Recovering Creditor definition

Recovering Creditor has the meaning ascribed to it in Clause 10.1.
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Recovering Creditor has the meaning given to it in Clause 24.1 (Payments to Secured Parties, High Yield Notes Finance Parties and High Yield Noteholders).
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Examples of Recovering Creditor in a sentence

  • The Security Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Secured Parties (other than the Recovering Creditor) in accordance with paragraph 19.1 (Order of application).

  • This paragraph 20 shall not apply to the extent that the Recovering Creditor would not, after making any payment pursuant to this paragraph 20, have a valid and enforceable claim against the relevant Obligor.

  • The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Creditor Parties (other than the Recovering Creditor Party) in accordance with Clause 19 and Clause 28.

  • On a distribution by the Security Agent under paragraph 29.2 (Redistribution of payments), the Recovering Creditor will be subrogated to the rights of the Secured Parties which have shared in the redistribution.

  • The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Creditor Parties (other than the Recovering Creditor Party) in accordance with Clause 19 (Application of Sums Received) and Clause 29 (Payment Mechanics).

  • If a Secured Party (a “Recovering Creditor”) makes a Recovery in respect of any amounts owed by the Company other than in accordance with Clause 11.1 (Order of Application) such Recovering Creditor shall not be entitled to retain such amount and shall notify the Security Agent and forthwith pay such amount to the Security Agent for application in accordance with Clause 11.1 (Order of Application).

  • If a Secured Party (a "Recovering Creditor") makes a Recovery in respect of any amounts owed by any ICA Group Company other than in accordance with Clause 14.1 (Order of Application) such Recovering Creditor shall not be entitled to retain such amount and shall notify the Security Agent and forthwith pay such amount to the Security Agent (or as directed by the Security Agent) for application in accordance with Clause 14.1 (Order of Application).

  • If a Secured Party (a "Recovering Creditor") makes a Recovery in respect of any amounts owed by any ICA Group Company other than in accordance with Clause 14.1 (Order of Application) such Recovering Creditor shall not be entitled to retain such amount and shall notify the Security Agent and forthwith pay such amount to the Security Agent for application in accordance with Clause 14.1 (Order of Application).

  • If a Secured Party (a "Recovering Creditor") makes a Recovery in respect of any amounts owed by any ICA Group Company other than in accordance with Clause 16.1 (Order of Application) such Recovering Creditor shall not be entitled to retain such amount and shall notify the Security Agent and forthwith pay such amount to the Security Agent for application in accordance with Clause 16.1 (Order of Application).

  • The Security Agent shall not be obliged to pay any Redistributed Amount to a Recovering Creditor under paragraph (a)(i) above until it has been able to establish to its satisfaction that it has actually received that Redistributed Amount from the relevant Sharing Creditor.

Related to Recovering Creditor

  • Secured Creditor means the Trustee, the Margin Loan Provider and the holders of the ETP Securities.

  • Applicable Creditor has the meaning assigned to such term in Section 9.14(b).

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Creditor has the meaning set forth in Section 3.3.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;