Status and Ranking. IRSA PC will ensure that its obligations under each Security will rank at least pari passu in right of payment with all other existing and future unsecured and unsubordinated indebtedness of IRSA PC (other than obligations preferred by statute or by operation of law, including, without limitation, tax and labor related claims).
Status and Ranking. 2.1 The Class A Notes constitute direct, unconditional and secured obligations of the Issuer. The Class A Notes rank pari passu among themselves.
Status and Ranking. (a) IRSA will ensure that its obligations under each Security will at all times rank at least pari passu in right of payment with all other existing and future unsecured and unsubordinated indebtedness of IRSA (other than obligations preferred by statute or by operation of law).
Status and Ranking. The 2025 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).
Status and Ranking. (a) The Company will ensure that the Notes will at all times qualify as “obligaciones negociables simples no convertibles en acciones” under the Negotiable Obligations Law, and will be entitled to the benefits set forth therein and subject to the procedural requirements thereof. The Notes will be offered, issued and placed pursuant to and in compliance with the Argentine Capital Markets Law No. 26,831, as amended by the Productive Financing Law No. 27,440 and as further amended and supplemented from time to time (the “Argentine Capital Markets Law”) and any other applicable Argentine laws and regulations. Under the terms of Article 29 of the Negotiable Obligations Law, notes constituting negotiable obligations grant their holders access to summary judgment judicial proceedings. The relevant depositary will be able to deliver, in accordance with the Argentine Capital Markets Law, certificates in respect of the Notes represented by any global Note in favor of any beneficial owner subject to certain limitations set out in the Indenture. These certificates enable beneficial owners to institute suit before any competent court in Argentina, including summary judgment proceedings, to obtain any overdue amount under the Notes.
Status and Ranking. The Notes constitute direct, unconditional and unsecured obligations of the Issuer, will at all times rank pari passu without any preference among themselves and, subject as otherwise provided by applicable law from time to time, form part of the class of Statutory Non-Preferred Obligations of the Issuer.
Status and Ranking. (a) The Company will ensure that its obligations under the Notes will at all times rank at least pari passu in right of payment with all other existing and future unsecured and unsubordinated indebtedness of the Company (other than obligations preferred by statute or by operation of law).
Status and Ranking. (a) APSA will ensure that its obligations under each Security will at all times rank at least pari passu in right of payment with all other existing and future unsecured and unsubordinated indebtedness of APSA (other than obligations preferred by statute or by operation of law, including, without limitation, tax and labor related claims).
Status and Ranking. (a) The Bank will ensure that its obligations under each Security will at all times rank at least pari passu in right of payment with all other existing and future unsecured and unsubordinated indebtedness of the Bank (other than obligations preferred by statute or by operation of law).
Status and Ranking. The Bond constitutes direct, unconditional and unsecured obligations of the Company, and shall at all times rank pari passu and without any preference or priority among themselves. The rights and claims of the Holder in respect of the Bond are subordinated to the Company’s Notes, MCB and CB, on and pursuant to the terms of the Intercreditor Agreement.
