Parallel Obligations definition

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.

Parallel Obligations shall have the meaning assigned to such term in Section 9.24(a).

Parallel Obligations means, in relation to Bonds that are granted priority in respect of the statutory security in accordance with the Covered Bond Act, any (i) Outstanding Bonds that are granted priority in respect of the statutory security in accordance with the Covered Bond Act, (ii) liabilities of the Issuer under Derivative Contracts, and (iii) all other obligations of the Issuer which are granted the same priority in respect of the statutory security in accordance with the Covered Bond Act.

Examples of Parallel Obligations in a sentence

This shall apply accordingly in the event of a good discharge of the German Parallel Obligations to the corresponding Principal Obligations.
In the event of a good discharge of the Principal Obligations the Administrative Agent shall not be entitled any more to demand payment of the corresponding German Parallel Obligations and such German Parallel Obligations shall cease to exist.
This shall apply accordingly in the event of a good discharge of the Parallel Obligations to the corresponding Principal Obligations.
The error from the pure matter assump- tion has not been fully accounted for by this method, because we do not test the error in the numerical value of TΦ(krlss 0) when we normalize the quadrupole to the COBE result.
Any payment by any Loan Party of its Parallel Obligations shall to the same extent reduce and be a good discharge of the corresponding Original Obligations of such Loan Party owing to the relevant Secured Parties, and payment by any Loan Party of its Original Obligations to the relevant Secured Parties shall to the same extent reduce and be a good discharge of the Parallel Obligations owing by it to the Administrative Agent.

Parallel Obligations shall have the meaning given to the term in Section 2.14(d)(i).

Parallel Obligations means the Parallel Debt as described in Clause 17.2 of the Intercreditor Agreement, to the extent they constitute obligations for the payment of money (vorderingen tot voldoening van een geldsom);

Parallel Obligations as defined in Section 7.13(a)(i).

Parallel Obligations is defined in Section 9.9.

Parallel Obligations has the meaning given to that term in Clause 2.7 (Parallel Debt).

Parallel Obligations as defined in Section 12.16. Participant: as defined in Section 13.2.

Parallel Obligations has the meaning as that which is contained in the German Security Documents.