Primary Creditor Liabilities. Each of the Parties agrees that the Credit Facility Liabilities, the Hedging Liabilities and the Pari Passu Debt Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment pari passu and without any preference between them.
Primary Creditor Liabilities. Each of the Parties agrees that the Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows:
(a) first, the Senior Liabilities (if any); and
(b) second, the Junior Liabilities.
Primary Creditor Liabilities. Subject to Clause 2.3 (Senior Parent Liabilities and Transaction Security), each of the Parties agrees that:
(a) the Liabilities owed by the Debtors (other than any Senior Parent Debt Issuer to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) to the Primary Creditors and the Operating Facility Lenders shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows:
(i) first, the Senior Lender Liabilities, the Senior Notes Liabilities, the Permitted Senior Financing Liabilities, the Hedging Liabilities, the Operating Facility Liabilities, the Permitted Second Lien Financing Liabilities, the Senior Arranger Liabilities, the Senior Agent Liabilities, the Senior Notes Trustee Amounts, the Permitted Senior Financing Agent Liabilities, the Permitted Senior Financing Arranger Liabilities, the Permitted Second Lien Financing Agent Liabilities, the Permitted Second Lien Financing Arranger Liabilities and the Senior Parent Notes Trustee Amounts pari passu and without any preference amongst them; and
(ii) second, the Senior Parent Notes Liabilities, the Permitted Parent Financing Liabilities and the Permitted Parent Financing Arranger Liabilities pari passu and without any preference amongst them; and
(b) the Liabilities owed by any Senior Parent Debt Issuer (to the extent relating to Liabilities in respect of Senior Parent Notes and/or Permitted Parent Financing Debt where that Senior Parent Debt Issuer is the issuer or, as the case may be, the borrower) to the Primary Creditors and the Operating Facility Lenders, in respect of the Senior Lender Liabilities, the Senior Notes Liabilities, the Permitted Senior Financing Liabilities, the Hedging Liabilities, the Operating Facility Liabilities, the Permitted Second Lien Financing Liabilities, the Senior Arranger Liabilities, the Senior Agent Liabilities, the Senior Notes Trustee Amounts, the Permitted Senior Financing Agent Liabilities, the Permitted Senior Financing Arranger Liabilities, the Permitted Second Lien Financing Agent Liabilities, the Permitted Second Lien Financing Arranger Liabilities, the Senior Parent Notes Trustee Amounts, the Senior Parent Notes Liabilities, the Permitted Parent Financing Liabilities and the Permitted Parent Financing Arranger Liabilities, shall rank pari pas...
Primary Creditor Liabilities. Except to the extent otherwise provided in Clause 16 (Application of Proceeds) and without prejudice to any Intercept Lien, each of the Parties agrees that the Super Senior Liabilities and the Pari Passu Debt Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment pari passu and without any preference between them.
Primary Creditor Liabilities. Each of the Parties agrees that the Liabilities owed by each Debtor and each other grantor of Transaction Security to the Primary Creditors shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows:
(a) first, the Revolving Creditor Liabilities, the Priority Hedging Liabilities, the Senior Secured Notes Liabilities, the Senior Unsecured Notes Trustee Liabilities and the Senior Unsecured Notes Issuer Liabilities pari passu and without any preference between them;
(b) second, the Non Priority Hedging Liabilities; and
(c) third, the Senior Unsecured Notes Guarantee Liabilities pari passu between themselves and without any preference between them; and
Primary Creditor Liabilities. Subject to Clause 2.3 (Notes Liabilities), each of the Parties agrees that the Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows:
(a) first, the Senior Secured Liabilities and the Second Lien Liabilities pari passu and without any preference amongst them; and
(b) second, the Unsecured Notes Liabilities pari passu and without any preference amongst them.
Primary Creditor Liabilities. Each of the Parties agrees that the Senior Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment (subject to the super senior ranking of the RCF Liabilities and the Hedging Liabilities with respect to the application of proceeds set out in Clause 16 (Application of Proceeds)) pari passu and without any preference between them.
Primary Creditor Liabilities. Notwithstanding Clause 3.2 (Ranking and Priority of Transaction Security) and the structural arrangements in place with respect to Transaction Security, but without prejudice to Clause 18 (Pre-Enforcement Proceeds), each of the Parties agrees that the Liabilities owed by the Debtors to the Primary Creditors shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows:
(a) first, the Senior Liabilities pari passu and without any preference between them; and
Primary Creditor Liabilities. Each of the Parties agrees that the Senior Lender Liabilities and the Senior Hedging Liabilities shall rank pari passu in right and priority of payment and shall be without any preference between them.
Primary Creditor Liabilities. (a) Each of the Parties agrees that the Liabilities owed by the Debtors to the Primary Creditors shall rank pro rata between (1) the Senior Liabilities and (2) the Note Liabilities.
(b) The Senior Lender Liabilities, Hedging Liabilities and Bilateral Liabilities shall rank pro rata.
