Payment Liabilities definition

Payment Liabilities means all Liabilities other than contingent obligations of Borrower with respect to which neither Agent nor any Lender has asserted a claim against Borrower or against which Borrower has provided reserves or Collateral satisfactory to Agent or such Lender; provided, that Payment Liabilities shall include the Letter of Credit Obligations.
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Payment Liabilities has the meaning ascribed to it in Section 2.2.
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Examples of Payment Liabilities in a sentence

  • The foregoing appointment and power, being coupled with an interest, is irrevocable until all Payment Liabilities under this Agreement are paid and performed in full and this Agreement is terminated.

  • Distributing shall be allocated all TSA Payment Liabilities and TSA Payment Benefits and, in each case, any Taxes, Tax Items or Losses related thereto.

  • For the avoidance of doubt, the Excluded DE Lease Payment Liabilities shall be Excluded DE Liabilities.

  • Medicare, Medicaid, and Other Third-Party Payor Payment Liabilities.

  • Chapters cover: The Contractor’s main responsibilities the use of early warnings Contractor’s design Tendering Quality management Payment Liabilities and insurance Termination Avoiding and resolving disputes and much more.

  • Except during the existence and continuance of an Event of Default, all funds in Borrower's Depository Accounts shall be available to Borrower, at its direction (except to the extent such funds are to be applied to the Payment Liabilities as otherwise provided in this Agreement).

  • Such license shall remain in full force and effect until this Agreement has been terminated and all of the Payment Liabilities have been repaid in full.

  • Default in the payment, when due or declared due, of any amount of principal of any Revolving Loan, or default in the payment, within three (3) days after the same shall become due, of any of the other Payment Liabilities.

  • Any amounts remaining in any cash collateral account established pursuant to this paragraph (d) following the first to occur of the nonexistence of all Events of Default or the reimbursement in full of all Payment Liabilities in respect of outstanding Letter of Credit Obligations, shall be returned to Borrower.

  • During the continuance of an Event of Default, any proceeds of the Collateral and any other payments received by Agent may be applied by Agent to the payment of expenses in connection with the taking possession of, storing, preparing for sale, and disposition of Collateral, including Attorneys' Fees and legal expenses, and any balance of such proceeds may be applied by Agent toward the payment of such of the Payment Liabilities, and in such order of application, as Agent may from time to time elect.

Related to Payment Liabilities

  • Parent Liabilities shall have the meaning set forth in Section 2.3(b).

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

  • Current Liabilities are all obligations and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year.

  • Identified Contingent Liabilities means the maximum estimated amount of liabilities reasonably likely to result from pending litigation, asserted claims and assessments, guaranties, uninsured risks and other contingent liabilities of the Borrower and its Subsidiaries taken as a whole after giving effect to the Transactions (including all fees and expenses related thereto but exclusive of such contingent liabilities to the extent reflected in Stated Liabilities), as identified and explained in terms of their nature and estimated magnitude by responsible officers of the Borrower.

  • Employment Liabilities means all claims, demands, actions, proceedings, damages, compensation, tribunal awards, fines, costs (including but not limited to reasonable legal costs), expenses and all other liabilities whatsoever;