Pari Passu Sharing Sample Clauses

Pari Passu Sharing. Subject to Section 6.7, notwithstanding anything to the contrary contained in any of the Security Documents and irrespective of the time, order, method or effectiveness of attachment or perfection of any security interests created in the Common Collateral or anything contained in any filing or agreement to which the Collateral Agent or any Secured Party now or hereafter may be a party, the rules for determining attachment, perfection or priority under the Uniform Commercial Code or any other law governing the relative priorities of secured creditors or the avoidance of liens, the interests of the Secured Parties in the Common Collateral shall secure the Secured Obligations on a pari passu basis and the Collateral Agent shall hold the Common Collateral for the equal and ratable benefit of the Secured Parties pursuant to this Agreement and the other Security Documents.
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Pari Passu Sharing 
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Related to Pari Passu Sharing

  • Pari Passu Notes Investor acknowledges and agrees that the payment of all or any portion of the outstanding principal amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other Notes. In the event Investor receives payments in excess of its pro rata share of the Company’s payments to the Investors of all of the Notes, then Investor shall hold in trust all such excess payments for the benefit of the holders of the other Notes and shall pay such amounts held in trust to such other holders upon demand by such holders.

  • Pari Passu Ranking Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

  • Pari Passu Guarantees The obligations of the Guarantor under this Guarantee Agreement shall rank pari passu with any similar guarantee agreements issued by the Guarantor on behalf of the holders of preferred or capital securities issued by the Issuer Trust and with any other security, guarantee or other obligation that is expressly stated to rank pari passu with the obligations of the Guarantor under this Guarantee Agreement.

  • Pari Passu Its obligations under this Agreement rank pari passu with all of its other unsecured, unsubordinated obligations except those obligations preferred by operation of law."

  • Pari Passu Obligations The Guarantor shall ensure that its obligations hereunder at all times constitute direct, general obligations of the Guarantor ranking at least pari passu in right of payment with all other unsecured, unsubordinated Indebtedness (other than Indebtedness that is preferred by mandatory provisions of law) of the Guarantor.