Status of the Senior Notes. The Senior Notes and the relative Receipts and Coupons constitute unsecured and unsubordinated obligations of the Issuer and rank pari passu without any preference among themselves and with all other present and future unsecured and unsubordinated obligations of the Issuer save for those preferred by mandatory provisions of law.
Status of the Senior Notes. The Senior Notes and any relative Receipts and Coupons are direct, unconditional, unsubordinated and (subject to the provisions of Condition 3 (Negative Pledge)) unsecured obligations of the Issuer and rank pari passu amongst themselves and at least pari passu with the claims of the Issuer's other unsecured and unsubordinated creditors save those whose claims are preferred solely by any bankruptcy, insolvency, liquidation or other similar laws of general application.
Status of the Senior Notes. The Senior Notes and any relative Receipts and Coupons are direct, unconditional, unsubordinated and (subject to the provisions of Condition 5 (Negative Pledge)) unsecured obligations of the Issuer and rank pari passu among themselves and (save for certain obligations required to be preferred by law) equally with all other unsecured obligations (other than subordinated obligations, if any) of the Issuer, from time to time outstanding. The Issuer shall execute such instruments and do or take any such action as may be required by the DIFC to ensure the effectiveness of such ranking following any change in any law or regulation relating thereto which becomes effective on or after the date on which agreement is reached to issue the first Tranche of the Notes and which requires the Issuer to take such action.
Status of the Senior Notes. If the Notes are specified as Senior Notes, such Notes are direct, unconditional, unsubordinated and unsecured obligations of the Issuer and rank pari passu among themselves and (save for certain obligations required to be preferred by law) equally with all other unsecured obligations (other than subordinated obligations, if any) of the Issuer, from time to time outstanding.
Status of the Senior Notes. The Notes may be issued in one or more Series as unsecured debt securities, that will be senior notes (“Senior Notes”). The Notes issued by the Corporation are not deposits and are not insured by the Federal Deposit Insurance Corporation (the “FDIC”). The Corporation’s Senior Notes will be unsecured and unsubordinated obligations of the Corporation and will rank equally with all other unsubordinated and unsecured indebtedness of the Corporation. There is no limitation on the issuance of additional Senior Indebtedness of the Corporation or the Corporation’s Subordinated Notes. Likewise, there is no limitation on the issuance of additional Senior Indebtedness of the Bank or the Bank’s Subordinated Notes, or other indebtedness of, or acceptance of deposits by, the Bank. The Corporation’s Subordinated Notes and the Bank’s Subordinated Notes are collectively referred to herein as “Subordinated Notes.”
