Paying Borrower definition

Paying Borrower has the meaning assigned to such term in Section 2.25(f).
Sample 1Sample 2Sample 3
Paying Borrower has the meaning specified in Section 2.14.
Sample 1Sample 2Sample 3
Paying Borrower shall have the meaning set forth in Section 10.29(b).
Sample 1Sample 2Sample 3

Examples of Paying Borrower in a sentence

  • In the event any Borrower (a “Paying Borrower”) shall make any payment or payments under this Loan Guaranty or shall suffer any loss as a result of any realization upon any collateral granted by it to secure its obligations under this Loan Guaranty, each other Borrower (each a “Non-Paying Borrower”) shall contribute to such Paying Borrower an amount equal to such Non-Paying Borrower’s “Applicable Percentage” of such payment or payments made, or losses suffered, by such Paying Borrower.

  • In no event shall any Paying Borrower be entitled to any payment from the other Borrowers in respect of any Accommodation Payment made by such Paying Borrower in excess of the amount of such Accommodation Payment.

  • The Lender shall be entitled to vote the rights of the Paying Borrower in any such proceeding or case, and the Lender’s right to vote is deemed a right coupled with an interest, irrevocable and fully enforceable by Lender so long as any amounts are owed under the Loan, including any contingent or continuing obligations [such as set aside letters, letters of credit or other conditional or continuing obligations].

  • Further, and in addition to having no right of subrogation, to the extent the Paying Borrower is or may at any time in the future be a creditor of the Obligated Borrower, the Paying Borrower assigns to lender the right to vote the Paying Borrower’s creditor rights as a creditor of the Obligated Borrower in any and all bankruptcy proceedings, insolvency proceedings or other cases or proceedings involving such Obligated Borrower’s debts.

  • Further, and in addition to having no right of subrogation, to the extent the Paying Borrower is or may at any time in the future be a creditor of the Obligated Borrower, the Paying Borrower assigns to Lender the right to vote the Paying Borrower’s creditor rights as a creditor of the Obligated Borrower in any and all bankruptcy proceedings, insolvency proceedings or other cases or proceedings involving such Obligated Borrower’s debts.

  • In no event shall any Paying Borrower be entitled to any payment from the other Borrower in respect of any Accommodation Payment made by such Paying Borrower in excess of the amount of such Accommodation Payment.

  • In the event any Borrower (a “Paying Borrower”) shall make any payment or payments under this Guarantee or shall suffer any loss as a result of any realization upon any collateral granted by it to secure its obligations under this Guarantee, each other Borrower (each a “Non-Paying Borrower”) shall contribute to such Paying Borrower an amount equal to such Non-Paying Borrower’s Applicable Share of such payment or payments made, or losses suffered, by such Paying Borrower.

  • Lender shall be entitled to vote the rights of the Paying Borrower in any such proceeding or case, and Lender’s right to vote is deemed a right coupled with an interest, irrevocable and fully enforceable by Lender so long as any amounts are owed under the Credit Facility, including any contingent or continuing obligations.

  • To this end, to the extent any Borrower’s assets or equity in any assets (the “Paying Borrower”) is used to pay or satisfy in whole or in part the obligations of any other Borrower (the “Obligated Borrower”), the Paying Borrower shall have no right of subrogation unless all amounts owed to Lender including principal, interest, all reimbursements of costs and expenses, and protective advances, and all contingent or continuing obligations are fully paid, satisfied and reimbursed.


