Subordinating Party definition

Subordinating Party is defined in Section 10.6(a).
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Subordinating Party shall have the meaning provided for such term in the Subordination Agreement.
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Subordinating Party has the meaning specified in Section 1601.
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Examples of Subordinating Party in a sentence

  • Such Subordinating Party may resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest on such Senior Indebtedness has been made or duly provided for in money or money’s worth.

  • Should any payment, any dividend or other distribution be received by the Subordinating Party in any bankruptcy, receivership, liquidation or other proceeding on account of the Subordinated Debt, such payment, dividend or other distribution will be held by such Subordinating Party in trust for Bank and will be paid over to Bank to apply to the Obligations in the order and the manner that Bank may choose.

  • Notwithstanding any other provision of this Agreement, to the extent that any payments on the Subordinated Debt that are not permitted hereunder are received by the Subordinating Party in any manner from any of the assets or property of the Borrower and its Subsidiaries, all the payments and amounts will be held in trust by the Subordinating Party for the benefit of Bank and will be paid over to Bank to apply in the order and manner that the Bank may choose.

  • All payments and amounts are to be held and paid over by the Subordinating Party to Bank until all of the Obligations are paid in full, all before any such payment is to be applied toward the payment of any Subordinated Debt.

  • No payment by a Subordinating Party on account of principal (or premium, if any), sinking funds or interest, if any, on the Securities or Guarantees thereof shall be made at any time if: (i) a default on the applicable Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the default is the subject of judicial proceedings or such Subordinating Party has received notice of such default.

  • If the Subordinating Party shall receive any payments, security interests, or other rights in any property of the Borrower and its Subsidiaries in violation of this Agreement, such payment or property shall be received by such Subordinating Party in trust for the Bank and, upon the Subordinating Party’s receipt of such payment or property, the same shall be promptly delivered and transferred by the Subordinating Party to the Bank to apply to the Obligations in the order and manner that the Bank may choose.

  • In no event shall Agent or any Senior Lender be liable to Subordinating Party for any failure to prove the Subordinated Debt, to exercise any right with respect thereto or to collect any sums payable thereon except in the case of actual bad faith or willful misconduct by such Lender or Agent.

  • Without limiting the foregoing, no Subordinating Party will assert, collect or enforce the Subordinated Debt or any part thereof or take any action to foreclose or realize upon the Subordinated Debt or any part thereof or enforce any of the Subordinated Documents except to the extent (but only to such extent) that the commencement of a legal action may be required to toll the running of any applicable statute of limitation.

  • Subordinating Party will perform its obligations under this Agreement regardless of any Law now or hereafter in effect in any Jurisdiction affecting any of the terms of any Loan Document or the rights of Agent or Senior Lenders with respect thereto.

  • The Subordinating Party agrees that, at the request of the Bank, a legend shall be placed on the face of any document or instrument evidencing or securing the Subordinated Debt, which legend shall state that the payment of the Subordinated Debt is subordinated pursuant to the terms of this Agreement.


More Definitions of Subordinating Party

Subordinating Party means each or any one of them, as the context may require; and
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Subordinating Party means a party holding an international interest in railway rolling stock who agrees to subordinate such interest to another party holding an international interest in the same asset and who would otherwise hold such interest subject to the prior rights of the international interest pursuant to Article 27 of the Convention.
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Related to Subordinating Party

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Financing Party means any and all Persons, or the agents or trustees representing them, providing senior or subordinated debt or tax equity financing or refinancing (including letters of credit, bank guaranties or other credit support).

  • Subordination The provisions described in Section 4.05 relating to the allocation of Realized Losses.

  • Senior Lender means each holder of a Senior Note.

  • 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;

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

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

  • Subordination Agent Has the meaning specified in the Intercreditor Agreement.

  • Originating Party means the Party, including any entity which provides Classified Information in accordance with the laws and regulations in force in its state;

  • Senior Representative means, with respect to any series of Permitted First Priority Refinancing Debt, Permitted Second Priority Refinancing Debt or other Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.

