pari passu ranking means, in relation to a borrower, the debt of that borrower which (i) ranks equally, in priority of payment to the relevant lender(s), with all of the other debt of that borrower which is of the same class or type as that debt (such class or type being determined, among other things, with reference to the status of the relevant debts as secured or not secured and/or Subordinated or not Subordinated), and (ii) which debt is accordingly not subordinated to any of the other debt of that borrower which is of the same class or type as that debt;
pari passu ranking means an obligation that ranks at least pari passu with the obligations of the Deliverable Bonds Issuer that are neither subordinated by their terms (or otherwise) nor secured.
pari passu ranking means, as an Obligation Characteristic or Deliverable Obligation Characteristic, an obligation that ranks at least pari passu with the most senior Reference Obligation in priority of payment or, if no Reference Obligation is specified in the applicable Pricing Supplement, the obligations of the Reference Entity that are neither subordinated by their terms (or otherwise) nor secured;
Examples of pari passu ranking in a sentence
PARI PASSU RANKING..................................................
SECTION 5.9 TAXES SECTION 5.10 PARI PASSU RANKING SECTION 5.11 LAWS, ORDERS, OTHER AGREEMENTS SECTION 5.12 FEDERAL RESERVE REGULATIONS SECTION 5.13 ERISA SECTION 5.14 SUBSIDIARIES SECTION 5.15 PATENTS, LICENSES, FRANCHISES, ETC.
More Definitions of pari passu ranking
pari passu ranking means, in relation to a borrower, the debt of
pari passu ranking. Funding shall procure that its obligations under the Transaction Documents do and will rank at least pari passu with all its other present and future unsecured obligations, except for obligations mandatorily preferred by law.
pari passu ranking. The Obligations of the Loan Parties rank at least pari passu in right of payment with (i) until the Security Release Date only, all other senior, secured Indebtedness of the Loan Parties (including all obligations related to the Outstanding Notes and any guarantees issued by the Loan Parties in respect thereof), other than Indebtedness secured by Permitted Encumbrances which under applicable Laws rank in priority thereto, and (ii) at all other times, all other senior, unsecured and unsubordinated Indebtedness of the Loan Parties.”
pari passu ranking. The Company shall ensure that the obligations of each Group Member under the Senior Finance Documents to which they are expressed to be a party rank, and will at all times rank, at least pari passu in right and priority of payment and in point of security (save by reason of and to the extent of the security afforded thereto by the Security Documents) with all its other present and future unsecured and unsubordinated obligations, other than obligations applicable generally to companies incorporated in its jurisdiction of incorporation which have priority by operation of law (including, without prejudice to the generality of the foregoing, in respect of employees' remuneration, Taxes and like obligations). 104
pari passu ranking. The Obligors' (other than the Parent's) obligations under the Financing Documents will rank at least PARI PASSU with all its other present and future unsecured and unsubordinated obligations other than obligations that are mandatorily preferred by law;