More Definitions of Paying Borrower

Paying Borrower shall have the meaning set forth in Section 2.5(d).
Sample 1Sample 2
Paying Borrower has the meaning specified in Section 3.9(d).
Sample 1Sample 2
Paying Borrower shall have the meaning set forth in Section 13.01(d).
Sample 1
Paying Borrower means any Borrower who pays interest, principal or premium on behalf of any other Borrower (in such capacity, a “Beneficiary Borrower”) in respect of the applicable Beneficiary Borrower’s internally allocated portion of Term Loans, Second Lien Loans or the ABL Facility, as applicable.
Sample 1
Paying Borrower makes a payment in respect of principal and accrued interest hereunder and all costs, fees and expenses owing hereunder, including, without limitation, fees and disbursements of counsel (collectively, the "Joint Obligations") the proceeds or benefit or which were received by another Borrower (the "Underpaying Borrower"), such Paying Borrower shall be subrogated to the rights of the Lender against the Underpaying Borrower to the extent of such proceeds or benefit and shall have the right of contribution with respect to such payment set forth below against the other Borrowers (other than the Underpaying Borrower); provided that no Borrower shall enforce its rights of subrogation until all of the Joint Obligations have been paid in full and all credit facilities related thereto terminated. If any Paying Borrower makes a payment in respect of the Joint Obligations the proceeds of which were received by an Underpaying Borrower that is smaller in proportion to such Paying Borrower's Payment Share (as hereinafter defined) than the payments made by the other Borrowers in repayment of such Joint Obligations are in proportion to the amounts of their respective Payment Shares, the Borrower making such proportionately smaller payment shall, when permitted by the preceding sentence, pay to the other Borrowers (other than the Underpaying Borrower) an amount such that the net payments made by the Borrowers (other than the Underpaying Borrower) in respect of such Joint Obligations shall be shared among such Borrowers (other than the Underpaying Borrower) pro rata in proportion to their respective
Sample 1
Paying Borrower has the meaning set forth in Section 10.10.
Sample 1

Related to Paying Borrower

  • Funding Borrower shall have the meaning set forth in Section 20.12 hereof.

  • Purchasing Borrower Party means Holdings or any subsidiary of Holdings.

  • Canadian Subsidiary Guarantor each Canadian Subsidiary of any Canadian Borrower which executes and delivers the Canadian Guarantee and Collateral Agreement, in each case, unless and until such time as the respective Canadian Subsidiary Guarantor ceases to constitute a Canadian Subsidiary of the Parent Borrower or is released from all of its obligations under the Canadian Guarantee and Collateral Agreement in accordance with the terms and provisions thereof.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • German Borrower means (a) any Borrower that is a resident for tax purposes in Germany and (b) any Borrower in respect of which written notice is given to the Administrative Agent (by the Company) prior to that Borrower becoming a Borrower hereunder that such Borrower is resident in Germany for German tax purposes.

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Applicant Borrower has the meaning specified in Section 2.14.

  • Swiss Borrower means a Borrower incorporated in Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to Art. 9 of the Swiss Federal Withholding Tax Act.

  • Subsidiary Borrower means, individually and collectively, as the context requires, each Subsidiary that is or becomes a “Borrower” in accordance with Section 2.22; in each case, unless and until it becomes a “Terminated Subsidiary Borrower”.

  • Foreign Borrower means any Borrower that is organized under the laws of a jurisdiction other than the Unites States, a state thereof or the District of Columbia.

  • Paying Guarantor has the meaning assigned to such term in Section 10.11.

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

  • Dutch Borrower means any Borrower that is organized under the Laws of The Netherlands.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Note Paying Agent means the Trustee or any other Person that meets the eligibility standards for the Trustee specified in Section 6.11 and is authorized by the Issuer to make the payments to and distributions from the Collection Account and the Note Distribution Account, including payment of principal of or interest on the Notes on behalf of the Issuer.

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Paying Party shall have the meaning set forth in Section 5.7.

  • Wholly Owned Subsidiary Guarantor any Subsidiary Guarantor that is a Wholly Owned Subsidiary of the Borrower.

  • U.S. Subsidiary Guarantor means each U.S. Subsidiary which has executed and delivered to the U.S. Administrative Agent the U.S. Subsidiary Guaranty (or a supplement thereto).

  • Subsidiary Borrowers as defined in the preamble hereto.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Eligible Borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Subsidiary Guarantor means each Subsidiary that has executed and delivered a Subsidiary Guaranty.

  • Borrowing Subsidiary means any Subsidiary that has been designated as such pursuant to Section 2.18 and that has not ceased to be a Borrowing Subsidiary as provided in such Section.