PREFERENTIAL CREDITORS Clause Samples

PREFERENTIAL CREDITORS. Any supplier or Preferred Creditor of a UK Borrower seeks to (i) repossess Collateral of such UK Borrower in excess of $250,000 in the aggregate per Fiscal Year or
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PREFERENTIAL CREDITORS. Promptly notify Agent, and in any event not later than three (3) days after becoming aware, of the commencement by any Preferential Creditor or supplier of proceedings to repossess any goods of any UK Borrower. All of the foregoing notices shall be provided by Loan Parties to Agent in writing.
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PREFERENTIAL CREDITORS. Promptly upon becoming aware of any Preferential Creditor's claim, UK Borrowers shall seek to satisfy all obligations in connection with such claim and shall provide Agent with evidence reasonably satisfactory to Agent that such claim has been discharged.
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PREFERENTIAL CREDITORS. Promptly upon obtaining knowledge thereof, UK Borrowers shall notify Agent of the details of any claim being made by a Preferential Creditor including, without limitation, the identity, amounts owing, the basis for the claim and any other pertinent information relating to such Preferential Creditor's claim.
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PREFERENTIAL CREDITORS those creditors of an Obligor who, upon the insolvency of such Obligor, would have preference or priority to payment over the holder of a floating charge; Prior Chargeholders: the holder or beneficiary of any mortgage, charge, trust, lien, reservation of ownership, security interest or any other interest affecting the absolute and unfettered ownership of the charged property;
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Related to PREFERENTIAL CREDITORS

  • Unsecured General Creditor The Company shall neither reserve nor specifically set aside funds for the payment of its obligations under this Agreement, and such obligations shall be paid solely from the general assets of the Company.

  • Rights of Creditors (a) This Agreement is unfunded. Neither the Director nor any other persons shall have any interest in any specific asset or assets of the Funds by reason of any Deferral Accounts hereunder, nor any rights to receive distribution of his Deferral Accounts except and as to the extent expressly provided hereunder. The Funds shall not be required to purchase, hold or dispose of any investments pursuant to this Agreement; however, if in order to cover their obligations hereunder the Funds elect to purchase any investments the same shall continue for all purposes to be a part of the general assets and property of the Funds, subject to the claims of their general creditors and no person other than the Funds shall by virtue of the provisions of this Agreement have any interest in such assets other than an interest as a general creditor. (b) The rights of the Director and the Beneficiaries to the amounts held in the Deferral Accounts are unsecured and shall be subject to the creditors of the Funds. With respect to the payment of amounts held under the Deferral Accounts, the Director and his Beneficiaries have the status of unsecured creditors of the Funds. This Agreement is executed on behalf of the Funds by an officer, or other representative, of the Funds as such and not individually. Any obligation of the Funds hereunder shall be an unsecured obligation of the Funds and not of any other person.

  • Claims of Creditors The Contract Value and other benefits under this Contract are exempt from the claims of creditors to the extent permitted by law.

  • Preferential Collection of Claims If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Notes), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of the claims against the Company (or any such other obligor).

  • Preferential Collection of Claims Against Issuers The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.