Common use of Ranking of Obligations Clause in Contracts

Ranking of Obligations. The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of the Company. The Company will ensure that each Subsidiary Guarantor’s payment obligations under the Subsidiary Guaranty will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of such Subsidiary Guarantor.

Appears in 2 contracts

Samples: Subsidiary Guaranty Agreement (Littelfuse Inc /De), Note Purchase Agreement (Littelfuse Inc /De)

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Ranking of Obligations. The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of the Company. The Company Guarantor will ensure that each Subsidiary Guarantor’s its payment obligations under this Agreement (including, without limitation, the Subsidiary Guaranty Unconditional Guaranty) will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of such Subsidiary the Guarantor.

Appears in 2 contracts

Samples: Note Purchase Agreement (Hewitt Associates Inc), Note Purchase Agreement (Hewitt Associates Inc)

Ranking of Obligations. The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of the Company. The Company will ensure that each Subsidiary Guarantor’s payment obligations under the Subsidiary Guaranty Agreement will at all times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of such Subsidiary Guarantor.

Appears in 2 contracts

Samples: Guaranty Agreement (Woodward Governor Co), Guaranty Agreement (Woodward Governor Co)

Ranking of Obligations. The Company will ensure that its Company’s payment obligations under this Agreement and the Notes will at all times will, upon issuance of the Notes, rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company. The Company will ensure that each Subsidiary Guarantor’s Guarantors’ payment obligations obligation under the Subsidiary Guaranty will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such each Subsidiary Guarantor.

Appears in 2 contracts

Samples: Subsidiary Guaranty Agreement (Littelfuse Inc /De), Note Purchase Agreement (Littelfuse Inc /De)

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Ranking of Obligations. The Company will ensure that its Company’s payment obligations under this Agreement and the Notes will at all times and each Subsidiary Guarantor’s payment obligations under the Subsidiary Guaranty will, upon issuance of the Notes and the Subsidiary Guaranty, rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of the Company. The Company will ensure that each Subsidiary Guarantor’s payment obligations under the Subsidiary Guaranty will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Subsidiary GuarantorLoan Party.

Appears in 1 contract

Samples: Note Purchase Agreement (Intrepid Potash, Inc.)

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