Common use of Ranking of Claims Clause in Contracts

Ranking of Claims. Subject to the Reservations, the Parent and each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its unsecured, unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or similar laws of general application.

Ranking of Claims. Subject to the Reservations, the Parent and each Obligor shall ensure that at all times the claims of the Relevant Finance Parties against it under the Relevant Finance Documents to which it is a party rank at least pari passu with the claims of all its unsecured, unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or similar laws of general application.

Ranking of Claims. Subject to the Reservations, the Parent and each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its unsecured, unsubordinated creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or similar laws of general application.

Ranking of Claims. Subject Each Obligor other than the Parent shall (subject to the Reservations, the Parent and each Obligor shall ) ensure that at all times the claims of the Finance Parties against it under the Finance Documents to which it is a party rank at least pari passu with the claims of all its unsecured, unsubordinated unsecured creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or similar laws law and subject to the provisions of general applicationthe Subordination Agreement.