Common use of Equal Ranking of Lenders Clause in Contracts

Equal Ranking of Lenders. The Lenders, and to the extent necessary the Borrowers, agree that any indebtedness of a Borrower towards any of the Agents and any of the Lenders: (a) hereunder; and (b) under Secured Hedging Agreements for so long as such Lender remains a Lender hereunder, shall be secured by the Security and shall be recoverable by the Agents in accordance with the terms of this Agreement and the Security and all such obligations shall rank equally without preference or distinction with the indebtedness of a Borrower towards any Lender hereunder or under any Secured Hedging Agreements.

Equal Ranking of Lenders. The Lenders, and to the extent necessary the Borrowers, agree that any indebtedness of a Borrower towards any of the Agents and any of the Lenders: (a) hereunderhereunder (including Banking Services); and (b) under Secured Hedging Agreements for so long as such Lender remains a Lender hereunder, shall be secured by the Security and shall be recoverable by the Agents in accordance with the terms of this Agreement and the Security and all such obligations shall rank equally without preference or distinction with the indebtedness of a Borrower towards any Lender hereunder (including Banking Services) or under any Secured Hedging Agreements.