Dutch Parallel Debt definition

Dutch Parallel Debt means, in relation to an Underlying Debt, an obligation to pay the Collateral Agent an amount equal to (and in the same currency as) the amount of that Underlying Debt.

Dutch Parallel Debt has the meaning given in Section 12.18(a).

Dutch Parallel Debt means, with respect to any Loan Party and in any given currency at any given time, an amount equal to the aggregate amount of such Loan Party’s Underlying Debt Obligations at such time expressed in the currency thereof.

Examples of Dutch Parallel Debt in a sentence

• The parties hereto acknowledge and agree that, for purposes of a Dutch pledge, any resignation by the Administrative Agent is not effective until its rights under the Dutch Parallel Debt are assigned to the successor Administrative Agent.

• Neither the Borrower nor any Guarantor shall be obliged to pay any Dutch Parallel Debt before the corresponding Underlying Debt has fallen due.

• After repeating this step, the infiltrate containing the tube was collected and stored at -20°C for analysis.

• The parties hereto agree that a Default in respect of the Secured Obligations entered into by the Dutch Borrower or the UK Borrower shall constitute a default (verzuim) within the meaning of Article 3:248 Dutch Civil Code with respect to the Dutch Parallel Debt as well without any notice being required therefor.

• If any Underlying Debt is avoided or reduced (other than as a result of payment to, or recovery or discharge by, the Agent or the Lenders to which the Underlying Debt is owed, or otherwise with the consent of that Agent or Lender), then the amount of the Dutch Parallel Debt corresponding to that Underlying Debt shall be equal to the amount which the Underlying Debt would have had if the avoidance or reduction had not occurred.

More Definitions of Dutch Parallel Debt

Dutch Parallel Debt has the meaning given to it in clause 16.2 (Parallel Debt) of the Framework Agreement.

Dutch Parallel Debt has the meaning assigned to such term in Article VIII.

Dutch Parallel Debt has the meaning assigned to such term in the Loan Guaranty.

Dutch Parallel Debt means any amount which a Loan Party owes to the Agent under this Clause.

Dutch Parallel Debt as defined in the Netherlands Pledge Agreement.

Dutch Parallel Debt is defined in Section 10.15 hereof.

Dutch Parallel Debt means, in relation to any of the NL Obligors, an amount equal to the aggregate of that NL Obligor’s Corresponding Debts at that time.