Examples of Pari Passu Obligations in a sentence
The payment obligations of the Guarantor in respect of the Subordinated Guarantee will (a) rank junior to all Senior Obligations of the Guarantor, (b) rank pari passu with all Pari Passu Obligations of the Guarantor and (c) rank senior to all Junior Obligations of the Guarantor.
The payment obligations of the Guarantor under the Guarantee (the " Guarantor Obligations") will, subject to Condition 4.4.2: (a) constitute Tier 1 Capital of the Guarantor; (b) constitute direct, unsecured and subordinated obligations of the Guarantor; (c) rank subordinate and junior to all Guarantor Senior Obligations but not further or otherwise, (d) rank pari passu with all other Guarantor Pari Passu Obligations and (e) rank in priority only to all Guarantor Junior Obligations.
The payment obligations of the Issuer under the Capital Securities (the " Issuer Obligations") will: (a) constitute direct, unsecured, unconditional and subordinated obligations of the Issuer; (b) rank subordinate and junior to all Issuer Senior Obligations but not further or otherwise, (c) rank pari passu with all other Issuer Pari Passu Obligations and (d) rank in priority only to all Issuer Junior Obligations.
The Guarantor undertakes that its obligations hereunder will, subject to the Conditions: (a) constitute Tier 1 Capital of the Guarantor; (b) constitute direct, unsecured and subordinated obligations of the Guarantor; (b) rank subordinate and junior to all Guarantor Senior Obligations but not further or otherwise, (c) rank pari passu with all other Guarantor Pari Passu Obligations and (d) rank in priority only to all Guarantor Junior Obligations.
The payment obligations of the Issuer under the Capital Securities will: (a) rank junior to all Senior Obligations of the Issuer; (b) rank pari passu with all Pari Passu Obligations of the Issuer; and (c) rank senior to all Junior Obligations of the Issuer.Each holder of a Capital Security unconditionally and irrevocably waives any right of set-off, counterclaim, abatement or other similar remedy which it might otherwise have, under the laws of any jurisdiction, in respect of such Capital Security.