Receiving Creditor definition

Receiving Creditor shall have the meaning assigned thereto in Section 2.
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Receiving Creditor shall have the meaning assigned thereto in Section 4.
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Receiving Creditor has the meaning assigned in Section 2.
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Examples of Receiving Creditor in a sentence

  • Without limiting the rights and remedies of the other Creditors, to the extent the Wrong Payments have been received and applied by the Receiving Creditor making the turnover of the same impossible, the Receiving Creditor agrees that such Wrong Payments shall be netted against future payments to which it is entitled under the relevant Financing Documents.

  • Accordingly, each Creditor hereby agrees that in the event (a) an event described in clauses (x) or (y) above shall have occurred, (b) any Creditor shall receive a Sharing Payment (a "Receiving Creditor"), and (c) any other Creditor shall not concurrently receive its Pro Rata Share of Sharing Payments from the same Subsidiary Guarantor or THC Systems, Inc.

  • Each Obligor and each Creditor agrees that, to the extent a Receiving Creditor does not retain all or any portion of a Shared Payment, such Receiving Creditor shall be deemed to have only applied the amount retained by such Receiving Creditor in payment of the Obligations owing to such Receiving Creditor.

  • Upon the appointment of the Distribution Agent, each Receiving Creditor shall remit any amounts subject to sharing under this Section 2.1 to the Distribution Agent for distribution in accordance with such procedures.

  • Failure to appoint a Distribution Agent shall not impair, or otherwise give rise to any defense to, the obligation on the part of any Receiving Creditor to share Subsidiary Payments with Affected Creditors in accordance with this Section 2.

  • Such Receiving Creditor shall be held harmless, and have no liability (except for its own gross negligence or willful misconduct) to any of the other Creditors (other than the obligation to pay Excess Subject Payments to such other Creditors pursuant to the terms hereof) for making payments in accordance with certificates of the Creditors and determinations made in good faith by such Receiving Creditor.

  • Whenever any Receiving Creditor receives a Subject Payment, it shall notify the other Creditors of such receipt and request that each such Creditor certify in writing the existence and amount of the Subject Obligations owed to such Creditor.

  • Any Receiving Creditor that sells a participation interest in Subject Obligations pursuant to the foregoing provisions of this paragraph shall retain all of such Creditor’s rights and obligations under this Agreement and applicable Facility Documents, including, without limitation, the right to enforce the provisions of this Agreement and the underlying Facility Documents and to approve any amendment, modification or waiver thereof.

  • By their signatures below, each of the Company and the Subsidiary Guarantors, on behalf of themselves and each of their subsidiaries, consents to any such acquisition by the Receiving Creditor of a direct interest in such obligations and agrees to cooperate in connection with the conversion of such participation interests into direct interests.

  • Upon the appointment of the Distribution Agent, each Receiving Creditor shall remit any Shared Payment received by it to the Distribution Agent for distribution in accordance with Section 3.2 hereof.


More Definitions of Receiving Creditor

Receiving Creditor shall have the meaning assigned thereto in ss.2.
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Receiving Creditor is defined in Section 2.1.
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Receiving Creditor has the meaning set forth in Section 3.2 of this Agreement.
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Receiving Creditor shall have the meaning assigned thereto in (S)
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Receiving Creditor has the meaning given to it in Clause 9.4 (Redistribution Payments).
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Receiving Creditor shall have the meaning assigned thereto in Section 2. "Second Amendment" shall have the meaning assigned thereto in the Recitals hereof. "Special Trust Account" shall have the meaning assigned thereto in Section 2.2. "Specified Amount" shall mean, as to any Creditor, the aggregate amount of the Subject Obligations owed to such Creditor. "Subject Obligations" shall mean (i) all principal of, premium, if any, and interest on, the Notes and the Loans and all other obligations of any of the Obligors under or in respect of the Notes and the Loans and under the Note Purchase Agreements and the Loan Agreement and any other obligations of any of the Obligors to the Banks or the Noteholders which are guaranteed by the Bank Guaranty or the Noteholder Guaranty and (ii) all principal of, premium, if any, and interest on, the obligations of the Subsidiary Guarantors under or in respect of the agreements and documents referred to in Section 3.4 hereof pursuant to which other Persons have become creditors of the Subsidiary Guarantors and "Creditors" hereunder as contemplated in Section 3.4 hereof; provided that any amount of such Subject Obligations which is not allowed as a claim enforceable against an Obligor in a Bankruptcy Proceeding under applicable law shall be excluded from the computation of "Subject Obligations" hereunder. "Subsidiary" shall have the meaning set forth in the Note Purchase Agreements as in effect on the date hereof. "Subsidiary Agreements" shall have the meaning assigned thereto in the Recitals hereof. "Subsidiary Borrowers" shall have the meaning set forth in the Recitals hereof.
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Related to Receiving Creditor

  • Receiving Bank means the bank to which the sender's instruction is addressed.

  • Receiving Party Personnel has the meaning set forth in Section 37(d).

  • Receiving Party means the Party receiving Confidential Information.

  • Receiving zone means an area of a municipality that the municipality

  • Receiving facility means a structure that is designed to receive septage waste for treatment at a wastewater treatment plant or at a research, development, and demonstration project authorized under section 11511b to which the structure is directly connected, and that is available for that purpose as provided for in an ordinance of the local unit of government where the structure is located or in an operating plan. Receiving facility does not include either of the following:

  • Discloser means that Party to this Agreement which has disclosed Confidential Information to the other Party.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Receiving Institution The college or university where a transfer student plans to enroll and to apply previously earned credit toward a degree program.

  • Term Loan Administrative Agent means the administrative agent under the Term Loan Agreement

  • Disclosing Party means the Party disclosing Confidential Information.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • First Lien Administrative Agent means the “Administrative Agent” as defined in the First Lien Credit Agreement.

  • Term Administrative Agent shall have the meaning set forth in the recitals hereto.

  • ABL Administrative Agent means Bank of America in its capacity as administrative agent and collateral agent under the ABL Facilities Documentation, or any successor administrative agent and collateral agent under the ABL Facilities Documentation.

  • Benefited Parties means persons, firms, or corporations that enter into ancillary facilities with the authority according to the provisions of this act.

  • Second Lien Claimholders means, at any relevant time, the holders of Second Lien Obligations at that time, including the Second Lien Lenders and the agents under the Second Lien Loan Documents.

  • Receiving judge means the poll worker that checks the voter's name in the

  • Supplier Representative means the representative appointed by the Supplier from time to time in relation to this Framework Agreement;

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Customer Representative means the representative appointed by the Customer from time to time in relation to this Call Off Contract;

  • Second Lien Agent has the meaning set forth in the Intercreditor Agreement.

  • First Lien Claimholders means, at any relevant time, the holders of First Lien Obligations at that time, including the First Lien Lenders and the agents under the First Lien Loan Documents.

  • DIP Lender means a lender under the DIP Facility.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

  • Receiving water means any lake, river, stream or wetland that receives stormwater discharges from an MS4.