Common use of First Priority Ranking Clause in Contracts

First Priority Ranking. The Borrower shall cause its payment obligations with respect to the Loans to constitute direct senior secured obligations of the Borrower and to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness of the Borrower.

First Priority Ranking. The Borrower shall cause its payment obligations with respect to the Loans to constitute direct senior secured obligations of the Borrower and to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness of the Borrower.

First Priority Ranking. The Borrower Borrowers shall cause its their payment obligations with respect to the Loans to constitute direct senior secured obligations of each Borrower and, except with respect to the Borrower and Senior Obligations, to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness (other than as contemplated by Section 8.03(b) (Revenue Account) with respect to payment priorities) of the BorrowerBorrowers, in each case subject to the Intercreditor Agreement.

First Priority Ranking. The Borrower Borrowers shall cause its their payment obligations with respect to the Loans to constitute direct senior secured obligations of the each Borrower and to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness (other than as contemplated by Sections 8.08(b) and (c) (Revenue Account) with respect to payment priorities) of the BorrowerBorrowers.

First Priority Ranking. The Borrower shall cause its payment obligations with respect to the Loans Obligations to constitute direct senior secured obligations of the Borrower and to rank no less than pari passu senior in priority of payment, in right of security (except with respect to all or any material part of the Collateral (except for Permitted LiensLiens that are not required hereunder to be subordinated to the Liens created under the Financing Documents) and in all other respects to all other Indebtedness of the BorrowerBorrower other than Permitted Indebtedness which is permitted by this Agreement to have an equal priority.

First Priority Ranking. The Borrower shall cause its payment obligations with respect to the Loans to constitute direct senior secured obligations of the Borrower and to rank no less than pari passu (except with respect to Permitted Liens) in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness of the Borrower.

First Priority Ranking. The Borrower Borrowers shall cause its their payment obligations with respect to the Loans to constitute direct senior secured obligations of the each Borrower and to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness (other than as contemplated by Section 8.03(b) (Revenue Account) with respect to payment priorities) of the BorrowerBorrowers, in each case subject to the Intercreditor Agreement.

First Priority Ranking. The Borrower Borrowers shall cause its their payment obligations with respect to the Loans to constitute direct senior secured obligations of the each Borrower and to rank no less than pari passu in priority of payment, in right of security (except with respect to Permitted Liens) and in all other respects to all other Indebtedness of the BorrowerBorrowers.