Pari Passu Obligations definition

Pari Passu Obligations means Unsecured Debt (exclusive of the Notes, this Agreement and any Subsidiary Guarantee) of the Company or any Subsidiary Guarantor owing to a Person that is not the Company or an Affiliate thereof.

Pari Passu Obligations has the meaning specified in the Intercreditor Agreement.

Pari Passu Obligations means all subordinated payment obligations of the Bank which rank, or are expressed to rank, pari passu with the Relevant Obligations;

Examples of Pari Passu Obligations in a sentence

• The payment obligations of the Guarantor in respect of the Subordinated Guarantee will (a) rank junior to all Senior Obligations of the Guarantor, (b) rank pari passu with all Pari Passu Obligations of the Guarantor and (c) rank senior to all Junior Obligations of the Guarantor.

• The payment obligations of the Guarantor under the Guarantee (the " Guarantor Obligations") will, subject to Condition 4.4.2: (a) constitute Tier 1 Capital of the Guarantor; (b) constitute direct, unsecured and subordinated obligations of the Guarantor; (c) rank subordinate and junior to all Guarantor Senior Obligations but not further or otherwise, (d) rank pari passu with all other Guarantor Pari Passu Obligations and (e) rank in priority only to all Guarantor Junior Obligations.

• The payment obligations of the Issuer under the Capital Securities (the " Issuer Obligations") will: (a) constitute direct, unsecured, unconditional and subordinated obligations of the Issuer; (b) rank subordinate and junior to all Issuer Senior Obligations but not further or otherwise, (c) rank pari passu with all other Issuer Pari Passu Obligations and (d) rank in priority only to all Issuer Junior Obligations.

• The Guarantor undertakes that its obligations hereunder will, subject to the Conditions: (a) constitute Tier 1 Capital of the Guarantor; (b) constitute direct, unsecured and subordinated obligations of the Guarantor; (b) rank subordinate and junior to all Guarantor Senior Obligations but not further or otherwise, (c) rank pari passu with all other Guarantor Pari Passu Obligations and (d) rank in priority only to all Guarantor Junior Obligations.

• The payment obligations of the Issuer under the Capital Securities will: (a) rank junior to all Senior Obligations of the Issuer; (b) rank pari passu with all Pari Passu Obligations of the Issuer; and (c) rank senior to all Junior Obligations of the Issuer.Each holder of a Capital Security unconditionally and irrevocably waives any right of set-off, counterclaim, abatement or other similar remedy which it might otherwise have, under the laws of any jurisdiction, in respect of such Capital Security.

More Definitions of Pari Passu Obligations

Pari Passu Obligations means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Additional Pari Passu Obligations.

Pari Passu Obligations means Unsecured Indebtedness (without giving effect to the proviso in the definition thereof and exclusive of the Obligations) of any member of the Consolidated Group owing to a Person that is not a member of the Consolidated Group.

Pari Passu Obligations means, collectively, (i) the Existing Secured Obligations, (ii) the Initial Additional Pari Passu Obligations and (iii) each Series of other Additional Pari Passu Obligations.

Pari Passu Obligations means the Pari Passu Indebtedness and all other Obligations in respect Pari Passu Indebtedness.

Pari Passu Obligations means the Bank’s payment obligations under the transaction documents relating to the Existing Tier 1 Securities and all other subordinated payment obligations of the Bank which rank, or are expressed to rank, pari passu with the Relevant Obligations;

Pari Passu Obligations means the Pari Passu Indebtedness and all other Obligations in respect of Pari Passu Indebtedness.

Pari Passu Obligations means (a) the Revolving Credit Agreement Obligations, (b) the Notes Obligations, and (c) all other obligations of the Grantors in respect of, or arising under, the Pari Passu Documents, plus interest and all fees, costs, charges and expenses, including legal fees and expenses to the extent authorized under the Pari Passu Documents, in each case whether accrued or incurred before or after the commencement of an Insolvency or Liquidation Proceeding, and whether or not allowed or allowable in an Insolvency or Liquidation Proceeding.