Status of Unsubordinated Notes. Unsubordinated Notes (being those Notes the status of which the applicable Pricing Supplement specifies as being Unsubordinated Notes) and the Receipts and Coupons relating to them constitute direct, unconditional, unsubordinated and (subject to Condition 3) unsecured obligations of the Issuer and rank and will rank pari passu and without any preference among themselves and (subject to such exceptions as are from time to time mandatory under French law), equally and rateably with all other present or future unsecured and unsubordinated obligations of the Issuer.
Appears in 2 contracts
Sources: Agency Agreement, Agency Agreement (Schneider Electric Sa)