  • Financing Parties means Parties financing the Project, pursuant to Financing Documents.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Guarantor Senior Indebtedness means the principal of, premium, if any, and interest (including interest accruing after the filing of a petition initiating any proceeding under any state, federal or foreign bankruptcy laws whether or not allowable as a claim in such proceeding) on any Indebtedness of any Guarantor (other than as otherwise provided in this definition), whether outstanding on the date of this Indenture or thereafter created, incurred or assumed, and whether at any time owing, actually or contingent, unless, in the case of any particular Indebtedness, the instrument creating or evidencing the same or pursuant to which the same is outstanding expressly provides that such Indebtedness shall not be senior in right of payment to any Guarantee. Without limiting the generality of the foregoing, "Guarantor Senior Indebtedness" shall include (i) the principal of, premium, if any, and interest (including interest accruing after the filing of a petition initiating any proceeding under any state, federal or foreign bankruptcy law whether or not allowable as a claim in such proceeding) and all other obligations of every nature of any Guarantor from time to time owed to the lenders (or their agent) under the Bank Credit Agreement; provided, however, that any Indebtedness under any refinancing, refunding or replacement of the Bank Credit Agreement shall not constitute Guarantor Senior Indebtedness to the extent that the Indebtedness thereunder is by its express terms subordinate to any other Indebtedness of any Guarantor, (ii) Indebtedness evidenced by any guarantee of the Founders' Notes and (iii) Indebtedness under Interest Rate Agreements. Notwithstanding the foregoing, "Guarantor Senior Indebtedness" shall not include (i) Indebtedness evidenced by the Guarantees, (ii) Indebtedness that is subordinate or junior in right of payment to any Indebtedness of any Guarantor, (iii) Indebtedness which when incurred and without respect to any election under Section 1111(b) of Title 11 of the United States Code, is without recourse to any Guarantor, (iv) Indebtedness which is represented by Disqualified Equity Interests, (v) any liability for foreign, federal, state, local or other taxes owed or owing by any Guarantor to the extent such liability constitutes Indebtedness, (vi) Indebtedness of any Guarantor to a Subsidiary or any other Affiliate of the Company or any of such Affiliate's subsidiaries, (vii) Indebtedness evidenced by any guarantee of any Subordinated Indebtedness or Pari Passu Indebtedness, (viii) that portion of any Indebtedness which at the time of issuance is issued in violation of this Indenture and (ix) Indebtedness owed by any Guarantor for compensation to employees or for services.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • 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.

  • Managing Party shall have the meaning set forth in Section 7.2(a).

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with the Agreement, executed and delivered by Borrower, each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Subordination Agreements means all subordination agreements executed by a holder of Subordinated Debt in favor of the Administrative Agent and the Lenders from time to time after the Closing Date.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Indemnitor has the meaning set forth in Section 12.3.

  • Senior Debt Documents means (a) the Credit Agreement Loan Documents and (b) any Additional Senior Debt Documents.

  • Subordination Agreement means any subordination or intercreditor agreement(s) entered into with respect to any subordinate financing related to the Project, as the same may be amended, supplemented or restated.

  • Trustor means a borrower under a deed of trust, who deeds property to a trustee as security for the payment of a debt.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Guarantor Senior Debt shall include the principal of, premium, if any, and interest on all Obligations of every nature of such Subsidiary Guarantor from time to time owed to the lenders under the Partnership Credit Facility, including, without limitation, principal of and interest on, and all fees, indemnities and expenses payable by such Subsidiary Guarantor under, the Partnership Credit Facility, and (y) in the case of amounts owing by such Subsidiary Guarantor under the Partnership Credit Facility and guarantees of Designated Senior Indebtedness, "Guarantor Senior Debt" shall include interest accruing thereon subsequent to the occurrence of any Event of Default specified in clause (h) or (i) of Section 6.01 relating to such Subsidiary Guarantor, whether or not the claim for such interest is allowed under any applicable Bankruptcy Law. Notwithstanding the foregoing, "Guarantor Senior Indebtedness" shall not include (i) Indebtedness evidenced by the Notes or the Guarantees, (ii) Indebtedness that is expressly subordinate or junior in right of payment to any other Indebtedness of such Subsidiary Guarantor, (iii) any liability for federal, state, local or other taxes owed or owing by such Subsidiary Guarantor, (iv) Indebtedness of such Subsidiary Guarantor to the Partnership or a Subsidiary of the Partnership or any other Affiliate of the Partnership, (v) any trade payables of such Subsidiary Guarantor, and (vi) any Indebtedness which is incurred by such Subsidiary Guarantor in violation of this Indenture.