Pari Passu Debt definition

Pari Passu Debt means (a) any Debt of the applicable Issuer that ranks equally in right of payment with the Notes or (b) with respect to any Guarantee, any Debt that ranks equally in right of payment to such Guarantee.

Pari Passu Debt means any Indebtedness of the Company that is payable on a pari passu basis with the Securities.

Pari Passu Debt means any Funded Debt of either of the Issuers, whether outstanding on the Issue Date or thereafter created, incurred or assumed, unless, in the case of any particular Funded Debt, the instrument creating or evidencing the same or pursuant to which the same is outstanding expressly provides that such Funded Debt shall be subordinated in right of payment to the Notes.

Examples of Pari Passu Debt in a sentence

• In furtherance of the foregoing, this Agreement shall continue to be effective or be automatically reinstated, as the case may be, if at any time payment of any of the Pari Passu Debt or the 2024 Debt, in whole or in part, is rescinded or must otherwise be restored or refunded by a holder of the Pari Passu Debt or the 2024 Debt, as applicable, as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, all as though such payment had not been made.

• Notwithstanding anything to the contrary contained herein, each Bigger-District Creditor and each 2024 Note Creditor acknowledges and agrees that the ILOC secures neither the Bigger-District Debt or such Bigger-District Creditor’s share of the Pari Passu Debt or the 2024 Debt or such 2024 Note Creditor’s share of the Pari Passu Debt.

• This Agreement shall continue in full force and effect unless and until all of the Pari Passu Debt and the 2024 Debt shall be Paid in Full, and shall automatically terminate if and when all of the Pari Passu Debt and the 2024 Debt shall be Paid in Full.

• Each Pari Passu Creditor agrees not to assign or transfer all or any part of the Pari Passu Debt or any claim which such Pari Passu Creditor may have against any Obligor except pursuant to an agreement which is expressly made subject to all terms and provisions of this Agreement.

More Definitions of Pari Passu Debt

Pari Passu Debt means Indebtedness of the Company or a Restricted Subsidiary that is senior or pari passu in right of payment with the Notes. For the purposes of this definition, no Indebtedness will be considered to be senior or junior by virtue of being secured on a first or junior priority basis.

Pari Passu Debt means any Debt of the Issuer that ranks pari passu in right of payment to the Notes.

Pari Passu Debt means Debt of the Company or a Subsidiary Guarantor that is pari passu in right of payment with the Notes, in the case of the Company, or the Subsidiary Guarantees, in the case of any Subsidiary Guarantor. For the purposes of this definition, no Debt will be considered to be senior or junior by virtue of being secured on a first or junior priority basis.

Pari Passu Debt means any Indebtedness of the Company or any Guarantor that ranks pari passu in right of payment with the Notes or such Guarantee, as applicable.

Pari Passu Debt means (a) any Debt of the Issuer that ranks equally in right of payment with the Notes or (b) with respect to any Guarantee, any Debt that ranks equally in right of payment to such Guarantee.

Pari Passu Debt means Indebtedness of the Company that constitutes neither Senior Indebtedness nor Subordinated Indebtedness.

Pari Passu Debt means (a) any of the Corporate Bonds and (b) all other debt of the issuer of the Corporate Bonds which payment ranks in priority or on a pari passu basis with such Corporate Bonds.