Common use of Status of Notes Clause in Contracts

Status of Notes. Notes will constitute unsecured and unsubordinated obligations of the relevant Issuer and will rank pari passu among themselves and pari passu with all other unsecured and unsubordinated obligations of the relevant Issuer.

Status of Notes. The Notes (when issued) will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and will at all times rank pari passu and without any preference among themselves. The payment obligations of the Issuer under the Notes will constitute at all times rank at least equally with all other present and future unconditional, unsecured and unsubordinated obligations indebtedness of the relevant Issuer and will rank pari passu among themselves and pari passu with all other unsecured and unsubordinated obligations of the relevant Issuer.than those preferred by statute or applicable law;