Parity Claims definition

Parity Claims means all existing and future securities or obligations of AerCap or the relevant Guarantor, as the case may be, that rank or are expressed to rank equally with the Junior Subordinated Notes or the Guarantees, as the case may be, in distribution or payment of any amounts thereunder by AerCap or the relevant Guarantor and in the distribution of assets pursuant to any liquidation, insolvency, dissolution, reorganization or similar proceeding of AerCap or the relevant Guarantor.
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Parity Claims has the meaning specified in Section 701(a)(ii).
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Examples of Parity Claims in a sentence

  • The Notes will constitute the Company’s and the relevant Guarantor’s direct, unsecured subordinated obligations, respectively, and will rank equally (without any preference) among themselves and with any Parity Claims and prior to any Junior Claims.

  • The Notes will constitute the Issuer’s and the relevant Guarantor’s direct, unsecured, junior subordinated obligations, respectively, and will rank equally (without any preference) among themselves and with any Parity Claims and prior to any Junior Claims.

  • In the event that any interest is not paid in full for any Interest Period, the Issuer will not, subject to certain exceptions: (i) declare or pay any distribution, dividend or comparable payment in respect of any Parity Claims or Junior Claims until an interest payment on the Notes for a subsequent Interest Period is paid in full; or (ii) repurchase or redeem any of its Parity Claims or Junior Claims until an interest payment on the Notes for a subsequent Interest Period is paid in full.