Dutch Parallel Debt definition

Dutch Parallel Debt means, in relation to an Underlying Debt, an obligation to pay the Collateral Agent an amount equal to (and in the same currency as) the amount of that Underlying Debt.
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Dutch Parallel Debt has the meaning given in Section 12.18(a).
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Dutch Parallel Debt means, with respect to any Loan Party and in any given currency at any given time, an amount equal to the aggregate amount of such Loan Party’s Underlying Debt Obligations at such time expressed in the currency thereof.
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Examples of Dutch Parallel Debt in a sentence

  • If any Underlying Debt is avoided or reduced other than (i) as a result of payment to, or recovery or discharge by, the Finance Party to which the Underlying Debt is owed or (ii) otherwise with the consent of such Finance Party, the amount of the Dutch Parallel Debt corresponding to such Underlying Debt shall be equal to the amount which such Underlying Debt would have had if the avoidance or reduction had not occurred.

  • Each Loan Party undertakes with Agent to pay to Agent its Dutch Parallel Debt.

  • Each Dutch Parallel Debt is a separate and independent obligation and shall not constitute Agent and any Finance Party as joint creditors (hoofdelijk schuldeisers) of any Underlying Debt.

  • No Loan Party may pay any Dutch Parallel Debt other than at the instruction of, and in the manner determined by, Agent (at the direction of the Required Lenders).


More Definitions of Dutch Parallel Debt

Dutch Parallel Debt has the meaning given to it in clause 16.2 (Parallel Debt) of the Framework Agreement.
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Dutch Parallel Debt has the meaning assigned to such term in Article VIII.
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Dutch Parallel Debt means any amount which a Loan Party owes to the Agent under this Clause.
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Dutch Parallel Debt has the meaning assigned to such term in the Loan Guaranty.
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Dutch Parallel Debt as defined in the Netherlands Pledge Agreement.
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Dutch Parallel Debt means, in relation to any of the NL Obligors, an amount equal to the aggregate of that NL Obligor’s Corresponding Debts at that time.
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Dutch Parallel Debt is defined in Section 10.15 hereof.
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