Common use of Transaction Security and Guarantees Clause in Contracts

Transaction Security and Guarantees. Unless expressly provided to the contrary in this Agreement, the Transaction Security and the Guarantees will be granted with the following ranking and priority: (a) The Guarantees and the Transaction Security shall be granted with first priority ranking in respect of the Super Senior Debt and second priority ranking in respect of the Senior Debt, but subject always to the allocation of proceeds provision as set out in Clause 14 (Application of Recoveries). (b) The Intercompany Debt and any Subordinated Debt shall remain unguaranteed and unsecured.

Transaction Security and Guarantees. Unless expressly provided to the contrary in this Agreement, the Transaction Security and the Guarantees will be granted with the following ranking and priority: (a) The Guarantees and the Transaction Security shall be granted with first priority ranking in respect of the Super Senior Debt and second priority ranking in respect of the Senior Debt, pari passu between the Super Senior Debt and the Senior Debt, but subject always to the allocation of proceeds provision as set out in Clause 14 16 (Application of Recoveries). (b) The Intercompany Debt and any Subordinated Debt shall remain unguaranteed and unsecured.

Transaction Security and Guarantees. Unless expressly provided to the contrary in this Agreement, the Transaction Security and the Guarantees will be granted with the following ranking and priority:‌ (a) The Guarantees and the Transaction Security shall be granted with first priority ranking in respect of the Super Senior Debt and second priority ranking in respect of the Senior Debt, pari passu between the Super Senior Debt and the Senior Debt, but subject always to the allocation of proceeds provision as set out in Clause 14 15 (Application of Recoveries). (b) The Intercompany Debt and any Subordinated Debt shall remain unguaranteed and unsecured.

Transaction Security and Guarantees. Unless expressly provided to the contrary in this Agreement, the Transaction Security and the Guarantees will be granted with the following ranking and priority:‌ (a) The the Guarantees and the Transaction Security shall be granted with first priority ranking in respect of the Super Senior Debt and second priority ranking in respect of the Senior Debt, pari passu between the Super Senior Debt and the Senior Debt, but subject always to the allocation of proceeds provision as set out in Clause 14 15 (Application of Recoveries).; and (b) The the Intercompany Debt and any Subordinated Shareholder Debt shall remain unguaranteed and unsecured.

Transaction Security and Guarantees. Unless expressly provided to the contrary in this Agreement, the Transaction Security and the Guarantees will be granted with the following ranking and priority:‌ (a) The Guarantees and the Transaction Security shall be granted with first priority ranking in respect of the Super Senior Debt and second priority ranking in respect of the Senior Debt, pari passu between the Super Senior Debt and the Senior Debt, but subject always to the allocation of proceeds provision as set out in Clause 14 16 (Application of Recoveries). (b) The Intercompany Debt and any Subordinated Debt shall remain unguaranteed and unsecured.