Creditor Parties definition
Examples of Creditor Parties in a sentence
If the Creditor Parties so request, any such obligation or indebtedness of any Borrower to the Company shall be enforced and performance received by the Company as trustee for the Creditor Parties and the proceeds thereof shall be paid over to the Creditor Parties on account of the Obligations, but without reducing or affecting in any manner the liability of the Company under this Guaranty.
If acceleration of the time for payment of any of the Obligations is stayed, in connection with any case commenced by or against the Company or any Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by the Company immediately upon demand by the Creditor Parties.
If any amounts are paid to the Company in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Creditor Parties and shall forthwith be paid to the Creditor Parties to reduce the amount of the Obligations, whether matured or unmatured.
Guarantors on the Closing Date 188191 ARTICLE XIII CONTINUING GUARANTY 189192 Section 13.1. Guaranty 189192 Section 13.2. Rights of Creditor Parties 189192 Section 13.3. Certain Waivers 189192 Section 13.4. Obligations Independent 190193 Section 13.5. Subrogation 190193 Section 13.6. Termination; Reinstatement 190193 Section 13.7. Subordination 190193 Section 13.8. Stay of Acceleration 191193 Section 13.9. Condition of Borrowers 191194 Section 13.10.
The Company hereby subordinates the payment of all obligations and indebtedness of any Borrower owing to the Company, whether now existing or hereafter arising, including but not limited to any obligation of any Borrower to the Company as subrogee of the Creditor Parties or resulting from the Company’s performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations.