Parity Obligations of the Guarantor means any present or future obligation which (i) is issued by the Guarantor and the obligations under which rank or are expressed to rank pari passu with the Guarantor's obligations under the Guarantee, or (ii) benefits from a guarantee or support agreement that ranks or is expressed to rank pari passu with its obligations under the Guarantee. For the avoidance of doubt, Parity Obligations of the Guarantor include its obligations under the guarantees for the Issuer's undated unsecured subordinated notes with a first call
Parity Obligations of the Guarantor means any obligations of the Guarantor, issued directly by it or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor, which rank or are expressed to rank pari passu with the Guarantee (which include the guarantees granted on a subordinated basis by the Guarantor in connection with the Outstanding Hybrid Securities);
Parity Obligations of the Guarantor means any and all present or future series of preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor in accordance with the First Additional Provision of Law 10/2014, obligations equivalent to preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly- owned subsidiary with the guarantee of the Guarantor (whether issued under the First Additional Provision of Law 10/2014 or any other law or regulation of Spain or of any other jurisdiction) and obligations of the Guarantor, issued directly by it or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor, which rank or are expressed to rank pari passu with the Guarantee (which include the guarantees granted by the Guarantor in connection with the 2019 Non-Call Securities, the 2018 Non-Call Securities, the 2017 Non-Call Securities, the 2016 Non- Call Securities, the 2014 Non-Call Securities and the 2013 Non-Call Securities);
Examples of Parity Obligations of the Guarantor in a sentence
The payment obligations of the Guarantor under the Subordinated Guarantee and the Trust Deed constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor and shall rank pari passu with any Parity Obligations of the Guarantor.
The payment obligations of the Guarantor under the Subordinated Guarantee and the Trust Deed constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor and shall at all times rank pari passu with any Parity Obligations of the Guarantor.
The payment obligations of the Guarantor under the Guarantee shall, save for such exceptions as may be provided for under applicable laws, at all times rank equally with all Parity Obligations of the Guarantor.
The payment obligations of the Guarantor under the Subordinated Guarantee and the Trust Deed in respect of the Subordinated Perpetual Securities and the Coupons relating to them constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor and shall at all times rank pari passu with any Parity Obligations of the Guarantor.
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More Definitions of Parity Obligations of the Guarantor
Parity Obligations of the Guarantor means any and all present or future series of preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor in accordance with Law 13/1985, obligations equivalent to preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor (whether issued under Law 13/1985 or any other law or regulation of Spain or of any other jurisdiction) (which include the guarantee granted by the Guarantor in connection with the 2002 Preferred Securities) and obligations of the Guarantor, issued directly by it or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor, which rank or are expressed to rank pari passu with the Guarantee (which include the guarantees granted by the Guarantor in connection with the September 2013 Securities);
Parity Obligations of the Guarantor means any and all present or future series of preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor in accordance with the First Additional Provision of Law 10/2014, obligations equivalent to preferred securities (participaciones preferentes) issued directly by the Guarantor or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor (whether issued under the First Additional Provision of Law 10/2014 or any other law or regulation of Spain or of any other jurisdiction) and obligations of the Guarantor, issued directly by it or indirectly through a wholly-owned subsidiary with the guarantee of the Guarantor, which rank or are expressed to rank pari passu with the Guarantee (which include the guarantees granted by the Guarantor in connection with the 2019 Non-Call Securities, the 2018 Non-Call Securities, the 2017 Non-Call Securities, the 2016 Non-Call Securities, the 2014 Non-Call Securities and the 2013 Non-Call Securities);
Parity Obligations of the Guarantor means any obligations of (i) the Guarantor, issued or incurred directly or indirectly by it, which rank, or are expressed to rank, pari passu with the Guarantee (which include the guarantee granted by the Guarantor in connection with the 5.5 year Non-Call Capital Securities) or (ii) any Subsidiary of the Guarantor (other than the 8.25 year Non-Call Capital Securities) having the benefit of a guarantee or support agreement from the Guarantor which ranks or is expressed to rank pari passu with the Guarantee;
Parity Obligations of the Guarantor means all obligations of the Guarantor which are either (i) issued directly by the Guarantor and which rank or are expressed to rank pari passu with the Guarantor’s obligations under the Guarantee or (ii) issued by any Subsidiary of the Guarantor and where the terms of such obligations benefit from a guarantee or support agreement entered into by the Guarantor which ranks or is expressed to rank pari passu with the Guarantor’s obligations under the Guarantee (which include the guarantee granted by the Guarantor in connection with each of the Outstanding Hybrid Securities);
Parity Obligations of the Guarantor means (a) the Subordinated Guarantee and any other securities or other similar instruments issued by, or obligations of, the Guarantor which rank, or are expressed to rank pari passu with the Guarantor's obligations under the Subordinated Guarantee (including the subordinated guarantee granted by the Guarantor in respect of the Perp-NC5.5 Bonds (as defined below) on the same day as the Subordinated Gurantee in respect of the Bonds) and (b) any guarantee or indemnity (or similar instrument) from the Guarantor, which ranks or is expressed to rank pari passu with the Guarantor's obligations under the Subordinated Guarantee, granted in respect of securities or other similar instruments issued by, or other subordinated obligations of, a subsidiary of the Guarantor.
Parity Obligations of the Guarantor means any present or future obligation which (i) is issued by the Guarantor and the obligations under which rank or are expressed to rank pari passu with the Guarantor's obligations under the Guarantee, or (ii) benefits from a guarantee or support agreement where the Guarantor's obligations under such
Parity Obligations of the Guarantor means (i) the most junior class of preference share capital in the Guarantor and any other obligations of the Guarantor which rank, or are expressed to rank, pari passu with the Guarantee or such preference shares and (ii) any obligations of any other member of the Group benefiting from a guarantee or support agreement entered into by the Guarantor which ranks, or is expressed to rank, pari passu with the Guarantee;