Common use of Ranking of Obligations Clause in Contracts

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured Indebtedness.

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility and the 2013 Note Agreement).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured Indebtedness.. ClearBridge Energy MLP Opportunity Fund Inc. Note Purchase Agreement

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility, the 2012 Note Agreement and the 2013 Note Agreement).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility and the 2012 Note Agreement).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other secured IndebtednessIndebtedness (including the Indebtedness under the Bank Facility, the 2012 Note Agreement, the 2013 Note Agreement and the 2014 Note Agreement).

Ranking of Obligations. The Fund’s payment obligations under the Financing Agreements shall at all times rank senior to all other unsecured and unsubordinated Indebtedness and senior to any mandatorily redeemable Preferred Stock issued by the Fund and at least pari passu, without preference or priority, with all other Other secured Indebtedness.