Unsecured Obligation definition
Unsecured Obligation means any Collateral Obligation that is a senior obligation not secured by any assets of the obligor.
Unsecured Obligation means an Investment that is not secured on the shares and/or assets of one or more members of the group of which the relevant borrower(s) or obligor(s) form(s) part, provided that the Investment Managers (in their sole opinion) consider it to be market practice for such investment to be an Unsecured Obligation, or a Participation therein.
Unsecured Obligation. Except as otherwise provided below under “Guarantee”, the obligations of the Company and the Employer with respect to the Cash Award is an unfunded and unsecured promise, and ultimately your right to receive the payments contemplated by the Cash Award shall be no greater than the rights of any other unsecured general creditor of the Company or the Employer.
Examples of Unsecured Obligation in a sentence
Anything in this Agreement to the contrary notwithstanding and as provided in Section 4.13 of the Plan, for every $418,000 (or any whole multiple thereof) of outstanding NCOP Unsecured Obligation, if any, the amount of Surviving Corporation Common Stock distributable to CTC shareholders shall be reduced by one full percentage point and such Surviving Corporation Common Stock shall be distributed as follows: to NCO 72.74% to SPV 99-2 Noteholders 22.42 to ▇▇▇▇▇▇▇ ▇.