Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all present and future unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 8 contracts
Samples: Loan Agreement (Navios Maritime Acquisition Corp), Loan Agreement (Navios Maritime Partners L.P.), Secured Loan Agreement (Navios Maritime Holdings Inc.)
Pari Passu. the obligations of the each Borrower under this Agreement are direct, general and unconditional obligations of the such Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the such Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 6 contracts
Samples: Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Mc Shipping Inc), Agreement (Aegean Marine Petroleum Network Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the Master Swap Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contractBorrower;
Appears in 6 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for with the exception of any obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 4 contracts
Samples: Loan Agreement (Globus Maritime LTD), Loan Agreement (Aegean Marine Petroleum Network Inc.), Agreement (FreeSeas Inc.)
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contractBorrower;
Appears in 3 contracts
Samples: Facilities Agreement (Aries Maritime Transport LTD), Agreement (Bookham, Inc.), Loan Facility Agreement (Bookham, Inc.)
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 3 contracts
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.), Agreement (NewLead Holdings Ltd.), Agreement (Navios Maritime Holdings Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the Master Agreements are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 3 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.), Private and Confidential (Navios Maritime Holdings Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the Master Swap Agreements are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contractBorrower;
Appears in 3 contracts
Samples: Agreement (Omega Navigation Enterprises, Inc.), Agreement (Aries Maritime Transport LTD), Agreement (Aries Maritime Transport LTD)
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 3 contracts
Samples: Agreement (EuroDry Ltd.), Loan Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the Master Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 2 contracts
Samples: EuroDry Ltd., Euroseas Ltd.
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for (with the exception of any obligations which are mandatorily preferred by operation of law and not by contract);
Appears in 2 contracts
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the Master Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 2 contracts
Samples: Agreement (Box Ships Inc.), Agreement (StealthGas Inc.)
Pari Passu. the obligations of the Borrower under this Agreement and the other Security Documents are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Pari Passu. the obligations of each Borrower and the Borrower Guarantor under this Agreement are direct, general and unconditional obligations of each Borrower and the Borrower Guarantor and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of each Borrower and the Borrower except for obligations which are mandatorily preferred by operation of law and not by contractGuarantor, respectively;
Appears in 1 contract
Samples: Gulfmark Offshore Inc
Pari Passu. the obligations of the Borrower under this Agreement are direct, general and unconditional obligations of the Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower except for obligations which are mandatorily rnandatorily preferred by operation of law and not by contract;
Appears in 1 contract
Samples: Agreement (Euroseas Ltd.)
Pari Passu. the obligations of the each Borrower under this Agreement are direct, general and unconditional obligations of the such Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the such Borrower except for obligations which are mandatorily mandatory preferred by operation of law and not by contract;
Appears in 1 contract
Pari Passu. the obligations of the Borrower Borrowers under this Agreement are direct, general and unconditional obligations of the Borrower Borrowers and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower Borrowers except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
Pari Passu. the obligations of the Borrower Borrowers under this Agreement are direct, general and unconditional obligations of the Borrower Borrowers and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of the Borrower Borrowers except for obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 1 contract
Samples: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Pari Passu. the obligations of the each Borrower under this Agreement are direct, general and unconditional obligations of the such Borrower and rank at least pari passu with all other present and future unsecured and unsubordinated Indebtedness of such Borrower with the Borrower except for exception of any obligations which are mandatorily preferred by operation of law and not by contract;
Appears in 1 contract
Samples: Agreement (DryShips Inc.)
Pari Passu. the Borrower’s obligations of the Borrower under this Agreement are and will constitute direct, general unsecured, unconditional and unconditional unsubordinated obligations of the Borrower and are and will rank at all times pari passu without any preference or priority among themselves and at least pari passu with all present its other existing and future unsubordinated Indebtedness of the Borrower except and unsecured indebtedness, obligations and liabilities actual or contingent from time to time (save for obligations those which are mandatorily preferred by the mandatory operation of law and not by contractlaw);
Appears in 1 contract
Samples: Creative Technology LTD
Pari Passu. the The obligations of the Borrower under this Agreement ------------ or the Promissory Note are direct, unconditional and general and unconditional obligations of the Borrower Borrower, which do and will rank until paid at least pari passu with to all present and future unsubordinated other ---------- unsecured Indebtedness of the Borrower except for obligations which are mandatorily preferred by operation of law and not by contract;Borrower.
Appears in 1 contract
