Priority of Claims means the relevant order of priority set out in Clause 7.2 of the Trust Deed (as described in Condition 5(d)(iii) below)

Priority of Claims. The Noteholders’ right to be paid amounts due under the Notes will be subordinated to prior ranking claims in the manner specified in the Drawdown Deed. No gross-up: Noteholders will not receive grossed-up amounts to compensate for any withholding tax. Imposition of such a tax may constitute a Mandatory Redemption Event.

Priority of Claims means the priority specified or, if none, as set out in Base Condition 12(b) or Base Condition 12(a) as applicable.

Examples of Priority of Claims in a sentence

The Trustee will apply the proceeds of enforcement of the Security in satisfaction of the claims of the groups of Secured Parties, pari passu and rateably as between members of each group, in accordance with the specified Priority of Claims.
Any Shortfall will be borne by the Secured Parties according to the Priority of Claims.
Weiss, Bankruptcy Resolution: Direct Costs and Violation of Priority of Claims, 27 J.
Unless reserved for in accordance with the provisions hereof, the Borrowers from time to time shall promptly deliver, or cause to be promptly delivered, a Priority of Claims Waiver from each vendor, landlord, public warehouse operator or other third party bailee that has not provided a Priority of Claims Waiver in form and substance satisfactory to the Administrative Agent for each third party storage facility located in any Priming Jurisdiction.
On June 18, 2021, the Receiver filed his Unopposed Motion to Approve Determination and Priority of Claims; (ii) Pool Receivership Assets and Liabilities; (iii) Establish Objection Procedure; and (iv) Approve Plan of Distribution (the “Claims Approval Motion”).

More Definitions of Priority of Claims

Priority of Claims means the priority specified or, if none, as set out in Condition 3.1(c). “Product Supplement” means any document identified as such in the Drawdown Deed.

Priority of Claims means the priority specified in the relevant Additional Conditions or, if none, as set out in Condition 3.1(c).

Priority of Claims means the priority specified or, if none, as set out in Base Condition 12(a) or Base Condition 12(b) as applicable.

Priority of Claims means the priority specified or, if none, as set out in Condition 3.1(c).

Priority of Claims means the priority specified or, if none, as set out in Condition 3.1(c). "Product Supplement" means any document identified as such in the Drawdown Deed.