Claims Pari. Passu Each Obligor shall ensure that at all times the claims of the Finance Parties against it under this Agreement ranks at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those claims which are preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application or are mandatorily preferred by law applying to insurance companies generally.
Claims Pari passu The Sellers shall ensure that at all times the claims of the Buyers against them under the Transaction Documents rank at least pari passu with the claims of all their other unsecured and subordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up or other similar laws of general application.
Claims Pari passu The Charterers shall ensure that at all times the claims of a Creditor Party against them under the Transaction Documents rank at least pari passu with the claims of all their other unsecured and subordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation, winding-up or other similar laws of general application.
Claims Pari passu Its payment obligations under the Head Lessee Documents are or will be, upon execution by the Head Lessee, direct, general and unconditional obligations of the Head Lessee and rank, and will at all times rank, at least pari passu with its other unsecured and unsubordinated obligations, except for obligations mandatorily preferred by operation of law applying to companies generally in the Head Lessee's jurisdiction of incorporation.
Claims Pari. Passu Each of the Obligors shall, ensure that at all times the claims of the Facility Agent, the Sterling Agent, the Canadian Dollar Agent, the Arrangers and the Banks against it under each of the Finance Documents rank at least pari passu with the claims of all its other unsecured creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application.
Claims Pari. Passu Under the laws of the Security Parties’ respective jurisdictions of incorporation or formation in force at the date hereof, the Indebtedness will, to the extent that it exceeds the realised value of any security granted in respect of the Indebtedness, rank at least pari passu with all the Security Parties’ other unsecured indebtedness save that which is preferred solely by any bankruptcy, insolvency or other similar laws of general application.
Claims Pari. Passu The claims of the Bank against it under the Finance Documents will rank at least pari passu with the claims of all its other unsecured creditors save those whose claims are preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application.
Claims Pari. Passu Each Borrower shall, subject to any Permitted Encumbrances, ensure that at all times the claims of each Finance Party against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred by the operation of mandatory laws and regulations of Hungary, applying to companies generally in Hungary.
Claims Pari. Passu Under the laws of either its jurisdiction of incorporation or The Netherlands in force at the date hereof, the claims of the Agent, the Arranger and the Banks against it under this Agreement will rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors save those whose claims are preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application.
Claims Pari. Passu Holdings and each Borrower shall, and shall cause each of its Subsidiaries to, ensure that its Secured Obligations under the Loan Documents rank and will rank at all times at least pari passu in right and priority of payment with all its present and future unsecured and unsubordinated Indebtedness (actual or contingent) except Indebtedness preferred solely by operation of law.
