First Creditor definition

First Creditor means EBRD.
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First Creditor means Zenith Bank or its successor who shall accede to this Deed as a First Creditor.
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First Creditor means Zenith Bank or its successor who shall accede to this Deed as a First Creditor. "First Debt" means all Liabilities payable or owing by the Company to a First Creditor secured under the First Security Agreements. "First Security" means any Security Interest described in the First Security Agreements, to the extent it relates to the Export Proceeds. "First Security Agreements" means the security agreements listed in Schedule 2 (Security Agreements) as the first security agreements. "Holding Company" means, in relation to a person, any other person in respect of which it is a Subsidiary. "Liability" means any present or future liability (actual or contingent) whether or not matured or liquidated, together with:
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Examples of First Creditor in a sentence

  • The First Creditor consents to the creation and existence of the PXF Finance Documents.

  • Failing this, Zenith Bank (in the case of an appointment by a Second Creditor) or the PXF Facility Agent (in the case of an appointment by a First Creditor) may appoint another process agent for this purpose.

  • The First Creditor irrevocably and unconditionally waives any default by the Company under the Zenith Finance Documents arising from the execution or existence of the PXF Finance Documents.

  • The First Creditor hereby consents to the entry by the Merchant and each other person party to the Second Creditor Collateral Documents into the Second Creditor Collateral Documents in favour of the Second Creditor.

  • Unless expressly provided to the contrary in this Deed, the Collateral Documents and/or the net proceeds of enforcement of the guarantees and Security granted under the Collateral Documents shall rank pari passu in right and priority of payment to the extent of the First Creditor Limit Debt and the Second Credit Limit Debt.

  • The Second Creditor hereby consents to the entry by the Merchant and each other person party to the First Creditor Collateral Documents into the First Creditor Collateral Documents in favour of the First Creditor.

  • This Deed does not purport to rank the First Creditor Debt to the extent It exceeds the First Creditor Limit Debt or the Second Creditor Debt to the extent it exceeds the Second Creditor Limit Debt.


More Definitions of First Creditor

First Creditor means a First Lender, the Existing Overdraft Provider, the First Hedge Counterparty or the First Facility Agent.
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Related to First Creditor

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • The Bank means the State Bank of India (including domestic branches and foreign offices), Subsidiaries and Joint Ventures, where the Bank has ownership of more than 50% of voting securities or the power to direct the management and policies of such Subsidiaries and Joint Ventures:< Strike of whichever is inapplicable.>

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.