Ranking of Debentures. Except as permitted by the Debentures, no Indebtedness of the Company will rank senior to or pari passu with the Debentures in right of payment, whether with respect to payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise.
Ranking of Debentures. The Debentures will be direct unsecured obligations of the Corporation. Each Debenture of the same series of Debentures will rank pari passu with each other Debenture of the same series (regardless of their actual date or terms of issue) and, subject to statutory preferred exceptions, with all other previously existing and future unsecured indebtedness of the Corporation.
Ranking of Debentures. This Debenture, along with the other Debentures issued in this series, shall rank junior to the Indebtedness issued to Hercules Capital on July 29, 2015 pursuant to a Loan and Security Agreement, pari passu with the 6% convertible note issued to EMA Financial, LLC on April 10, 2017 and senior to any other outstanding Indebtedness as of the Original Issue Date in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise.
Ranking of Debentures. Except for Indebtedness outstanding immediately prior to such Closing Date as set forth in the Disclosure Schedule, no Indebtedness of the Company is senior to or ranks pari passu with the Debentures in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise.
Ranking of Debentures. This Debenture, along with the other Debentures issued in this series, shall rank senior to any other outstanding Indebtedness as of the Original Issue Date in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise.
Ranking of Debentures. No capital stock or other security issued by the Company is senior to the Debentures in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise.
Ranking of Debentures. Except as set forth on SCHEDULE 3.1(Y), no Indebtedness of the Company is senior to or ranks pari pasu with the Debentures in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise.
Ranking of Debentures. The Debentures shall constitute general unsecured obligations of the Company and shall be subordinated as provided in Article XIII.
Ranking of Debentures. Except for the $2,000,000 6% Senior Secured Convertible Debenture Due June 28, 2008 issued to Vicis and any amounts payable by the Company to Vicis under the Guarantee Fee, Reimbursement and Indemnification Agreement, by and between the Company and Vicis, no Indebtedness of the Company is senior to or ranks pari passu with the Debentures in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise.
Ranking of Debentures. No Indebtedness of the Issuer is senior to the Debentures in right of payment, whether with respect of payment of interest or upon liquidation or dissolution or otherwise.
