Pro Rata Interest. (a) Except as expressly provided for herein or in any Supplement, the Notes of all Outstanding Series shall be equally and ratably entitled to the benefits of this Indenture without preference, priority or distinction, all in accordance with the terms and provisions of this Indenture and the related Supplement. All Notes of a particular Class issued hereunder are and are to be, to the extent (including any exceptions) provided in this Indenture and the related Supplement, equally and ratably secured by this Indenture without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the Notes so that all Notes of a particular Series and Class at any time Outstanding (including Notes owned by the Seller and its Affiliates, other than the Issuer) shall have the same right, Lien and preference under this Indenture and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
(b) If the conditions specified in Section 701 of this Indenture are met with respect to such Series of Notes, the security interest, and all other estate and rights granted by this Indenture with respect to such Series of Notes shall cease and become null and void, and all of the property, rights, and interest granted as security for the Notes of such Series shall revert to and revest in the Issuer without any other act or formality whatsoever.
Pro Rata Interest. (a) The Notes shall be equally and ratably entitled to the benefits of this Loan Agreement without preference, priority or distinction, all in accordance with the terms and provisions of this Loan Agreement. All Notes issued hereunder are and are to be equally and ratably secured by this Loan Agreement without preference, priority or distinction on account of the actual time or times of the delivery of the Notes so that, all Notes shall have the same right, Lien and preference under this Loan Agreement and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
(b) The execution and delivery of this Agreement shall be upon the express condition that if the conditions specified in Section 701 of this Loan Agreement are met, the security interest and all other estate and rights granted by this Loan Agreement with respect to the Notes shall cease and become null and void and all of the property, rights, and interest granted as security for the Notes shall revert to and revest in the Issuer without any other act or formality whatsoever.
Pro Rata Interest. All Notes of a particular Series issued hereunder are and are to be, to the extent (including any exceptions) provided in this Indenture and the related Supplement, equally and ratably secured by this Indenture without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the Notes so that all Notes of a particular Series at any time Outstanding shall have the same right, Lien and preference under this Indenture and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
Pro Rata Interest. At least three (3) Business Days before Parent’s payment of any Milestone, Member Representative will provide Parent with an updated calculation of each Member’s Pro Rata Interest (the “Updated Pro Rata Interest”) that will replace the previous percentage of such Member’s Pro Rata Interest (the “Replaced Pro Rata Interest”) effective as of the date Parent paid the most recent Milestone Payment to the Members. After Member Representative delivers the Updated Pro Rata Interest to Parent, all references in this Agreement to a Member’s Pro Rata Interest shall be equal to the Updated Pro Rata Interest. Member Representative’s delivery of each Member’s Updated Pro Rata Interest to Parent will have no effect on previous calculations under this Agreement made using the Replaced Pro Rata Interest.
Pro Rata Interest. Except as expressly provided for herein and in any Supplement, the Notes of all Outstanding Series shall be equally and ratably entitled to the benefits of this Indenture without preference, priority or distinction, all in accordance with the terms and provisions of this Indenture and the related Supplement. All Notes of a particular Class issued hereunder are and are to be, to the extent (including any exceptions) provided in this Indenture and the related Supplement, equally and ratably secured by this Indenture without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the Notes so that all Notes of a particular Series and Class at any time Outstanding (including Notes owned by the Seller and its Affiliates, other than the Issuer) shall have the same right, Lien and preference under this Indenture and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
Pro Rata Interest. (a) Each Supplement pursuant to which a Series of Notes is issued shall identify the Eligible Engines and other Series Collateral that will be pledged as collateral security for the Notes and other Obligations for such Series. All Notes of a particular Series shall be equally and ratably entitled to the benefits of this Indenture without preference, priority or distinction, except as provided in the related Supplement. All Notes of a particular Class within a Series are and are to be, to the extent (including any exceptions) provided in this Indenture and the related Supplement, equally and ratably secured by this Indenture without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the Notes so that all Notes of a particular Series and Class at any time Outstanding shall have the same right, Lien and preference under this Indenture and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
(b) With respect to each Series of Notes, the execution and delivery of the related Supplement shall be upon the express condition that if the conditions specified in Section 701 of this Indenture are met with respect to such Series of Notes, the security interest and all other estate and rights granted by this Indenture with respect to such Series of Notes shall cease and become null and void and all of the property, rights, and interest granted as security for the Notes of such Series shall revert to and revest in the Issuer without any other act or formality whatsoever.
Pro Rata Interest. (a) The Notes shall be equally and ratably entitled to the benefits of this Master Loan Agreement without preference, priority or distinction, all in accordance with the terms and provisions of this Master Loan Agreement. All Notes of a particular Class issued hereunder are and are to be, to the extent provided in this Master Loan Agreement, equally and ratably secured by this Master Loan Agreement without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the Notes so that, all Notes of a particular Class at any time Outstanding (including Notes owned by the Seller and its Affiliates, other than the Issuer) shall have the same right, Lien and preference under this Master Loan Agreement and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
(b) If the conditions specified in Section 701 of this Master Loan Agreement are met with respect to the Notes, the security interest and all other estate and rights granted by this Master Loan Agreement with respect to the Notes shall cease and become null and void and all of the property, rights, and interest granted as security for the Notes shall revert to, and revest in, the Issuer without any other act or formality whatsoever.
Pro Rata Interest. Except as expressly provided for herein or any Supplement, the ICI Notes of all Outstanding Series shall be equally and ratably entitled to the benefits of this Indenture without preference, priority or distinction, all in accordance with the terms and provisions of this Indenture and the related Supplement. All ICI Notes of a particular Class issued hereunder are and are to be, to the extent (including any exceptions) provided in this Indenture and the related Supplement, equally and ratably secured by this Indenture without preference, priority or distinction on account of the actual time or times of the authentication or delivery of the ICI Notes so that all ICI Notes of a particular Series and Class at any time Outstanding shall have the same right, Lien and preference under this Indenture and shall all be equally and ratably secured hereby with like effect as if they had all been executed, authenticated and delivered simultaneously on the date hereof.
Pro Rata Interest. The Trustee acknowledges that, ----------------- subject to the priorities of distribution set forth in Section 301 hereof, the Collateral shall be for the use and benefit of the Bank and all present and future bona fide Noteholders.
Pro Rata Interest. With respect to the equity or ownership interests of ----------------- any Person in any other Person, a fraction, the numerator of which is the amount of the equity or other ownership interests in such other Person that are beneficially owned by such Person and its Non-Excluded Subsidiaries, and the denominator of which is the aggregate amount of all equity or other ownership interest in such other Person that are outstanding (and for such purpose the equity or other ownership interests subject to presently exercisable options, warrants or other rights to acquire such interests shall be deemed to be outstanding and shall be included in both the numerator and the denominator).
