Examples of Applicable Secured Parties in a sentence
The foregoing provisions are intended as an inducement to the [Applicable Secured Parties] to extend credit to the Parent Borrower and such [Applicable Secured Parties] are intended third-party beneficiaries of such provisions.
For the purposes of Section 10.03 and Section 10.04, the Applicable Designated Representative shall act (a) on the instructions of the Applicable Secured Parties or (b) in the absence of any such instructions, as the Applicable Designated Representative sees fit (which may include taking no action).
At any time following the occurrence and during the continuance of an Event of Default, the Collateral Agent may (and, if instructed by the Applicable Secured Parties, shall) in its (or their) discretion apply or cause to be applied (subject to collection) the balance from time to time outstanding to the credit of the Collateral Account to the payment of the Secured Obligations in the manner specified in Article VIII.
In conclusion, the authors recall that their claim is not based on a mere question of reduced socioeconomic standards; the risks for them go well beyond that.
The powers conferred on the Collateral Agent and the Secured Parties hereunder are solely to protect the Collateral Agent's and the Applicable Secured Parties' respective interests in the Collateral and shall not impose any duty upon the Collateral Agent or any Secured Party to exercise any such powers.