Parallel Debt Claim definition

Parallel Debt Claim has, with respect to the Borrower or a PD Subsidiary Guarantor, the meaning given to it in paragraph (2) below.
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Parallel Debt Claim means any amount which the Issuer owes to the Security Agent pursuant to Clause (b) below.
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Examples of Parallel Debt Claim in a sentence

  • A defect affecting a Secured Party Claim against a Loan Party will not affect any UAE Parallel Debt Claim.

  • The retiring Collateral Agent will reasonably cooperate in assigning its rights under any Collateral Agent Parallel Debt Claim to any such successor Collateral Agent and will reasonably cooperate in transferring all rights under any Collateral governed by German law to such successor Collateral Agent.

  • For the purposes of Belarusian law, the Administrative Agent is the joint and several creditor with each other Secured Party in respect of each Secured Party Claim, having an independent right to demand and enforce payment of each Belarus Parallel Debt Claim on the terms set out in clauses (v) to (xii) below.

  • Notwithstanding anything to the contrary contained herein, the Parties hereto acknowledge and agree that any resignation by Collateral Agent shall not be effective with respect to its rights and obligations under any Collateral Agent Parallel Debt Claim or the Collateral which secures such Collateral Agent Parallel Debt Claim until such rights and obligations have been assigned to, and assumed by, the successor Collateral Agent.

  • The Collateral Agent’s right to enforce the Collateral Agent Parallel Debt Claim includes, without limitation, the exercise of any remedy available to the Collateral Agent under this Agreement or any other Loan Document, in law or in equity.

  • Each Collateral Agent Parallel Debt Claim will be payable in the currency or currencies of the relevant Corresponding Obligations.