Subordination; Priority. Any Tax Benefit Payment or Early Termination Payment required to be paid by the Corporation to a TRA Holder under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any current or future obligations in respect of indebtedness for borrowed money of the Corporation and its Subsidiaries and shall, except as otherwise provided in this Agreement, rank pari passu with all current or future unsecured obligations of the Corporation that are not principal, interest or other amounts due and payable in respect of any current or future obligations in respect of indebtedness for borrowed money of the Corporation and its Subsidiaries and shall be senior to equity interests in the Corporation.
Appears in 7 contracts
Samples: Tax Receivable Agreement (Rubicon Technologies, Inc.), Tax Receivable Agreement (NUSCALE POWER Corp), Agreement and Plan of Merger (Founder SPAC)
Subordination; Priority. Any Tax Benefit Payment or Early Termination Payment required to be paid by the Corporation to a TRA Holder Benefit Payor under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any current or future obligations in respect of indebtedness for borrowed money of the Corporation such TRA Benefit Payor and its Subsidiaries and shall, except as otherwise provided in this Agreement, rank pari passu with all current or future unsecured obligations of the Corporation such TRA Benefit Payor that are not principal, interest or other amounts due and payable in respect of any current or future obligations in respect of indebtedness for borrowed money of the Corporation such TRA Benefit Payor and its Subsidiaries and shall be senior to equity interests in the CorporationTRA Benefit Payor.
Appears in 2 contracts
Samples: Tax Receivable Agreement (Excelerate Energy, Inc.), Tax Receivable Agreement (Excelerate Energy, Inc.)
