Common use of Status of the Bonds Clause in Contracts

Status of the Bonds. the Bonds will constitute direct, secured, unconditional and unsubordinated obligations of the Issuer and will at all times rank at least pari passu with all other present and future unsecured obligations of the Issuer other than those preferred by statute or applicable law;

Status of the Bonds. subject to the terms and conditions of the Bond Instrument, the Bonds (when issued) will constitute direct, securedunconditional, unconditional unsecured and unsubordinated obligations of the Issuer and will at all times rank at least pari passu without any preference among themselves and with all other present and future direct, unconditional, unsecured and unsubordinated obligations of the Issuer other than those preferred save for such exceptions as may be provided by statute or mandatory provisions of applicable law;.

Status of the Bonds. the The Bonds will constitute directdirect and unconditional, secured, unconditional unsecured and unsubordinated obligations of the Issuer and will at all times rank at least pari passu equally amongst themselves and with all of the Issuer’s other present existing and future unsecured obligations of the Issuer other than those preferred by statute or applicable law;and unsubordinated indebtedness from time to time outstanding.

Status of the Bonds. the Bonds The Bonds, after being issued, will constitute direct, securedgeneral, unconditional and unsubordinated obligations debts of the Issuer secured by the Security in accordance with the Terms and Conditions, and will at all times rank pari passu between themselves and at least pari passu with all any other present and future unsecured obligations of unsubordinated debts arising under debt instruments issued by the Issuer other than those preferred by statute that are secured in the same or applicable law;similar manner, except for the Issuer’s debts in relation to which binding laws stipulate otherwise.

Status of the Bonds. the The Bonds will constitute direct, secured, general and unconditional and unsubordinated obligations of the Issuer and which will at all times rank pari passu among themselves and at least pari passu with all other present and future unsecured obligations of the Issuer other than those Issuer, save for such obligations as may be preferred by statute or applicable law;provisions of law that are both mandatory and of general application.