PARI PASSU TREATMENT. (a) Notwithstanding anything to the contrary set forth herein, each payment or prepayment of principal and interest received after the occurrence of an Event of Default hereunder shall be distributed pari passu among the Banks, in accordance with the aggregate outstanding principal amount of the Obligations owing to each Bank divided by the aggregate outstanding principal amount of all Obligations.
PARI PASSU TREATMENT. (a) Notwithstanding anything to the contrary set forth herein, the Administrative Agent may and, upon the request of the Required Lenders, shall, upon notice to each Lender, cause each payment or prepayment of principal and interest received after the occurrence and during the continuance of an Event of Default hereunder to be distributed pari passu among the Lenders, in accordance with the aggregate outstanding principal amount of the Obligations owing to each Lender divided by the aggregate outstanding principal amount of all Obligations. Such notice shall also attach a schedule setting forth the aggregate outstanding principal amount of all Obligations at such time including a breakdown of the aggregate outstanding principal amount under each Commitment, any Domestic Term Loan and any Australian Term Loan.
PARI PASSU TREATMENT. (a) Notwithstanding anything to the contrary set forth herein, each payment or prepayment of principal and interest received after the occurrence and during the continuance of an Event of Default hereunder shall be distributed pari passu among the Banks, in accordance with the aggregate outstanding principal amount of the Obligations owing to each Bank divided by the aggregate outstanding principal amount of all Obligations.
PARI PASSU TREATMENT. The Investors agree that in the event: (i) the Company pays the Securities prior to the maturity of the Rights Securities, (ii) a Change of Control occurs, (iii) the Investors foreclose on or enforce their security interest in the Collateral securing the Securities, or (iv) the Securities are accelerated due to an Event of Default and such acceleration is not annulled within 30 days after written notice of the Event of Default, then (a) for purposes of the security interest in the Collateral and priority of payment, the holders of the Rights Securities and the Investors shall be treated on a pari passu basis, and
PARI PASSU TREATMENT. (a) Following the occurrence and during the continuance of any Event of Default, each Lender agrees that if it shall, through the exercise of a right of banker's lien, setoff or counterclaim against any Borrower (pursuant to Section 16.1 or otherwise), including a secured claim under Section 506 of the federal Bankruptcy Code or other security or interest arising from or in lieu of, such secured claim, received by such Bank under any applicable bankruptcy, insolvency or other similar law or otherwise, obtain payment (voluntary or involuntary) in respect of the Loans, and other Obligations held by it as a result of which the unpaid principal portion of the Loans and the Obligations held by it shall be proportionately less than the unpaid principal portion of the Loans and Obligations held by any other Lender, it shall be deemed to have simultaneously purchased from such other Lender a participation in the Loans and Obligations held by such other Lender, so that the aggregate unpaid principal amount of the Loans, Obligations and participations in Loans and Obligations held by each Lender shall be in the same proportion to the aggregate unpaid principal amount of the Loans and Obligations then Outstanding as the principal amount of the Loans and other Obligations held by it prior to such exercise of banker's lien, setoff or counterclaim was to the principal amount of all Loans and other Obligations outstanding prior to such exercise of banker's lien, setoff or counterclaim; PROVIDED, however, that if any such purchase or purchases or adjustments shall be made pursuant to this Section 17 and the payment giving rise thereto shall thereafter be recovered, such purchase or purchases or adjustments shall be rescinded to the extent of such recovery and the purchase price or prices or adjustments restored without interest.
PARI PASSU TREATMENT. (a) Subject to ss.13.4 and notwithstanding anything to the contrary set forth herein, each payment or prepayment oF principal and interest received after the occurrence of an Event of Default hereunder shall be distributed pari passu among the Lenders, in accordance with the aggregate outstanding principal amount of the Obligations owing to each Lender divided by the aggregate outstanding principal amount of all Obligations.
PARI PASSU TREATMENT. All Senior Debt Obligations shall rank in right of payment, upon liquidation and in all other respects pari passu without preference among Senior Debt Obligations by reason of date of incurrence or otherwise. All Oil Payment Reimbursement Obligations shall rank in right of payment and upon liquidation pari passu with all Senior Debt Obligations without any preference by reason of the date of incurrence or otherwise, except as set forth in Sections 5.05 and 10.12.
PARI PASSU TREATMENT. (a) Han and Rounick agree that their respective Replacement Notes shall be pari passu and that neither shall have any priority over or be subject to or subordinate to the other except to the extent otherwise specifically provided for herein. In furtherance of and without limiting the generality of the foregoing, Han and Rounick hereby agree that:
PARI PASSU TREATMENT. (a) Notwithstanding anything to the contrary set forth herein, the Administrative Agent may and, upon the request of the Required Lenders, shall, upon notice to each Lender, effect the remaining provisions of this Section 14.19 by causing each payment or prepayment of principal and interest received after the occurrence and during the continuance of an Event of Default hereunder to be distributed pari passu among the Lenders, in accordance with the aggregate outstanding principal amount of the Obligations owing to each Lender divided by the Total Outstandings. Such notice shall also attach a schedule setting forth the Total Outstandings at such time including a breakdown of the Total U.S. Revolver Outstandings and the Total Canadian Outstandings. Nothing in this Section 14.19 shall constitute a guarantee by any Obligor of the obligations of any other Obligor.
PARI PASSU TREATMENT. 12.01A If, after the date of execution of this Contract the Borrower concludes with any other creditor a financing or guarantee agreement that includes provisions referring to place, currency of payment and payment indemnity of the Borrower’s obligations under such agreement that are more favourable to such other creditor than the ‘EUR’ or ‘euro’ definition, clauses 10.01(A)(a), 9.03(b), 11.03, and this Pari Passu Treatment clause of this Contract, the Borrower shall so inform the Bank. In such case, or if the Bank is otherwise so informed, the Borrower shall, if the Bank so requests, execute any necessary legal documentation in order for such more favourable provisions (the “Relevant Provisions”) to be incorporated by way of amendment as of the date of such agreement into this Contract.
