Common use of Sums deemed due to a Creditor Party Clause in Contracts

Sums deemed due to a Creditor Party. For the purposes of this Clause 25, a sum payable by the Borrower to the Agent or the Security Trustee for distribution to, or for the account of, any Creditor Party shall be treated as a sum due to that Creditor Party; and each Creditor Party’s proportion of a sum so payable for distribution to, or for the account of, the Creditor Parties shall be treated as a sum due to such Creditor Party.

Appears in 3 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.), Execution Version (Navios Maritime Containers Inc.)

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Sums deemed due to a Creditor Party. For the purposes of this Clause 25, a sum payable by the Borrower Borrowers (or any of them) to the Agent or the Security Trustee for distribution to, or for the account of, any Creditor Party shall be treated as a sum due to that Creditor Party; and each Creditor Party’s proportion of a sum so payable for distribution to, or for the account of, the Creditor Parties shall be treated as a sum due to such Creditor Party.

Appears in 1 contract

Samples: Agreement (Navios Maritime Containers Inc.)

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Sums deemed due to a Creditor Party. For the purposes of this Clause 25, a sum payable by the Borrower Borrowers to the Agent or the Security Trustee for distribution to, or for the account of, any Creditor Party shall be treated as a sum due to that Creditor Party; and each Creditor Party’s proportion of a sum so payable for distribution to, or for the account of, the Creditor Parties shall be treated as a sum due to such Creditor Party.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

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