Ranking and Subordination. The Debentures, when issued, shall constitute a senior unsecured obligation of the Corporation and shall rank (i) pari passu with all other existing and future senior unsecured indebtedness of the Corporation and (ii) senior to all existing and future subordinated indebtedness of the Corporation.
Appears in 6 contracts
Sources: Subscription Agreement, Subscription Agreement, Subscription Agreement
Ranking and Subordination. The Debentures, when issued, shall constitute a senior unsecured obligation of the Corporation and shall rank (i) pari passu with all other existing and future senior unsecured indebtedness of the Corporation Corporation; and (ii) senior to all existing and future subordinated indebtedness of the Corporation.
Appears in 1 contract
Sources: Issuance Agreement