EFTA Document EFTA01382761

S- I/A Table of Contrail Ranking and Security The 10.625% Notes are senior unsecured obligations and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including our existing senior subordinated notes. (ii) rank equally in right of payment with all of our existing and future senior indebtedness. (iii) are effectively junior in right of payment to all existing and future secured indebtedness, including our senior secured audit facilities, our existing