Parallel Debt (Covenant to pay the Security Agent)
Parallel Debt (Covenant to pay the Security Agent)), the Security Agent agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Security Agent in accordance with the foregoing provisions of this Clause 30 (The Security Agent).
Parallel Debt (Covenant to pay. (a) Each Note Party, by way of an independent payment obligation, hereby irrevocably and unconditionally undertakes to pay to the Collateral Agent, as creditor in its own right and not as representative of the other Secured Parties, any amounts owing from time to time by that Note Party to any Secured Party (other than the Collateral Agent) under any of the Note Documents (its “Corresponding Debt”), as and when those amounts are due (such Note Party’s payment and undertaking pursuant to this paragraph (a), its “Parallel Debt”).
Parallel Debt (Covenant to pay. (a) The Issuer, by way of an independent payment obligation, hereby irrevocably and unconditionally undertakes to pay to the Indenture Trustee, as creditor in its own right and not as representative of the other Secured Parties, any amounts owing from time to time by the Issuer to any Secured Party (other than the Indenture Trustee) under any of the Transaction Documents (its “Corresponding Debt”), as and when those amounts are due (such Issuer’s payment and undertaking pursuant to this clause (a), its “Parallel Debt”). 143
Parallel Debt (Covenant to pay the Security Agent)) and Clause 11.3 (Notes Parallel Debt (Covenant to pay the Security Agent)) of the Amended Intercreditor Agreement.
Parallel Debt (Covenant to pay the Security Trustee)), the Security Trustee agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Security Trustee in accordance with the provisions of Clause 34.1 (Order of Application).
