Notes Pari Passu. The Notes shall rank equally without preference or priority of any kind over one another, and all payments on account of principal and interest with respect to any of the Notes shall be applied ratably and proportionately on all outstanding Notes on the basis of the then outstanding principal amount of the Notes, together with any and all interest accrued but unpaid thereon.
Notes Pari Passu. All Notes shall rank pari passu among themselves. Each Investor acknowledges and agrees that all payments on the Notes shall be made on a pro-rata basis, in accordance with each Investor’s Pro-Rata Share (as defined below) at the time of payment. If, despite the provisions of this Section 1(e), any Investor shall receive any payment on its Note in excess of its Pro-Rata Share to which it is then entitled in accordance with this Agreement, such Investor shall hold such excess payment in trust for the benefit of the Investors entitled thereto and promptly pay over or deliver such excess payment to the other Investors for application in accordance with this Section 1(e). For the purposes of this Agreement, the “Pro- Rata Share” of an Investor means the proportion which the unpaid principal amount due under the Note held by that Investor bears to the aggregate unpaid principal amount due under the Notes held by all the Investors; provided, however, that any portion of any Investor’s obligations under a Note converted to equity shall not be considered outstanding for these purposes.
Notes Pari Passu. The Further Notes, as and when issued, and from and including the date hereof, shall rank pari passu in all respects among themselves and, following the Consolidation Date, the Further Notes will be consolidated, form a single series and rank pari passu in all respects with the Original Notes.
Notes Pari Passu. The Company will cause the Notes, at all times, to rank at least pari passu against the assets of the Company with all other present and future unsecured Indebtedness (actual or contingent) of the Company which is not expressed to be subordinate or junior in rank to any other unsecured Indebtedness of the Company.
Notes Pari Passu. Except for matters related to prepayment as may be specifically set forth in any Note, the Notes shall rank equally without preference or priority of any kind over one another.
Notes Pari Passu. The Notes shall rank pari passu with the Issuer’s other senior secured indebtedness
