Common use of Status of Loan Notes Clause in Contracts

Status of Loan Notes. The Loan Notes are senior and secured by the Security granted under the Security Documents. The Loan Notes rank equally among themselves and with any other loan notes issued under the Subscription Agreement. The Loan Notes rank at least equally with all other unsecured, unsubordinated debt of the Borrower present and future (other than obligations mandatorily preferred by law). Each Loan Note constitutes a separate and independent debt of the Borrower to the relevant Lender.

Status of Loan Notes. The Loan Notes are senior and secured by the Security granted under the Security Documents. The Loan Notes rank equally among themselves and with any other loan notes issued under the Subscription Agreement. The Loan Notes rank at least equally with all other unsecured, unsubordinated debt of the Borrower present and future (other than obligations mandatorily preferred by law). Each Loan Note constitutes a separate and independent debt of the Borrower to the relevant Lender.

Status of Loan Notes. The Loan Notes are senior and secured by the Security granted under the Security Documents. The Loan Notes rank equally among themselves and with any other loan notes issued under the Subscription Agreementloan note deed poll dated 30 April 2020 by the Borrower. The Loan Notes rank at least equally with all other unsecured, unsubordinated debt of the Borrower present and future (other than obligations mandatorily preferred by law). Each Loan Note constitutes a separate and independent debt of the Borrower to the relevant Lender.