Pari Passu Debt. The Obligors will at all times ensure that the claims and rights of the Credit Parties under this Agreement and the other Loan Documents will not be subordinate to, and will rank at all times at least pari passu (without giving effect to any Liens) with, all other Debt of the Companies, except with respect to the Subordinated Notes (or any other Permitted Debt described in CLAUSE (i) of the definition thereof, which shall (at all times) remain subordinate and inferior to the Obligations). The Obligors will not amend, modify or supplement any credit agreement, notes or other document relating to its Debt in any manner that would make them more onerous to the respective Obligor than the provisions of this Agreement and the other Loan Documents as in effect from time to time.
Pari Passu Debt. (a) One or more members of the Group may from time to time incur Pari Passu Debt in accordance with the terms of the Bonds Indenture provided incurrence of the same is permitted or consented to pursuant to the RCF Facility Agreement and the OeKB Facilities.
(b) Such Pari Passu Debt may, provided it is Designated Indebtedness (as defined in the Bonds Indenture) and subject to and in accordance with the terms of sections 4.12 and 4.19 of the Bonds Indenture and the terms of this Agreement, be designated as Secured Obligations under this Agreement and allowed to share in the Security created under the Shared Transaction Security.
Pari Passu Debt. Except as otherwise provided in this Agreement and the Intercreditor Agreement, the Notes shall rank, at all times, at least pari passu with all of the other senior secured Indebtedness of the Restricted Group, other than as permitted by Section 5.9(a)(ii) and subject to Permitted Liens. The Parent shall at all times cause any Debt owing by any member of the Restricted Group to any other member of the Restricted Group, and all Liens securing such Debt, to be subordinated to the Notes and the Liens securing the Notes, each in form and substance satisfactory to the Majority Noteholders (and the Noteholders hereby acknowledge that the manner in which such Debt has been subordinated in the notes subject to the pledge agreements dated as of the Effective Date is satisfactory to them).
Pari Passu Debt. The Loans rank at least pari passu in right of payment with all other debt of the Borrower.
Pari Passu Debt. The payment by the Company of the principal of and interest on all Notes issued hereunder shall rank pari passu with the payment by the Company of the principal of, premium, if any, and interest on the Company's (i) 8.72% Subordinated Deferrable Interest Notes due January 31, 2045, (ii) 10% Subordinated Deferrable Interest Notes due May 31, 2045 and (iii) 9.65% Subordinated Deferrable Interest Notes due March 31, 2027 (each of which are a series of Securities issued under the Indenture).
Pari Passu Debt. The Debt evidenced by the Revolving Notes at all times shall rank at least pari passu with all other unsecured Debt of the Borrower.
Pari Passu Debt. By its acceptance of collateral security --------------- hereunder, each holder of Pari Passu Debt shall be deemed to have appointed the Collateral Agent as its agent hereunder upon the same terms and conditions as the Administrative Agent has been appointed pursuant to Article IX of the Credit Agreement (and the provisions of said Article IX are hereby incorporated herein, mutatus mutandis, as if set forth herein in full). It is understood and agreed ------- -------- that no holder of Pari Passu Debt shall have any right to consent to a termination of this Agreement in the event that the Administrative Agent, or the requisite Lenders under the Credit Agreement, shall authorize such termination.
Pari Passu Debt. On or prior to the Closing Date, (i) the Senior Notes Offering shall have been consummated and the U.S. Borrower shall have received gross proceeds therefrom of not less than $321,119,500 minus the aggregate principal amount of Existing Notes not purchased in the Tender Offer, or (ii) the U.S. Borrower shall have received gross proceeds from the drawdown of Bridge Loans of not less than $321,119,500 minus (A) any gross proceeds from the Senior Note Offering and (B) the aggregate principal amount of Existing Notes not purchased in the Tender Offer, in each case pursuant to agreements in form and substance reasonably satisfactory to the Approval Lenders.
Pari Passu Debt. 5 ----------------- *Note: This Table of Contents shall not, for any purpose, be deemed to be a part of the Indenture.
Pari Passu Debt. Notwithstanding anything to the contrary, any prepayment required pursuant to Section 2.05(c)(i), Section 2.05(c)(ii) or Section 2.05(c)(iii) may be applied, along with such prepayment of Term Loans, to (to the extent the Borrower elects, or is required by the terms thereof) purchase, redeem or repay any Pari Passu Debt pursuant to the agreements governing such Pari Passu Debt, on no more than a pro rata basis with respect to such prepayment of the Term Loans.
