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Risks

You should be aware that an investment in Allco Notes involves risks. Some key risks
associated with Allco Notes are:
– interest payments may be deferred in certain circumstances;
– Allco Notes are subordinated in right of payment of interest and principal to any debts of
Allco from time to time other than those which rank equally with or behind Allco Notes;
– Allco may enter into any transaction without restriction including incurring further debt
or undertaking other obligations that would rank ahead of the claims of Holders;
– the timing and method of Repayment or Resale of Allco Notes, or the terms of any Reset
Notice, may not accord with an individual Holder’s preferences; and
– changes to taxation legislation may affect Holders or allow Allco to Repay the Allco Notes.


importantly

– Allco Notes are subordinated in right of payment of interest and principal to any debts of
Allco from time to time other than those which rank equally with or behind Allco Notes;

Would this specifically state that bank debt & interest rank above notes holder?