Pari Passu Creditor definition

Pari Passu Creditor means with respect to any Group Member, any creditor under or in respect of any Indebtedness incurred by such Group Member (including in respect of any ECA Financing) which is not, as at 31 December 2020, secured by a Lien over a Vessel or which, at any time (whether pursuant to the operation of Clause 8.12(d) or otherwise), shares in the same security and/or guarantee package as the Lenders.
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Pari Passu Creditor has the meaning given to that term in the Intercreditor Agreement. “Party” means a party to this Deed.
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Pari Passu Creditor means any of the Secured Creditors (collectively, the “Pari Passu Creditors”).
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Examples of Pari Passu Creditor in a sentence

  • If more than one Purchasing Pari Passu Creditor wishes to exercise the option to purchase the Super Senior Lender Liabilities in accordance with paragraph (a) above, each such Purchasing Pari Passu Creditor shall acquire the Super Senior Lender Liabilities pro rata, in the proportion that its Credit Participation bears to the aggregate Credit Participations of all the Purchasing Pari Passu Creditors.

  • Any Purchasing Pari Passu Creditors wishing to exercise the option to purchase the Super Senior Lender Liabilities shall inform the Senior Creditor Representatives in accordance with the terms of the Pari Passu Finance Documents, who will determine (consulting with each other as required) the appropriate share of the Super Senior Lender Liabilities to be acquired by each such Purchasing Pari Passu Creditor and who shall inform each such Purchasing Pari Passu Creditor accordingly.

  • No Pari Passu Creditor may take any Enforcement Action under paragraphs (c), (d) or (e) of that definition without the prior written consent of an Instructing Group.

  • The provisions of this Clause 4 insofar as they relate to Issuing Banks and Ancillary Lenders shall only apply to restrict or, as the case may be, permit the actions of any Issuing Bank or Ancillary Lender where the underlying Liabilities owed to that Issuing Bank or Ancillary Lender are Pari Passu Creditor Liabilities.


More Definitions of Pari Passu Creditor

Pari Passu Creditor means, at any time, the Senior Creditors and the Senior Secured Notes Creditors.
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Related to Pari Passu Creditor

  • Pari Passu Debt means (a) any Debt of the applicable Issuer that ranks equally in right of payment with the Notes or (b) with respect to any Guarantee, any Debt that ranks equally in right of payment to such Guarantee.

  • Second Lien Noteholders means the holders of Second Lien Notes.

  • Second Lien Notes Trustee “Second Lien Noteholder”, “High Yield Agent”, “HY Borrower”, “High Yield Creditor”, “High Yield Lender”, “Unsecured Agent”, “Unsecured Borrower”, “Unsecured Creditor”, “Unsecured Lender”, “Security Agent”, “Security Grantor”, “Senior Agent”, “Senior Arranger”, “Senior Borrower”, “Senior Creditor”, “Senior Guarantor”, “Senior Lender”, “Senior Secured Notes Guarantor”, “Senior Secured Notes Issuer”, “Senior Secured Notes Trustee”, “Senior Secured Noteholder”, “Subordinated Creditor”, “Permitted Affiliate Parent” or the “Company” shall be construed to be a reference to it in its capacity as such and not in any other capacity;