Debtor Party definition
Examples of Debtor Party in a sentence
The foregoing consent applies only to the assumption of this Agreement by the Debtor Party and does not apply to the Debtor Party’s assignment of this Agreement or any rights hereunder to a Third Party.
The sole purpose of the foregoing consent is to overcome any restriction potentially imposed by Section 365(c)(1) of the Bankruptcy Code on the Debtor Party’s assumption of this Agreement in a bankruptcy case concerning the Debtor Party.
Any rejection of this Agreement by the Debtor Party pursuant to Section 365 of the Bankruptcy Code shall constitute a material breach of this Agreement not subject to notice or cure.
For purposes of this Section 10.1, Grounds shall include, but not be limited to, a decrease in the Credit Rating of a Debtor Party or its Guarantor to below BBB by S&P, or any successor rating agency thereto, or to below Baa2 by ▇▇▇▇▇’▇, or any successor rating agency thereto.
Specifically, the Debtor Party shall make payment of the difference between amounts owed by the Creditor Party hereunder and amounts owed by the Debtor Party hereunder.