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 shall have the meaning provided in Section 12.12(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.

• Without prejudice to the previous sentence, no Loan Party shall be obliged to pay any Dutch Parallel Debt before the corresponding Underlying Debt has fallen due.

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

• The Dutch Parallel Debt will be payable in the currency or currencies of the corresponding Secured Obligations.

• Any obligation under the Dutch Parallel Debt shall become due and payable (opeisbaar) as and when and to the extent one or more of the corresponding Secured Obligations become due and payable.

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 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.

Dutch Parallel Debt as defined in the Netherlands Pledge Agreement.

Dutch Parallel Debt is defined in Section 10.15 hereof.