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 means (i) all Notes Obligations and (ii) all Future Pari Passu Obligations.

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

Examples of Pari Passu Obligations in a sentence

• Nothing in this Agreement is intended to or shall impair the obligations of any Grantor, which are absolute and unconditional, to pay the Pari Passu Obligations as and when the same shall become due and payable in accordance with their terms.

• If the aggregate principal amount of Notes and, if applicable, Other Pari Passu Obligations tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such Other Pari Passu Obligations to be purchased on a pro rata basis.

• Additionally, in the event the Pari Passu Obligations of any Series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the Bankruptcy Code), any reference to such Pari Passu Obligations or the Pari Passu Documents governing such Pari Passu Obligations shall refer to such obligations or such documents as so modified.

• In making the determination and allocations required by this Section 5.4, the Collateral Agent may conclusively rely upon information supplied by the applicable Authorized Representative as to the amounts of unpaid principal and interest and other amounts outstanding with respect to such Pari Passu Obligations and the Collateral Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information.

• The Additional Notes shall be secured, equally and ratably with the Notes and any Permitted Additional Pari Passu Obligations, by a Lien on the Collateral.

More Definitions of Pari Passu Obligations

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

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 Pari Passu Indebtedness.

Pari Passu Obligations means Unsecured Indebtedness of any Loan Party (exclusive of the Obligations) owing to a Person that is not a member of the Consolidated Group or an Affiliate thereof.

Pari Passu Obligations means Unsecured Indebtedness (exclusive of Indebtedness under the Loan Documents) of a Loan Party owing to a Person that is not a Consolidated Party or a Person Controlled (directly or indirectly) by an Affiliate of any Consolidated Party.

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

Pari Passu Obligations means any principal, interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding with respect to any Grantor, whether or not such interest is an allowed claim under applicable state, federal or foreign law), premium, penalties, fees, indemnifications, reimbursements, damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under any Pari Passu Agreement, in each case, that have been designated as Pari Passu Obligations pursuant to and in accordance with Section 8.16; provided that for the avoidance of doubt, no obligations in respect of Pari Passu Obligations shall constitute “Obligations” hereunder unless the Authorized Representative for the holders of such Pari Passu Obligations has executed a Pari Passu Secured Party Consent and has become a party to the First Lien Intercreditor Agreement.