Parallel Liability definition

Parallel Liability means a Loan Party’s undertaking pursuant to Section 9.17 hereto and Section 5.14 of the Guarantee Agreement.

Parallel Liability means a Credit Party’s undertaking pursuant to 10.27.

Parallel Liability means a Loan Party’s undertaking pursuant to this Section 11.13. Each Loan Party irrevocably and unconditionally undertakes to pay to the Collateral Agent an amount equal to the aggregate amount of its Corresponding Liabilities (as these may exist from time to time). For purposes of this Section 11.13: (a) a Loan Party’s Parallel Liability is due and payable at the same time as, for the same amount of and in the same currency as its Corresponding Liabilities; (b) a

Examples of Parallel Liability in a sentence

• Without limiting the generality of the foregoing, the Collateral Documents and all of the Liens on the Collateral described therein do and shall continue to secure the payment of all Obligations (including, the Obligations of the Loan Parties under the Loan Documents, in each case, as amended by this Amendment) and each Parallel Liability.

• In this Section 9.13, “Corresponding Liabilities” means all present and future liabilities and contractual and non-contractual obligations of Loan Party under or in connection with this Agreement and the other Loan Documents, but excluding its Parallel Liability.

• In this Section 14.15, (x) “Corresponding Liabilities” means the obligation of a Loan Party, but excluding its Parallel Liability and (y) “Parallel Liability” means a Loan Party’s undertaking pursuant to this Section 14.15.

• Upon a transfer by the Pledgee of any rights in respect of the Parallel Liability, the transferee will become entitled to the Pledge.

• In this Section 11.07(b), “Corresponding Liabilities” means all present and future liabilities and contractual and non-contractual obligations of a Seller Party under or in connection with this Agreement and the other Transaction Documents, but excluding its Parallel Liability.

More Definitions of Parallel Liability

Parallel Liability means a Loan Party’s undertaking pursuant to Section 10.26.

Parallel Liability has the meaning specified in Section 10.13 [Parallel Liability].

Parallel Liability means the Borrower's undertaking pursuant to this Section 11.24.

Parallel Liability means an Obligor's undertaking pursuant to this Section 20.

Parallel Liability has the meaning set forth in Section 14.15. Parent - as defined in the preamble to this Agreement. Participant - as defined in Section 13.2.1. Participant Register - as defined in Section 13.2.4. Patent License - any written agreement, now or hereafter in effect, granting to any third party any right to develop, commercialize, import, make, have made, offer for sale, use or sell any invention on which a Patent, now or hereafter owned by any Loan Party or that any Loan Party otherwise has the right to license, is in existence, or granting to any Loan Party any such right with respect to any invention on which a Patent, now or hereafter owned by any third party, is in existence, and all rights of any Loan Party under any such agreement. Patents - all of the following now owned or hereafter acquired by any Loan Party: (a) all letters patent of the United States or the equivalent thereof in any other country, all registrations and recordings thereof, and all applications for letters patent of the United States or the equivalent thereof in any other country, including registrations, recordings and pending applications in the United States Patent and Trademark Office or any similar offices in any other country, including those listed on Schedule 1.1(g), (b) all rights and privileges arising under Applicable Law with respect to such Loan Party’s use of any Patents, (c) all inventions and improvements described and claimed therein, (d) all reissues, divisions, continuations, renewals, extensions and continuations-in-part thereof and amendments thereto, (e) all income, fees, royalties, damages, claims and payments now or hereafter due and/or payable with respect to any of the foregoing including damages and payments for past, present or future infringements thereof, (f) all rights corresponding thereto throughout the world and (g) rights to sue for past, present or future infringements thereof. Patriot Act - the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001).

Parallel Liability has the meaning specified in Section 10.13 [Parallel Liability]. Participant has the meaning specified in Section 11.9.4 [Participations]. Participant Register shall have the meaning specified in Section 11.9.4 [Participations]. Participation Advance shall have the meaning specified in Section 2.8.3 [Disbursements, Reimbursement].

Parallel Liability has the meaning given to that term in the Credit Agreement.