary has taken any action which would cause the claims of unsecured creditors of the Borrower or of any other Restricted Subsidiary, as the case may be (other than claims of such creditors to the extent that they are statutorily preferred or Permitted Liens), to have priority over the claims any of the Administrative Agent and Obligations that are not secured by the Lenders against the Borrower under this Agreement or the other Loan DocumentsCollateral.