Common use of Priority of Obligations Clause in Contracts

Priority of Obligations. The Issuer’s obligations hereunder and under the Notes and the Parent’s and each other Subsidiary Guarantor’s obligations under the Affiliate Guaranties will at all times rank at least pari passu in priority of payment with all other senior unsecured Indebtedness of the Issuer, the Parent and the Subsidiary Guarantors, as the case may be. Although it will not be a Default or an Event of Default if the Parent or the Issuer fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase such Notes on the date of the Closing that is specified in Section 3.

Priority of Obligations. The Issuer’s obligations hereunder and under the Notes Note and the Parent’s and each other Subsidiary Guarantor’s obligations under the Affiliate Guaranties will at all times rank at least pari passu in priority of payment with all other senior unsecured Indebtedness of the Issuer, the Parent and the Subsidiary Guarantors, as the case may be. Although it will not be a Default or an Event of Default if the Parent or the Issuer fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to either Closing with respect to the Notes to be issued at such Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase such Notes on the date of the respective Closing that is specified in Section 3.

Priority of Obligations. The Issuer’s obligations hereunder and under the Notes Note and the Parent’s and each other Subsidiary Guarantor’s obligations under the Affiliate Guaranties will at all times rank at least pari passu in priority of payment with all other senior unsecured Indebtedness of the Issuer, the Parent and the Subsidiary Guarantors, as the case may be. Although it will not be a Default or an Event of Default if the Parent or the Issuer fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing with respect to the Notes to be issued at the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase such Notes on the date of the Closing that is specified in Section 3.

Priority of Obligations. The Issuer’s obligations hereunder and under the Notes and the Parent’s and each other Subsidiary Guarantor’s obligations under the Affiliate Guaranties will at all times rank at least pari passu in priority of payment with all other senior unsecured Indebtedness of the Issuer, the Parent and the Subsidiary Guarantors, as the case may be. Although it will not be a Default or an Event of Default if the Parent or the Issuer fails to comply with any provision of Section 9 on or after the date of this Agreement and prior to the Closing, if such a failure occurs, then any of the Purchasers may elect not to purchase such Notes on the date of the Closing that is specified in Section 3.. ‑19‑