Creditor Agreements Clause Samples
A Creditor Agreements clause sets out the terms and conditions under which creditors agree to certain actions or restrictions regarding a debtor or their obligations. Typically, this clause outlines how creditors must coordinate with each other, may restrict individual enforcement actions, or require majority consent for amendments to loan terms. Its core function is to ensure orderly management of creditor rights and prevent conflicting actions, thereby reducing the risk of disputes and facilitating smoother debt administration.
Creditor Agreements. At the Closing, each of Buyer and Seller agree to comply with all of their respective obligations and responsibilities under the agreements set forth on SCHEDULE 5.14 hereto (the "Creditor Agreements").
Creditor Agreements. In order to effect this subordination, each Creditor hereby:
5.1. grants Senior Lender the right in the name of such Creditor to file (if such Creditor fails to file by the date which is thirty (30) days before the applicable bar date) any proof of debt or claim on behalf of such Creditor in respect of such Subordinated Indebtedness in any proceeding under the federal bankruptcy laws (as now or hereafter in effect) or in any dissolution, insolvency, liquidation, or other proceeding involving an adjustment of the indebtedness of Borrower or application of any assets of Borrower to payment in liquidation thereof, or otherwise.
5.2. agrees not to assign or transfer or subordinate all or any part of the Subordinated Indebtedness held by such Creditor or any claim which such Creditor may have against Borrower in respect of the Subordinated Indebtedness unless, in the case of assignments and transfers of the Subordinated Indebtedness only, such assignment or transfer is expressly made subject to the terms and provisions of this Agreement.
5.3. agrees that in the event Borrower or any other Person or entity (including any trustee or receiver in any bankruptcy or similar proceeding) offers to a Creditor any payment (including any payment received as proceeds of any Collateral Security for the Subordinated Indebtedness) or any other distribution of any property on account of any Subordinated Indebtedness at any time when such payment or other distribution is required to be turned over by the Creditors to Senior Lender pursuant to the terms hereof (collectively "Prohibited Payments"), Creditor will direct that the full amount of the Prohibited Payment be made or delivered directly to Senior Lender; any Prohibited Payment received by Creditor from any source whatsoever will be immediately delivered to Senior Lender in the form received (except for endorsements or assignments by Creditor where appropriate or required by Senior Lender) and until so delivered will be held by the Person receiving such Prohibited Payment in trust as Senior Lender's property; and agrees that Senior Lender may, in its sole discretion, retain indefeasibly all moneys collected or received pursuant to the exercise of the foregoing powers and may, in its sole discretion, apply said moneys to the payment of Senior Indebtedness then outstanding (whether matured or unmatured), provided that after satisfying all amounts owing, or to be owed, to Senior Lender with respect to the matured and unmature...
Creditor Agreements. The Creditor Agreements shall have been duly executed and delivered in form and substance reasonably satisfactory to the Company and Z/C in their reasonable discretion.
Creditor Agreements. 8.13 GEOS(R)License Agreement Amendment................................................................ 8.14
Creditor Agreements. 36 5.15 Chugai...........................................................36
Creditor Agreements. Seller has obtained and delivered to Buyer written agreements in form acceptable to Buyer from Seller’s creditors holding in aggregate not less than 85% of Seller’s outstanding debt, pursuant to which such creditors agree to the amount of their debt against Seller (the “Creditor Settlement Amounts”) and agree to provide Buyer, upon payment of the applicable Creditor Settlement Amounts out of the Escrow Account, with a full recordable release of liens and claims in form acceptable to Buyer of any and all liens and claims against the Assets held by such creditors (the “Creditor Releases”);
Creditor Agreements. The Company has entered into repayment arrangements reasonably satisfactory to the Placement Agent with significant creditors of the Company who would have a right to be paid from the proceeds of the Offering, but for such Creditor Agreements.
Creditor Agreements. Entry by the Company into payment agreements calling for amortization of outstanding past due obligations to the Company, plus a market rate of interest (without equity participation) on the following period (or longer) for each of the following creditors:
(i) Nortel Networks - 5 years; and
(ii) Video At Home - 3 years.
Creditor Agreements. The Company shall have delivered to Purchaser the Creditor Agreement, the form of which is attached hereto as Exhibit "A," executed by T▇▇▇▇▇ ▇. ▇▇▇▇▇.
Creditor Agreements. (a) Each of CSDC and Manager agree that it shall not, after the date hereof, without the prior written consent of Bank, which shall not be unreasonably withheld or delayed, amend, renew, extend, restate or otherwise modify in any manner their respective Creditor Agreements or the Hotel Lease to which it is a party, except, subject to the limitations of Section 7.15, CSDC may amend the CSDC Loan Agreements as requested by HUD.
(b) CSDC and Manager hereby acknowledge that no Default or Event of Default under the Creditor Agreements to which it is a party exists as of the date hereof nor has been or will be caused by the execution, delivery and performance of this Agreement, the Creditor Agreements to which it is a party, the Collateral or by the attachment and/or perfection of any Liens granted pursuant to the Collateral Documents.