Common use of Pari passu/Value of Security Clause in Contracts

Pari passu/Value of Security. (a) Pari passu ensure that its obligations under this Agreement shall, without prejudice to the provisions of this Clause 8.6 at all times rank at least pari passu with all its other present and future unsecured and unsubordinated Indebtedness with the exception of any obligations which are mandatorily preferred by law and not by contract;

Pari passu/Value of Security. (a) Pari passu ensure that its obligations under this Agreement shall, without prejudice to the provisions of this Clause 8.6 8.5 at all times rank at least pari passu with all its other present and future unsecured and unsubordinated Indebtedness with the exception of any obligations which are mandatorily preferred by law and not by contract;