, ranking, except as otherwise provided by law, pari passu, without any preference, among themselves and with all other present and future unsecured and unsubordinated Indebtedness // wenn NY Court of Appeal mit Argy fertig ist....wird man Klage-Bonds-Urteile vs PBA eincashen

Ranking
The New Bonds of all series are direct, unconditional, unsecured and unsubordinated obligations of the Province, ranking, except as otherwise provided by law, pari passu, without any preference, among themselves and with all other present and future unsecured and unsubordinated Indebtedness (as defined in “Negative Pledge Covenant” below) from time to time outstanding of the Province.

s 122 pba offering memorandum 2005