Additional Creditor definition
Examples of Additional Creditor in a sentence
No priority or right of any Additional Agent or any Additional Creditor shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of any Borrower or any Guarantor or by the noncompliance by any Person with the terms, provisions, or covenants of any of the Additional Documents, regardless of any knowledge thereof which any Additional Agent or any Additional Creditor may have.
Any Additional Agent, for and on behalf of itself and any Additional Creditors represented thereby, agrees that no payment by such Additional Agent or any such Additional Creditor to the ABL Agent or any ABL Lender pursuant to the provisions of this Agreement shall entitle such Additional Agent or any such Additional Creditor to exercise any rights of subrogation in respect thereof until the Discharge of ABL Obligations shall have occurred.
The ABL Agent, for and on behalf of itself and the ABL Lenders, agrees that no payment by the ABL Agent or any ABL Lender to any Additional Agent or any Additional Creditor represented thereby pursuant to the provisions of this Agreement shall entitle the ABL Agent or any ABL Lender to exercise any rights of subrogation in respect thereof until the Discharge of Additional Obligations shall have occurred.
Each other party to this Agreement expressly agrees that its rights and obligations arising hereunder shall continue after giving effect to the addition of such Additional Creditor as a party to this Agreement.
Pursuant to the foregoing, from the date of acceptance by any Creditor or Additional Creditor of part or all of the Additional Credit, any reference to the “Credit” will also include the Additional Credit.
Notwithstanding the foregoing, after the occurrence and during the continuation of an event of default under any Senior Loan Document, no Additional Creditor (other than a Prudential Affiliate pursuant to Section 10(e) hereof) may become party to this Agreement.
If such amounts are insufficient to satisfy in full the Obligations or other liabilities set forth in any such clause, they shall be applied on a pro rata basis among the Obligations and other liabilities set forth in such clause and, in the case of clauses (viii)(B), (ix)(C) and (ix)(D) above, based on the Pro Rata Share of each 2009/2010 Purchaser and Additional Creditor.
Upon full and final repayment of the Harvest Lender Obligations, the Agent may pay any Subordinated Proceeds in its possession to any Additional Creditors of which the Agent is aware; provided that, any Additional Creditor that receives such Subordinated Proceeds from the Agent shall provide its prior written agreement to deal with such Subordinated Proceeds in a manner substantially similar to the provisions of Sections 2.4(b) and 2.4(c) hereof.
If applicable, any previous Grant payments have been used for the Funded Activities or, where there are Unspent Monies, have been repaid to the Authority.
The 2025 Notes Agent and the 2025 Notes Creditors shall be entitled to manage and supervise their loans and extensions of credit under the 2025 Notes Documents as they may, in their sole discretion, deem appropriate, and may manage their loans and extensions of credit without regard to any rights or interests that the ABL Agent, any ABL Lender, any Additional Agent or any Additional Creditor has in the Collateral, except as otherwise expressly set forth in this Agreement.