Pari Passu Provisions definition

Pari Passu Provisions means, in relation to any amount payable pursuant to Section 2.04:
Sample 1Sample 2Sample 3
Pari Passu Provisions means that to the extent there is an insufficient amount of Interest Proceeds or Principal Proceeds denominated in Sterling, Dollars or Euro to meet the aggregate payment obligations falling due pursuant to the same paragraph of the Pre-Enforcement Priorities of Payment and the Post-Enforcement Priority of Payment to which these Pari Passu Provisions are specified as applying, subject to the Class A Note Redemption Method if applicable, the amounts payable pursuant to such paragraph shall be adjusted so that the shortfall is borne in equal proportion by all such liabilities regardless of their currency of denomination (determined by converting the amount of any Sterling liabilities and Dollar liabilities into Euro at the then prevailing Spot Rate) and effected by converting proceeds denominated in Sterling, Dollars or Euro, as applicable, into the other currency(ies) at the then prevailing Spot Rate to the extent required to ensure that such shortfall is borne equally on the basis specified above and applying such amounts towards the liabilities denominated in the same currency.
Sample 1
Pari Passu Provisions means those provisions set out in Condition 3(c)(v) (Pari Passu Provisions).
Sample 1Sample 2

Examples of Pari Passu Provisions in a sentence

  • The Servicer shall and, if the Servicer fails to do so, the Administrative Agent may, instruct the Collateral Agent, subject to the Pari Passu Provisions, to apply funds on deposit in the Controlled Accounts as described in this Section 2.04; provided that, at any time after delivery of any Notice of Exclusive Control following an Event of Default, the Administrative Agent shall instruct the Collateral Agent to apply funds on deposit in the Controlled Accounts as described in this Section 2.04.


More Definitions of Pari Passu Provisions

Pari Passu Provisions means, in relation to any amount payable pursuant toSection 2.04:
Sample 1

Related to Pari Passu Provisions

  • 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.

  • Pari Passu Obligations means Unsecured Debt (exclusive of the Notes, this Agreement and any Subsidiary Guarantee) of the Company or any Subsidiary Guarantor owing to a Person that is not the Company or an Affiliate thereof.

  • Pari Passu Intercreditor Agreement means a pari passu intercreditor agreement among the Administrative Agent and one or more Senior Representatives for holders of Indebtedness secured by Liens on the Collateral that are pari passu with the Liens on the Collateral securing the Senior Credit Obligations, in form and substance reasonably satisfactory to the Administrative Agent.

  • Pari Passu Indebtedness means Indebtedness of the Company which ranks equally in right of payment to the Notes or of any Guarantor if such Indebtedness ranks equally in right of payment to the Guarantees of the Notes.

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Senior Note Indentures means, collectively, the Senior Note (2020) Indenture, the Senior Note (2021) Indenture, the Senior Note (2022) Indenture and the Senior Note (2023) Indenture.

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Second Lien Notes Documents means the Second Lien Notes Indenture, the Second Lien Notes and all other agreements, instruments and other documents pursuant to which the Second Lien Notes have been or will be issued or otherwise setting forth the terms of the Second Lien Notes.