Creditors Allowed Sample Clauses

Creditors Allowed. The concept of Creditors Allowed is only applicable for the cases of Guaranteed Indebtedness Allowed. The Creditors Allowed shall have the Grantor’s authorization to accredit their status as such. To that end, the Creditor Allowed may be: i. Any multilateral lending institution of which the State of the Republic of Peru is a member; ii. Any institution, export credit agency or government agency of any country with which the State of the Republic of Peru maintains diplomatic relations; iii. Any international financial institution classified as a First-Class Bank in Circular Letter No. 030- 2018-BCRP, issued by the Central Reserve Bank of Peru, or any other circular letter that subsequently amends or replaces it, but only to the extent that it incorporates new institutions. iv. Any other international financial institution with a risk rating not lower than Peru’s sovereign debt rating corresponding to a long-term foreign currency assigned by an international risk agency grading the Republic of Peru. v. Any national financial institution with a local risk rating not lower than (“A”), evaluated by a national risk rating agency duly authorized by the Superintendency of the Stock Market (SMV, by its Spanish initials); vi. All institutional investors, seen as such by the prevailing legal regulations (such as Pension Fund Administrators – AFP), that directly or indirectly acquire any type of transferable security issued by i) the Concession Holder, ii) the trustee or securitization firm established in Peru or abroad that acquires rights and/or assets derived from the Concession Contract; vii. Any natural or legal person that directly or indirectly acquires any type of transferable security or debt instrument issued by the Concession Holder by public or private tender or by means of a trust fund, investment funds, or securitization firm established in Peru or abroad. It is expressly stated that under no circumstances shall be allowed for the shareholders, partners or capital holders of the Concession Holder to be -directly or indirectly- Creditors Allowed. The Creditors Allowed shall not belong to the same economic group, as set out in Resolution SMV 019- 2015-SMV/01 or standard superseding it. In the situations indicated in subparagraphs (i) through (v), to be considered a Creditor Allowed, it shall have such a condition at the date of signing its corresponding financing Contract. In the case of syndicated loans, the Creditors Allowed may be represented by an Admi...
Sample 1See All (4)
AutoNDA by SimpleDocs

Related to Creditors Allowed

  • Creditors’ process Any expropriation, attachment, sequestration, distress or execution affects any asset or assets of the Borrower.

  • Liquidation Distributions All property and all cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed to the Partners in accordance with, and to the extent of, the positive balances in their respective Capital Accounts, as determined after taking into account all Capital Account adjustments (other than those made by reason of distributions pursuant to this Section 12.4(c)) for the taxable year of the Partnership during which the liquidation of the Partnership occurs (with such date of occurrence being determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(g)), and such distribution shall be made by the end of such taxable year (or, if later, within 90 days after said date of such occurrence).

  • Preferential Collection of Claims If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Notes), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of the claims against the Company (or any such other obligor).

  • Bankruptcy Code Title 11 of the United States Code, as the same may be amended from time to time.

  • Preferential Collection of Claims Against Company The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein.

  • Liquidation Distribution Distributions made upon dissolution of the Partnership shall be made as provided in Section 9.03.

  • Preferential Collection of Claims Against the Company The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.

  • Preferential Collection of Claims Against Issuer The Indenture Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated.

  • Preferential Collection of Claims Against Depositor or Trust In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other similar judicial proceeding relative to the Trust or any other obligor upon the Trust Securities or the property of the Trust or of such other obligor or their creditors, the Property Trustee (irrespective of whether any Distributions on the Trust Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Property Trustee shall have made any demand on the Trust for the payment of any past due Distributions) shall be entitled and empowered, to the fullest extent permitted by law, by intervention in such proceeding or otherwise: (a) to file and prove a claim for the whole amount of any Distributions owing and unpaid in respect of the Trust Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Property Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Property Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Property Trustee and, in the event the Property Trustee shall consent to the making of such payments directly to the Holders, to pay to the Property Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Property Trustee, its agents and counsel, and any other amounts due the Property Trustee. Nothing herein contained shall be deemed to authorize the Property Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement adjustment or compensation affecting the Trust Securities or the rights of any Holder thereof or to authorize the Property Trustee to vote in respect of the claim of any Holder in any such proceeding.

  • Preferential Collection of Claims Against Issuers The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!