Senior Obligations. The Company will take all actions necessary to assure that the Bonds are senior secured Indebtedness of the Company and are and remain pari passu and of equal rank and seniority with all other senior secured Indebtedness of the Company. Although it will not be a Default or an Event of Default if the Company fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase the Bonds on the date of Closing that is specified in Section 3.
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Samples: Purchase Agreement, Bond Purchase Agreement, Purchase Agreement
Senior Obligations. The Company will take all actions necessary to assure that the Bonds are senior secured Indebtedness of the Company and are and remain pari passu and of equal rank and seniority with all other senior secured Indebtedness of the Company. Although it will not be a Default or an Event of Default if the Company fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase the Bonds on the date of Closing that is specified in Section 3.
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Senior Obligations. The Company will take all actions necessary to assure that the Bonds are senior secured Indebtedness of the Company and are and remain pari passu and of equal rank and seniority with all other senior secured Indebtedness of the Company. Although it will not be a Default or an Event of Default if the Company fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase the Bonds on the date of Closing that is specified in Section 3.
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