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Common use of No Priority Clause in Contracts

No Priority. No Common Unitholder shall have priority over any other Member as to the return of the amount of the value of its Common Units.

Appears in 12 contracts

Sources: Limited Liability Company Agreement (New Mountain Guardian III BDC, L.L.C.), Merger Agreement (New Mountain Guardian III BDC, L.L.C.), Limited Liability Company Agreement (New Mountain Guardian IV BDC, L.L.C.)

Related Clauses

  • Validity and Priority of Security Interest
  • Priority and Liens
  • Creation, Perfection and Priority of Security Interests
  • Perfection and Priority
  • Perfected First Priority Liens

Parent Clauses

  • Allocations and Distributions
  • COVENANTS OF THE AUTHORITY
  • GRANTING OF FRANCHISE
  • Series
  • Series Generally

Sub-Clauses

  • Distributions
  • Allocations Between Assignor and Assignee
  • Title to Assets
  • Members
  • Qualified Income Offset
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