Parallel Debt Undertaking definition

Parallel Debt Undertaking as defined in Section 10.34(b).
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Parallel Debt Undertaking has the meaning specified therefor in Section 5.20(b).
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Examples of Parallel Debt Undertaking in a sentence

  • Each Parallel Debt Undertaking will become due and payable at the same time as the Corresponding Obligations become due and payable.

  • Such landscaping shall be planted at sufficient densities to discourage natural regeneration of tree species.

  • Each Notes Collateral Agent may therefore enforce performance of the Parallel Debt Undertaking in its own name as an independent and separate right.

  • The determination of the value of consideration for the Transactions is based on the price mutually agreed upon between TNLA, Noble, and PROUD, and is determined based on the fair value using the Adjusted Book Value Approach which refers to the fair value of land and buildings of real estate development projects appraised by independent appraisers.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Dutch Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the German Facility Obligations and the U.K./Dutch Facility Obligations.

  • The Foreign Collateral granted under the Foreign Security Documents to the Agent to secure the Parallel Debt Undertakings is granted to the Agent in its capacity as creditor of each Parallel Debt Undertaking and shall not be held on trust.

  • The aggregate amount outstanding under the Parallel Debt Undertaking will never exceed the aggregate amount outstanding under the Secured Obligations.

  • Upon complete and irrevocable satisfaction of the German Facility Obligations and the U.K./Dutch Facility Obligations, the Agent shall without undue delay at the cost and expense of the Obligors release the Parallel Debt Undertaking.

Related to Parallel Debt Undertaking

  • Parallel Debt has the meaning assigned to such term in Section 9.21.

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • Parallel Obligations means the independent obligations of any of the Grantors arising pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal to the sums owed by such Grantor to the other Secured Parties (or any of them) under the Credit Documents.

  • Group Undertaking means the Company or another undertaking in the group;

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • ABL Security Agreement means the Security Agreement (as defined in the ABL Credit Agreement).

  • Dutch Security Documents means the Dutch Security Agreements, the Dutch Share Pledges, and each other agreement, document or instrument executed by any Loan Party governed by Dutch law which provides for a Lien in favor of the Agent as security for any of the Obligations.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Guarantee and Security Agreement means that certain Guarantee and Security Agreement dated as of the Effective Date among the Borrower, the Administrative Agent, each Subsidiary of the Borrower from time to time party thereto, each holder (or an authorized agent, representative or trustee therefor) from time to time of any Secured Longer-Term Indebtedness or Secured Shorter-Term Indebtedness, and the Collateral Agent.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Existing Security Agreement has the meaning set forth in the recitals hereto.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • Guarantee and Adherence Agreement means the guarantee and adherence agreement pursuant to which the Guarantors shall, amongst other, (i) guarantee all amounts outstanding under the Finance Documents, including but not limited to the Bonds, plus accrued interests and expenses, (ii) agree to subordinate all subrogation claims, and (iii) undertake to adhere to the terms of the Finance Documents.

  • Subordinated Loan Agreement means the subordinated loan agreement dated on or about the Closing Date, as amended from time to time, and entered into by, amongst others, the Issuer, the Subordinated Lender and the Security Trustee, under which the Subordinated Lender will advance (or has advanced) the Subordinated Loan to the Issuer.

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • Related Secured Obligations means, as of any date, the outstanding principal amount of the Related Equipment Notes issued under each Related Indenture, the accrued and unpaid interest (including, to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) due thereon in accordance with such Related Indenture as of such date, the Related Make-Whole Amount, if any, with respect thereto due thereon in accordance with such Related Indenture as of such date, and any other amounts payable as of such date under the “Operative Documents” (as defined in each Related Indenture).

  • ABL Security Documents means any agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.