Common use of Pari Passu Ranking Clause in Contracts

Pari Passu Ranking. Each of the Obligors shall ensure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of calls.

Pari Passu Ranking. Each Obligor shall (and the Borrower shall ensure that each other member of the Obligors shall Borrower Group will) ensure that its obligations under the Finance Documents do and will rank at all times at least pari passu in right of priority and payment with the claims of all of its other present and future unsecured and unsubordinated obligationscreditors, except for those obligations which are mandatorily preferred by mandatory applicable law applying and, to companies generally in the jurisdictions of their incorporation or in extent applicable, obligations under the jurisdiction in the ports of callsCommercial Documents.

Pari Passu Ranking. Each of the Obligors Obligor shall ensure procure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsecured, unsubordinated obligations, except for those obligations which from time to time are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each of the Obligors Obligor shall ensure procure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which from time to time are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each of the Obligors shall ensure Obligor undertakes that its obligations under the Finance Documents do and will shall rank at least pari passu with all of its other present and future unsecured and unsubordinated obligations, except for obligations other than those obligations which are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions and not by reason of their incorporation or in the jurisdiction in the ports of callscontract.

Pari Passu Ranking. Each of the Obligors Obligor shall ensure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of calls.

Pari Passu Ranking. Each of the Obligors Obligor shall ensure procure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are preferred by mandatory law applying (subject to companies generally the preference of certain obligations in the jurisdictions liquidation, bankruptcy or other analogous proceedings in respect of their incorporation or in the jurisdiction in the ports it by operation of callsapplicable law).

Pari Passu Ranking. Each of the Obligors Obligor shall ensure procure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callslaw.

Pari Passu Ranking. Each of the Obligors The Company shall ensure procure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those taxes, national insurance contributions, employee remuneration and benefits and any other obligations which from time to time are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each of the Obligors shall Obligor must ensure that its obligations under the Finance Documents do and will at all times rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each of the Obligors shall ensure that Obligor undertakes that, subject as set out herein, its obligations under the Finance Financing Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligationsobligations other than obligations in respect of national, except provincial and local taxes and employees’ remuneration and taxes and for those obligations which are preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callscertain other statutory exceptions.

Pari Passu Ranking. Each Obligor must ensure that, under the laws of the Obligors shall ensure that its jurisdiction of incorporation, its payment obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated payment obligations, except for those obligations which are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each member of the Obligors shall Group must ensure that its obligations under the Finance Documents do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for those obligations which are mandatorily preferred by mandatory law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports of callsgenerally.

Pari Passu Ranking. Each of the Obligors Obligor shall ensure procure that its obligations under and the claims of the Finance Documents Parties against it under each Finance Document do and will rank at least pari passu with all its other present and future or future, actual or contingent, unsecured and unsubordinated obligations, except for those obligations which are mandatorily preferred by mandatory applicable law applying to companies generally in the jurisdictions of their incorporation or in the jurisdiction in the ports exercise of callspowers under any law applicable to it.