Parallel Debt Agreement definition

Parallel Debt Agreement means the parallel debt agreement entered into by the CBC, the Security Trustee and the Secured Parties (other than the Covered Bondholders) on the Programme Date.

Parallel Debt Agreement means the agreement entered into between, amongst others, ECL, the Issuer and the Security Agent under which the Issuer has (among others) undertaken to pay the parallel debt to the Security Agent.

Parallel Debt Agreement means that certain Parallel Debt Agreement dated as of the Closing Date between the Collateral Agent (and, pursuant to the powers of attorney granted by the Lenders pursuant to Section 11.20 hereof, each of the Lenders) and FMCAG (and, pursuant to the power of attorney granted to FMCAG by the other Credit Parties pursuant to Section 11.20 hereof, each other Credit Party), or any substantially similar agreement that creates an obligation of the Credit Parties (as debt acknowledgement or abstraktes Schuldanerkenntnis) in favor of the Collateral Agent under this Credit Agreement under the Law of Germany, in each case as amended or modified from time to time.

Examples of Parallel Debt Agreement in a sentence

• Consequently, in order to secure the valid creation of the pledges under the Pledge Agreements in favour of the Security Trustee, the CBC has in the Parallel Debt Agreement, as a separate and independent obligation, by way of parallel debt, undertaken to pay to the Security Trustee amounts equal to the amounts due by it to the Secured Creditors.

• The Noteholders are entitled to the benefit of, are bound by, and are deemed to have notice of, all the provisions of the Trust Deed, the Paying Agency Agreement, the Parallel Debt Agreement, the Pledge Agreements and the Master Definitions Agreement.

• The statements in these Conditions include summaries of, and are subject to, the detailed provisions of (i) the Trust Deed, which will include the forms of the Notes and Coupons, and the Temporary Global Notes and the Permanent Global Notes, (ii) the Paying Agency Agreement, (iii) the Servicing Agreement, (iv) the Parallel Debt Agreement and (v) the Pledge Agreements.

• Consequently, in order to secure the valid creation of the pledges under the Pledge Agreements in favour of the Security Trustee, the CBC has in the Parallel Debt Agreement, as a separate and independent obligation, by way of parallel debt, undertaken to pay to the Security Trustee amounts equal to the amounts due by it to the Secured Parties.

• Parallel Debt Agreement: On the Closing Date, the Issuer and the Security Trustee will among othersenter into the Parallel Debt Agreement for the benefit of the Security Beneficiaries under which the Issuer shall, by way of parallel debt, undertake to pay to the Security Trustee amounts equal to the amounts due by it to the Security Beneficiaries, in order to create a claim of the Security Trustee there under which can be validly secured by the rights of pledge created by the Pledge Agreements.

More Definitions of Parallel Debt Agreement

Parallel Debt Agreement means the second amended parallel debt agreement originally dated 19 September 2016 entered into between PRA Group Europe Holding S.à r.l. and DNB Bank ASA.

Parallel Debt Agreement means the Parallel Debt Agreement dated the Original Effective Date, among Credit Suisse AG, collateral agent for the French Lenders and collateral agent for the U.S. Lenders (each as defined therein), CGGVeritas Holding B.V. and CGGVeritas Marine B.V.

Parallel Debt Agreement means the second amended parallel debt agreement originally dated 19 September 2016 entered into between PRA Group Europe Holding S.à x.x. and DNB Bank ASA.

Parallel Debt Agreement means the parallel debt agreement entered into between PRA Group Europe Holding S.à x.x. as debtor and DNB Bank ASA as security agent (as amended on or about the date of the Sixth Amendment and Restatement Agreement and as further amended and/or amended and restated from time to time).

Parallel Debt Agreement means the Amended and Restated Parallel Debt Agreement dated as of the date hereof, among Holdings, Intermediate Holdings, the U.S. Borrower, the Subsidiary Loan Parties and the Collateral Agent, as amended, supplemented or otherwise modified from time to time.

Parallel Debt Agreement means the parallel debt agreement dated the Programme Date entered into by the CBC, the Security Trustee and the Secured Creditors (other than the Covered Bondholders and Achmea Hypotheken as Originator) substantially in the Agreed Form. means the Bank Savings Participation Agreement and the Insurance Savings Participation Agreement. means, in respect of each Savings Mortgage Receivable or Life Mortgage Receivable with a Savings Element which is subject to an Insurance Savings Participation, an amount equal to the net amount received or recovered multiplied by the Insurance Savings Participation divided by the Outstanding Principal Amount of such Savings Mortgage Receivable or Life Mortgage Receivable with a Savings Element, respectively.

Parallel Debt Agreement has the meaning given to that term in the Facility Agreement.