Common use of Ranking of Notes Clause in Contracts

Ranking of Notes. Other than Permitted Senior Indebtedness (as defined in the Notes), no Indebtedness of the Company is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Ista Pharmaceuticals Inc), Securities Purchase Agreement (Third Wave Technologies Inc /Wi)

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Ranking of Notes. Other than Permitted Except for the Senior Indebtedness Debt (as defined in the Notesform of Note attached as Exhibit A hereto), no Indebtedness indebtedness of the Company is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, interest damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Rita Medical Systems Inc), Securities Purchase Agreement (Rita Medical Systems Inc)

Ranking of Notes. Other than Permitted Senior Indebtedness (as defined in the Notes), no No Indebtedness of any of the Company is Companies or any of their Subsidiaries, will rank senior to or ranks pari passu with the Notes in right of paymentpayment or collectability, whether with respect of to payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other otherwise (other than in connection with Permitted Liens Indebtedness set forth under clause (as defined in the Notes), no Indebtedness iii) of the Company is secured by any assets definition of the Company“Permitted Indebtedness,” which may be pari passu with this Note in right of payment).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Qsgi Inc.), Securities Purchase Agreement (Qsgi Inc.)

Ranking of Notes. Other than Except as set forth on Schedule (ee) and for Permitted Senior Indebtedness (as defined in the Notes) (and such other indebtedness as permitted by such Permitted Senior Indebtedness to rank senior to the Notes), no Indebtedness of the Company is senior to or ranks pari passu with the Aggregate Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Ascendia Brands, Inc.), Securities Purchase Agreement (Ascendia Brands, Inc.)

Ranking of Notes. Other than Permitted Except for the Senior Indebtedness (as defined in the Notes)Indebtedness, no Indebtedness of the Company Holdings is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 1 contract

Samples: Joinder Agreement (Global Employment Holdings, Inc.)

Ranking of Notes. Other than Permitted Senior Indebtedness (as defined in the Notes) and the Redemption Notes (prior to the redemption of such Redemption Notes at the Closing), no Indebtedness of the Company is Company, at the Closing, will be senior to to, or ranks pari passu with with, the Notes in right of payment, whether with respect of to payment of or redemptions, interest, damages or damages, upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 1 contract

Samples: Securities Purchase Agreement (LOCAL Corp)

Ranking of Notes. Other than Permitted Senior Indebtedness (as defined in the Notes), no Indebtedness of either of the Company Companies is senior to or ranks pari passu with the Notes in right of payment, whether with respect of to payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of either of the Company Companies is secured by any assets of either of the CompanyCompanies.

Appears in 1 contract

Samples: Subordination Agreement (ABX Holdings, Inc.)

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Ranking of Notes. Other than Permitted Senior Indebtedness (as defined in the Notes), no Indebtedness of the Company is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 1 contract

Samples: Securities Purchase Agreement (International Assets Holding Corp)

Ranking of Notes. Other than Except for Permitted Senior Indebtedness (as defined in the Notes) and the Existing Notes (as defined in the Notes), no Indebtedness of the Company is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 1 contract

Samples: Securities Purchase Agreement (pSivida LTD)

Ranking of Notes. Other than Except for Permitted Senior Indebtedness (as defined in the Notes), no Indebtedness of the Company is senior to or ranks pari passu with the Notes in right of payment, whether with respect of payment of redemptions, interest, damages or upon liquidation or dissolution or otherwise. Other than in connection with Permitted Liens (as defined in the Notes), no Indebtedness of the Company is secured by any assets of the Company.

Appears in 1 contract

Samples: Securities Purchase Agreement (pSivida LTD)

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