Common use of Ranking of Loan Clause in Contracts

Ranking of Loan. The obligations of the Company to the Banks under this Agreement and the Notes shall rank at least equal in seniority and priority with all other Unsecured Indebtedness of the Company and, in the event that any of such other Indebtedness shall be secured, the obligations to the Banks hereunder shall be secured likewise so as to continue to rank at least equal in seniority and priority with such other secured Indebtedness.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Meditrust Corp), Revolving Credit Agreement (Meditrust), Revolving Credit Agreement (Meditrust)

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Ranking of Loan. The obligations of the Company to the Banks Bank under this Agreement and the Notes Note shall rank at least equal in seniority and priority with all other Unsecured Indebtedness indebtedness of the Company and, in the event that any of such other Indebtedness shall be secured, the obligations to the Banks Bank hereunder shall be secured likewise so as to continue to rank at least equal in seniority and priority with such other secured Indebtedness.

Appears in 1 contract

Samples: Revolving Credit Agreement (Meditrust Corp)

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