Common use of Priority of Obligations Clause in Contracts

Priority of Obligations. Each Obligor will ensure that the payment obligations of the Company under this Agreement and the Notes and of the Parent Guarantor under this Agreement, and the payment obligations of any Subsidiary Guarantor under its Subsidiary Guarantee, will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor and such Subsidiary Guarantor, as applicable.

Priority of Obligations. Each Obligor will ensure that the The payment obligations of the Company under this Agreement and the Notes and of the Parent Guarantor under this Agreement, and the payment obligations of any each Subsidiary Guarantor under its respective Subsidiary Guarantee will, upon issuance of the Notes and execution and delivery of such Subsidiary Guarantee, will at all times rank at least pari passu, without preference or priority, passu in right of payment with all other unsecured and unsubordinated Financial Indebtedness of such Obligor the Company and such Subsidiary Guarantor, as applicablerespectively, except for obligations mandatorily preferred by law applying to companies generally.

Priority of Obligations. Each Obligor will ensure that the its payment obligations of the Company under this Agreement and the Notes and (in the case of the Parent Guarantor under Company) and this Agreement, Agreement and the payment obligations Guarantees (in the case of any Subsidiary Guarantor under its Subsidiary Guarantee, the Guarantor) will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor and such Subsidiary Guarantor, as applicableObligor.