Pari Passu Indebtedness. The Guarantor (i) represents and warrants that, as of the date hereof, the obligations of the Guarantor under this Guaranty will rank PARI PASSU with any existing unsecured indebtedness of the Guarantor and (ii) covenants and agrees that from and after the date hereof the obligations of the Guarantor under this Guaranty will rank PARI PASSU with any unsecured indebtedness of the Guarantor incurred after the date hereof.
Appears in 3 contracts
Sources: Master Motor Vehicle Lease and Servicing Agreement (Anc Rental Corp), Master Motor Vehicle Lease and Servicing Agreement (Anc Rental Corp), Master Motor Vehicle Lease and Servicing Agreement (Anc Rental Corp)