WP Query Meta Query

I think the orderby key is at the wrong place. It think it should be like this:

$args           = array(
    'post_type' => 'event',
    'order' => 'ASC',
    'orderby' => 'meta_value',
    'meta_key' => 'your key to order',
    'meta_query' => array(
        'key' => 'Date Ordering Format',
        'relation' => 'AND',
        array(
            'key' => 'Event Type',
            'value' => '4. take-out tuesday',
            'compare' => 'LIKE'
        ),
        array(
            'key' => 'Past Event',
            'value' => 'Past',
            'compare' => 'EXISTS'
        )
    )
);