Common use of Ranking of Obligations Clause in Contracts

Ranking of Obligations. The Company’s payment obligations under the Notes when issued and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be.

Appears in 2 contracts

Samples: Note Purchase Agreement (UTi WORLDWIDE INC), Note Purchase Agreement (UTi WORLDWIDE INC)

AutoNDA by SimpleDocs

Ranking of Obligations. The Company’s 's payment obligations under the Notes when issued and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be, except for obligations mandatorily preferred by law applying to companies generally.

Appears in 1 contract

Samples: Agreement (UTi WORLDWIDE INC)

Ranking of Obligations. The Company’s payment obligations under with respect to the Notes when issued Letters of Credit and Cash Draw Facility Loans and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be.

Appears in 1 contract

Samples: Letter of Credit and Cash Draw Agreement (UTi WORLDWIDE INC)

Ranking of Obligations. The Company’s payment obligations under the Notes when issued and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be, except for obligations mandatorily preferred by law applying to companies generally.

Appears in 1 contract

Samples: Note Purchase Agreement (UTi WORLDWIDE INC)

Ranking of Obligations. The Company’s payment obligations under with respect to the Notes when issued Letters of Credit and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be.. Section 5.20

Appears in 1 contract

Samples: www.sec.gov

AutoNDA by SimpleDocs

Ranking of Obligations. The Company’s payment obligations under with respect to the Notes when issued Letters of Credit and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be, except for obligations mandatorily preferred by any applicable law applying to companies generally.

Appears in 1 contract

Samples: Credit Agreement (UTi WORLDWIDE INC)

Ranking of Obligations. The Company’s payment obligations under with respect to the Notes when issued Letters of Credit and the payment obligations of the Subsidiary Guarantors under the Subsidiary Guarantee Agreement rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of such Obligor, as the case may be.

Appears in 1 contract

Samples: Letter of Credit Agreement (UTi WORLDWIDE INC)

Time is Money Join Law Insider Premium to draft better contracts faster.