Ranking of Debt. Unless expressly provided to the contrary in this Agreement, the Debt shall rank in right and priority of payment in the following order:
Ranking of Debt. (a) Unless expressly provided to the contrary in this Agreement (including Clause 16 (Application of Recoveries)), the Debt shall rank in right and priority of payment in the following order:
Ranking of Debt. Unless expressly provided to the contrary in this Agreement, the Debt shall rank in right and priority of payment in the following order: FIRST the Senior Debt, the Hedging Debt and the Spanish Bond Debt (pari passu, without any preference between themselves); SECOND the Intercompany Debt; THIRD the Junior Debt; and FOURTH the Investor Debt. For the avoidance of doubt, any claims against the Company under the Senior Subordinated Guarantee rank prior to the claims (if any) against the Company in respect of Junior Debt or Investor Debt.
Ranking of Debt. 7 3. COVENANT TO PAY BY OBLIGORS ................................... 7 4.
Ranking of Debt. With respect to a particular Obligor, its obligations under each of the RCF Debt and the Notes Debt shall rank pari passu in right and priority of payment with its obligations under all such debt.
Ranking of Debt. 3.1 The Debt shall, until the Senior Discharge Date, rank in the following order:
Ranking of Debt. Subject to Clause 14.7 (Order of application), all existing and future security conferred by the Security Documents on the Senior Creditors and the Hedging Banks will to the extent that it secures Senior Debt and/or Hedging Liabilities (subject, in each case, to the provisos to those terms set out in Clause 1.1 (Definitions and Interpretation)):
Ranking of Debt. The Debt will rank for all purposes and at all time in priority to the Funding Loan in accordance with the terms of this Agreement.
Ranking of Debt. Unless expressly provided to the contrary in this Deed, the Debt shall rank in right and priority of payment in the following order: First the Senior Debt, the Hedging Debt and the Note Debt (pari passu, without any preference between themselves); Second the Intercompany Debt; and Third the Junior Debt. For the avoidance of doubt, any claims against the Company under the Senior Subordinated Guarantee rank prior to the claims (if any) against the Company in respect of Junior Debt.
