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. 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.

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.