Common use of Status and Ranking Clause in Contracts

Status and Ranking. The 2025 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).

Status and Ranking. The 2025 2026 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 2026 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).

Status and Ranking. The 2025 2027 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 2027 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).

Status and Ranking. The 2025 2024 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 2024 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).

Status and Ranking. The 2025 2023 Notes are the direct, unconditional, unsubordinated and (subject to the provisions set forth under Section 9.6 of the Base Indenture) unsecured obligations of the Issuer and rank (subject to the provisions set forth under Section 9.6 of the Base Indenture) equally among themselves, junior to obligations required to be preferred by law (which includes certain member share accounts which are given preferential status by law) and at least equally with all other Ordinary Non-Preferential Debts of the Issuer. Accordingly, subject to the Insolvency Act (and any other Ranking Legislation), for so long as they are not secured pursuant to the provisions set forth under Section 9.6 of the Base Indenture, the 2025 2023 Notes form part of the class of Ordinary Non-Preferential Debts of the Issuer under the Insolvency Act (and any other Ranking Legislation).