Equally and Ratably definition

Equally and Ratably means, in reference to sharing of Liens or proceeds thereof as between holders of Secured Obligations within the same Class, that such Liens or proceeds:

Equally and Ratably means, in reference to sharing of Liens or proceeds thereof as between Secured Parties of the same Class, that such Liens or proceeds:

Equally and Ratably means, in reference to sharing of Liens or proceeds thereof as between the holders of Secured Debt Obligations within the same Class after the repayment of amounts payable to the Collateral Trustee under the Collateral Trust Agreement and the Parity Lien Representatives (and in the case of Junior Lien Obligations, Junior Lien Representatives) in accordance with the applicable Secured Debt Document that such Liens or proceeds:

Examples of Equally and Ratably in a sentence

• If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations (other than the Equally and Ratably Secured Notes Obligations), if any, in the order set forth above.

• Execution; Bonds Equally and Ratably Secured; Limited Obligation of the Issuer.

• The parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations within each Class will be secured Equally and Ratably by the Liens established in favor of the Collateral Trustee for the benefit of the Secured Parties belonging to such Class.

• The parties to this Agreement agree that the payment and satisfaction of all of the Parity Lien Obligations and Junior Lien Obligations will be secured Equally and Ratably by the Liens established in favor of the Collateral Trustee for the benefit of the Secured Parties belonging to such Class.

• The payment of the Subsidiary Guarantees of each Subsidiary Guarantor and all other Obligations of such Subsidiary Guarantor, when due, and the performance of all other Obligations of such Subsidiary Guarantor under the Secured Debt Documents are secured Equally and Ratably by Liens upon such Subsidiary Guarantor's rights in the Shared Collateral.

More Definitions of Equally and Ratably

Equally and Ratably means, in reference to sharing Liens or Proceeds thereof with respect to Shared Collateral as between the Senior Subordinated Secured Parties, that such Liens or proceeds will be allocated and distributed to the Primary Notes Collateral Agent (for the account of the Interim Notes Noteholders) and the Pari Passu Collateral Agent (for the account of the Pari Passu Lenders), ratably in proportion to outstanding Obligations in respect of the Interim Notes Indebtedness and Pari Passu Indebtedness, as applicable, when the allocation or distribution is made.

Equally and Ratably means, in reference to sharing of Liens or proceeds thereof as between the holders of Parity Lien Obligations with respect to each outstanding Series of Parity Lien Debt, that such Liens or proceeds:

Equally and Ratably means, in reference to sharing of Liens or proceeds thereof as among Secured Parties of the same Class that such Liens or proceeds:

Equally and Ratably means, in reference to sharing of any Liens on Shared Collateral or proceeds thereof as among the holders of Note Obligations, the holders of Credit Agreement Obligations and the holders of other Parity Secured Obligations in respect of any other Series of Secured Debt, after allowing for the payment priorities in the Order of Application, that such Liens or proceeds:

Equally and Ratably shall have the meaning assigned to such term in the applicable Collateral Trust Agreement.

Equally and Ratably means, after allowing for the payment priorities in the Xxxxxx Order of Application, that such Liens or proceeds:

Equally and Ratably means as between the holders of Parity Debt Obligations within the same class after the repayment of amounts payable to the Security and Intercreditor Agent under the Security Documents and the Parity Obligation Representatives in accordance with the applicable Parity Obligation Document that payments made pursuant to such guarantee: