Recovering Party definition

Recovering Party the meaning specified in Section 2.13(b).
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Recovering Party has the meaning given to it in Clause 14.1 (Recoveries).
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Recovering Party has the meaning given in Clause 7.1;
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Examples of Recovering Party in a sentence

  • The obligations of the Borrower in respect of Indebtedness held by each other Lender shall be deemed to have been satisfied to the extent of the amount of the Recovery distributed to each such other Lender by the Recovering Party.

  • Each of the Finance Parties (other than the Recovering Party which received a payment as a result of the Discharged Amount being distributed) shall pay to the Facility Agent (for the account of the Recovering Party) all that it has received of the Discharged Amount.

  • On a distribution by the Facility Agent under clause 33.2 (Redistribution of payments) of a payment received by a Recovering Party from an Obligor, as between the relevant Obligor and the Recovering Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that Obligor.

  • The Facility Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Party) (the Sharing Parties) in accordance with clause 34.6 (Partial payments) towards the obligations of that Obligor to the Sharing Parties.

  • If any such Recovery, or any part thereof, is subsequently re-recovered by the Recovering Party from any Obligors or the representative or successor in interest of the Obligors, such Recovery shall be paid by the Recovering Party to the Collateral Agent, and the Collateral Agent shall redistribute such Recovery to the other Senior Creditors on the same basis as such amounts were originally distributed.

  • Any losses recoverable by the Recovering Party for a Non-Financial Breach shall be reduced: to the extent that the loss would not have been incurred, if the Recovering Party had complied with its obligations under this Agreement; if the Recovering Party fails to comply with its obligations under clause 18.1(a), to the extent that any losses would have been reduced if the Recovering Party had so complied.

  • Upon receiving notice under clause 17.2 or otherwise becoming aware that a circumstance has arisen which constitutes or is likely to constitute or result in a Non-Financial Breach, the Non-Recovering Party shall, to the extent reasonably possible, rectify or prevent the Non-Financial Breach from occurring (as the case requires) and mitigate any loss the Recovering Party suffers or is likely to suffer.

  • The obligations of Borrowers in respect of Indebtedness held by each other Lender shall be deemed to have been satisfied to the extent of the amount of the Recovery distributed or obligated to be distributed to each such other Lender by the Recovering Party.

  • The Non-Recovering Party must be entitled to inspect the assets of the Recovering Party in order to verify the Recovering Party's assessment of loss and to ensure that the Recovering Party has fulfilled its obligations in relation to action taken and costs incurred by the Recovering Party to mitigate any loss.

  • If a Recovering Party is required to return or repay an amount which it determines relates to a Discharged Amount made by it under Clause 30.1, it shall promptly inform the Facility Agent.


More Definitions of Recovering Party

Recovering Party shall have the meaning assigned thereto in Section 4.5.
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Recovering Party has the meaning given to it in clause 32.2.1 (Pro rata payments);
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Recovering Party has the meaning given in Clause 5.8.1; “Retail Business” means the managed pubs, bars, restaurants and property development business carried on by the retail division of Six Continents’ Group prior to Completion as described in the listing particulars of M and B dated 17 February 2003; “Retail Companies” means the companies details of which are set out in Schedule 1 and “Retail Company” means any one of them; “Retail Shares” means the entire issued share capital of each of the Retail Companies (other than Bede Retail Investment Limited) and membership of Bede Retail Investments Limited; “Scheme of Arrangement” means the scheme of arrangement pursuant to Section 425 Companies Act 1985 pursuant to which M and B was inserted as the new holding company of Six Continents; Back to Contents
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Related to Recovering Party

  • Delivering Party means the entity supplying capacity and energy to be transmitted at Point(s) of Receipt.

  • Enforcing Party In connection with any Repurchase Request, (i) in the event one or more Requesting Certificateholders or Consultation Requesting Certificateholders has delivered a Final Dispute Resolution Election Notice with respect thereto pursuant to Section 2.03(g) of this Agreement, with respect to the mediation or arbitration that arises out of such Final Dispute Resolution Election Notice, such Requesting Certificateholder(s) and/or Consultation Requesting Certificateholder(s), or (ii) in all other cases, the Enforcing Servicer.

  • Tendering Party has the meaning provided in Section 8.5(a).

  • Supplying Party shall have the meaning stated in Section 35.8.2.

  • Producing Party means the parties to this action and any third-parties producing “Confidential Information” in connection with depositions, document production or otherwise, or the party asserting the confidentiality privilege, as the case may be.