Common use of Ranking of Claims Clause in Contracts

Ranking of Claims. Under the laws of England and Wales in force as at the date of making this representation, claims against the Current Issuer Cash Manager under the Transaction Documents will rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, save those whose claims are preferred solely by any bankruptcy, liquidation or other similar laws of general application.

Ranking of Claims. Under the laws of England and Wales in force as at the date of making this representation, claims against the Current Issuer Cash Manager under the Transaction Documents will rank at least pari passu PARI PASSU with the claims of all its other unsecured and unsubordinated creditors, save those whose claims are preferred solely by any bankruptcy, liquidation or other similar laws of general application.