Status of the Guarantee. The payment obligations of the Guarantor under the Guarantee constitute direct, unsecured and subordinated obligations of the Guarantor (senior only to Junior Obligations of the Guarantor) and shall at all times rank pari passu and without any preference among themselves.
Appears in 9 contracts
Sources: Supplemental Fiscal Agency Agreement, Fiscal Agency Agreement, Fiscal Agency Agreement
Status of the Guarantee. The payment obligations of the Guarantor under the Guarantee constitute are direct, unsecured and subordinated obligations of the Guarantor (senior only to Junior Obligations of the Guarantor) and shall at all times rank pari passu and without any preference among themselves. The rights and claims of Noteholders and Couponholders against the Guarantor in respect of the Guarantee are subordinated as described in Condition 5.3.
Appears in 1 contract
Sources: Agency Agreement