Security: Pari Passu Debt Creditors. (a) Other than as set out in this Clause 4.2, no Debtor shall (and each Debtor shall procure that no member of the Group will) grant to any of the Pari Passu Debt Creditors the benefit of any Security in respect of that Pari Passu Debt Creditor’s Secured Obligations or otherwise permit such Security to subsist.
Appears in 3 contracts
Samples: Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (Melco Crown Entertainment LTD)
Security: Pari Passu Debt Creditors. (a) Other than as set out in this Clause 4.24.2 or in respect of the Common Transaction Security, no Debtor shall (and each Debtor shall procure that no member of the Group will) grant to any of the Pari Passu Debt Creditors the benefit of any Security in respect of that Pari Passu Debt Creditor’s Secured Obligations or otherwise permit such Security to subsist.
Appears in 2 contracts
Samples: Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (Melco Resorts & Entertainment LTD)
