Ranking of Liabilities. Ensure that its liabilities under the Finance Documents will constitute its direct and unconditional obligations and rank in priority to all its other present and future indebtedness (except for indebtedness ranking equally or entitled to priority by operation of law
Ranking of Liabilities. Its payment obligations under the Finance Documents to which it is a party rank at least pari passu with all of its other present and future unsecured and unsubordinated indebtedness except for indebtedness mandatorily preferred by law applying to companies generally.
Ranking of Liabilities. The principal purpose of this Agreement is that (subject only as expressly provided to the contrary in this Agreement) the Senior Liabilities, the Hedging Liabilities, the Mezzanine Liabilities and the Overdraft Liabilities should rank in the following order of priority: FIRST: the Senior Liabilities, the Hedging Liabilities, the Overdraft Liabilities pari passu; and SECOND: the Mezzanine Liabilities.
Ranking of Liabilities. 3.1 Upon the occurrence of any of the events described in sub-clause 6.1.1 or sub-clause 6.1.2, each of the Parties hereby agrees that, whether secured or unsecured, the Senior Liabilities shall rank in priority to the Subordinated Liabilities.
Ranking of Liabilities. The payment obligations of each Obligor under the Finance Documents constitute its direct and unconditional obligations and rank at least pari passu in right and priority of payment with all the other present and future unsecured indebtedness of such Obligor), except for indebtedness mandatory preferred by law applying to companies generally or by reason of a Permitted Security. The Borrower has taken all necessary action to procure that obligations of respective Obligors under the Finance Documents comply with the requirements arising under the Indenture requiring the Financial Indebtedness of the Obligors to rank pari passu in right and priority of payment with all their the present and future indebtedness under the Indenture, the Notes and the Notes Guarantees.
Ranking of Liabilities. Subject to the next sentence, ensure that its payment obligations under the Finance Documents will constitute its direct and unconditional obligations and rank at least pari passu in right and priority of payment with all its other present and future indebtedness (except for indebtedness mandatory preferred by provisions of law applying to companies generally or by reason of a Permitted Security). The Borrower shall take all necessary action to procure that obligations of respective Obligors under the Finance Documents comply with the requirements arising under the Indenture requiring the Financial Indebtedness of the Obligors to rank pari passu in right and priority of payment with all their the present and future indebtedness under the Indenture, the Notes and the Notes Guarantees.
Ranking of Liabilities. Each of LND and the Parent hereby agrees and the Company acknowledges that the LND Liabilities, whether secured or unsecured, shall rank in priority to the Parental Liabilities.
