Common use of Creditor Liabilities Clause in Contracts

Creditor Liabilities. Each of the Parties agrees that the Liabilities owed by the Subordinated Guarantors to the Finance Parties shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows: (A) first, the Senior Liabilities; and (B) second, the Junior Liabilities.

Creditor Liabilities. Each of the Parties agrees that the Liabilities owed by the Subordinated Guarantors Debtors to the Finance Parties Creditors shall rank in right and priority of payment in the following order and are postponed and subordinated to any prior ranking Liabilities as follows: (Aa) first, the Senior LiabilitiesSecured Liabilities and the Senior Secured Notes Trustee Amounts pari passu and without any preference between them; and (Bb) second, the Junior LiabilitiesIntra-Group Liabilities and Holdco Liabilities pari passu between themselves and without any preference between them.