Ranking; Priority. Each of the Obligors shall promptly take all actions as may be necessary to ensure that its obligations under the Credit Documents to which it is a party will at all times constitute unconditional and unsubordinated general obligations thereof ranking at least pari passu in priority of payment with all of the other present and future unsubordinated and unsecured Debt of such Obligor.
Appears in 4 contracts
Samples: Senior Export and Working Capital Facility Agreement, Senior Export and Working Capital Facility Agreement (Gerdau Ameristeel Corp), Credit Agreement (Gerdau Ameristeel Corp)
Ranking; Priority. Each of the Obligors shall promptly take all actions as may be necessary to ensure that its obligations under the Credit Loan Documents to which it is a party will at all times constitute unconditional and unsubordinated general obligations thereof ranking at least pari passu in priority of payment in insolvency with all of the its other present and future unsecured and unsubordinated and unsecured Debt of such Obligorthereof, except for obligations mandatorily preferred by Applicable Law.
Appears in 1 contract
Samples: Revolving Credit Facility Agreement (JBS Holding Luxembourg S.A R.L.)
