Ranking of Debt. Unless expressly provided to the contrary in this Agreement, the Debt shall rank in right and priority of payment in the following order:
Ranking of Debt. Unless expressly provided to the contrary in this Deed, the Debt shall rank in right and priority of payment in the following order: First the Senior Debt, the Hedging Debt and the Note Debt (pari passu, without any preference between themselves); Second the Intercompany Debt; and Third the Junior Debt. For the avoidance of doubt, any claims against the Company under the Senior Subordinated Guarantee rank prior to the claims (if any) against the Company in respect of Junior Debt.
Ranking of Debt. (a) Unless expressly provided to the contrary in this Agreement (including Clause 16 (Application of Recoveries)), the Debt shall rank in right and priority of payment in the following order:
Ranking of Debt. The Debt will rank for all purposes in the following order:
Ranking of Debt. 3.1 The Debt shall, until the Senior Discharge Date, rank in the following order:
Ranking of Debt. 7 3. COVENANT TO PAY BY OBLIGORS ................................... 7 4.
Ranking of Debt. Each of the parties to this Deed agrees that the Debt owed by the Borrower to the Creditors shall rank in right and priority of payment in the following order and is postponed and subordinated to any prior ranking Debt as follows:
Ranking of Debt. Subject to Clause 14.7 (Order of application), all existing and future security conferred by the Security Documents on the Senior Creditors and the Hedging Banks will to the extent that it secures Senior Debt and/or Hedging Liabilities (subject, in each case, to the provisos to those terms set out in Clause 1.1 (Definitions and Interpretation)):
Ranking of Debt. Subject to the terms of this Deed, the Debt shall rank in the following order: First Senior Debt Second Subordinated Debt.
