Ranking of Notes. 11.1 The Borrower Notes are unsecured debt securities issued by the Issuer, subordinated in accordance with clause 12, and an unsecured liability of the Issuer. The Borrower Notes rank pari passu without any preference among themselves. The Issuer may issue securities ranking equally with or in priority to the Borrower Notes.
Appears in 8 contracts
Samples: Subscription Agreement, Notes Subscription Agreement, Notes Subscription Agreement
