tokens: SUBORDINATION 7 . 1 In the event that insolvency proceedings are initiated against the Borrower or that it is unable to pay its debts as they fall due or in the event of any moratorium on its debts or if the Borrower has proposed any composition , assignment or arrangement to its creditors , the obligation to repay the outstanding amount of the Loan : 7 . 1 . 1 shall be subordinated to any indebtedness of the Borrower to any lending or financial institution in any way related to the Works , both present and future notwithstanding whether such indebtedness is recoverable by process of law or is conditional or unconditional (" Financial Loans "); 7 . 1 . 2 shall rank pari passu with the rights of ( i ) any other lender under other loans similar to the Loan , entered into ( or to be entered into ) between the Borrower and any other silicon processor or photovoltaic items manufacturer (" Manufacturer Loans "), and ( ii ) the Borrower ' s shareholders under shareholders ' loans entered into ( or to be entered into ) between the Borrower and any of its shareholders (" Shareholder ' s Loans ").