Dutch Parallel Debts. (a) The Borrower and each Guarantor undertake with the Collateral Agent to pay to the Collateral Agent its Dutch Parallel Debts. (b) Paragraph (a) of this Clause is: (i) for the purpose of ensuring and preserving the validity and effect of the Security Documents governed by Dutch law; and (ii) without prejudice to the other provisions of the Loan Documents. (c) Each Dutch Parallel Debt is a separate and independent obligation and shall not constitute the Collateral Agent and any Lender as joint creditors of any Underlying Debt.
Appears in 3 contracts
Samples: Amendment and Restatement Agreement (Pyxus International, Inc.), Term Loan Credit Agreement (Pyxus International, Inc.), Term Loan Credit Agreement (Pyxus International, Inc.)
Dutch Parallel Debts. (a) The Borrower and each Guarantor undertake undertakes with the Collateral Agent to pay to the Collateral Agent its Dutch Parallel Debts.
(b) Paragraph (a) of this Clause is:
(i) for the purpose of ensuring and preserving the validity and effect of the Security Documents governed by Dutch law; and;
(ii) without prejudice to the other provisions of the Loan Documents.; and
(ciii) Each each Dutch Parallel Debt is a separate and independent obligation and shall not constitute the Collateral Agent and any Lender as joint creditors of any Underlying Debt.
Appears in 2 contracts
Samples: Credit Agreement (Pyxus International, Inc.), Restructuring Support Agreement (Pyxus International, Inc.)
Dutch Parallel Debts. (a) The Borrower Company and each Guarantor Grantor undertake with the Senior Collateral Agent to pay to the Senior Collateral Agent its Dutch Parallel Debts.
(b) Paragraph (a) of this Clause Section is:
(i) for the purpose of ensuring and preserving the validity and effect of the Security Senior Documents governed by Dutch law; and
(ii) without prejudice to the other provisions of the Loan Senior Documents.
(c) Each Dutch Parallel Debt is a separate and independent obligation and shall not constitute the Senior Collateral Agent and any Lender Senior Holder as joint creditors of any Underlying Debt.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Pyxus International, Inc.)
Dutch Parallel Debts. (a) The Borrower and each Guarantor undertake with the Senior Collateral Agent to pay to the Senior Collateral Agent its Dutch Parallel Debts.
(b) Paragraph (a) of this Clause is:
(i) for the purpose of ensuring and preserving the validity and effect of the Security Documents governed by Dutch law; and
(ii) without prejudice to the other provisions of the Loan Documents.
(c) Each Dutch Parallel Debt is a separate and independent obligation and shall not constitute the Senior Collateral Agent and any Lender as joint creditors of any Underlying Debt.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Pyxus International, Inc.)
Dutch Parallel Debts. (ai) The Each of the Borrower and each Guarantor undertake the Guarantors undertakes with the Collateral Agent to pay to the Collateral Agent its Dutch Parallel Debts.
(bii) Paragraph (aThis Section 5.18(a) of this Clause is:
(iA) for the purpose purposes of ensuring and preserving the validity and effect of any security interest in the Security Documents Collateral which is governed by Dutch lawthe laws of The Netherlands and granted or to be granted by Borrower or any Guarantor pursuant to the terms of the Credit Documents; and
(ii) without prejudice to the other provisions of the Loan Documents.
(c) Each Dutch Parallel Debt is a separate and independent obligation and shall not constitute the Collateral Agent and any Lender as joint creditors of any Underlying Debt.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Proliance International, Inc.)
